PBV Company

Statement of the Problem

For the mid-year ended June 30, 2021

Net Sales Revenue 763,500.00

Sales Revenue 765,200.00

Less: Sales Discount - 1,700.00

Less: Cost of Sales/Cost of Goods Sold 440,000.00

Gross Margin 323,500.00

Less: Operating Expenses

Taxes and License Expense 20,000.00

Wages Expense 37,700.00

Utilities Expense 33,650.00

Depreciation Expense – M.E. 1,200.00

Meatshop Supplies Expense 7,500.00

Doubtful Accounts Expense 978.75

Depreciation Expense - Blg. 59,375.00 160,403.75

Net Income from Operations 163,096.25