Unit 6 powerpoint

IncomeStatement-Q4.xlsx

Income Statement

Income Statement
Report Item	Quarter 1	Quarter 2	Quarter 3	Quarter 4
Gross Profit
Revenues	0	1,878,000	3,959,500	8,636,500
- Rebates	0	35,700	71,600	159,300
- Cost of Goods Sold	0	1,209,029	2,157,994	6,129,752
= Gross Profit	0	633,271	1,729,906	2,347,448
Expenses
Research and Development	120,000	60,000	0	180,000
+ Advertising	0	131,790	130,449	333,359
+ Sales Force Expense	0	124,392	277,390	355,182
+ Sales Office Expense	180,000	300,000	200,000	200,000
+ Marketing Research	0	15,000	15,000	15,000
+ Shipping	0	30,730	53,504	101,533
+ Inventory Holding Cost	0	0	0	0
+ Excess Capacity Cost	0	0	0	0
+ Depreciation	0	25,000	25,000	50,000
= Total Expenses	300,000	686,912	701,343	1,235,074
Operating Profit	-300,000	-53,641	1,028,563	1,112,374
Miscellaneous Income and Expenses
+ Other Income	0	0	0	0
- Other Expenses	0	0	0	0
= Earnings Before Interest and Taxes	-300,000	-53,641	1,028,563	1,112,374
+ Interest Income	0	0	3,000	6,000
- Interest Charges	0	0	0	0
= Income Before Taxes	-300,000	-53,641	1,031,563	1,118,374
- Loss Carry Forward	0	0	353,641	0
= Taxable Income	0	0	677,922	1,118,374
- Income Taxes	0	0	271,169	447,350
= Net Income	-300,000	-53,641	760,394	671,024
Earnings per Share	-15	-2	19	17
End of Worksheet