Godofredo Cadelina Corporation

Statement of Comprehensive Income

For the Year Ended Dec. 31, 2023
Sales
Cost of Goods Sold
Direct Materials Used 295,000.00
Raw Materials Inventory Beginning (Dec 31, 2022) 60,000.00
Add: Purchases — Raw Materials 313,000.00
Total Available for Use 373,000.00
Less: Raw Materials Invenory End (Dec. 31, 2023) 78,000.00
Direct Labor 250,000.00
Factory Overhead 570,000.00
Amortization of Patents 16,000.00
Depreciation Expense—Factory Building 133,000.00
Depreciation Expense—Factory Equipment 78,000.00
Factory insurance Expense 62,000.00
Factory Supervision 74,000.00
Factory Supplies Expense 21,000.00
Factory Utilities 115,000.00
Indirect Labor 26,000.00
Property Taxes—Factory Site 14,000.00
Repairs and Maintenance—Factory Equipment 31,000.00
Total Manufacturing Costs 1,115,000.00
Add: Work In Process Beginning (Dec. 31, 2022) 8,000.00
Cost of Goods Put Into Process 1,123,000.00
Less: Work In Process End (Dec. 31, 2023) 9,000.00
Cost of Goods Manufactured 1,114,000.00
Add: Finished Goods Inventory Beginning (Dec. 31, 2023) 15,000.00
Total Goods Available for Sale 1,129,000.00
Less: Finished Goods End (Dec. 31, 2023) 12,500.00
Gross Profit
Less: Operating Expenses
Advertising Expense
Uncollectible Accounts Expense
Deprecation Expense—Office Equipment
Interest Expense
Miscellaneous Expenses
Salaries Expense
Profit/Loss
 n
ome
23
1,630,000.00
1,116,500.00
295,000.00

250,000.00
570,000.00

1,115,000.00
8,000.00
1,123,000.00
9,000.00
1,114,000.00
15,000.00
1,129,000.00
12,500.00
513,500.00

85,000.00
28,000.00
37,000.00
25,000.00
55,000.00
150,000.00 380,000.00
133,500.00