Calculations for excel accounting

Comprehensive Income

Smart Home Appliances Inc.
Statement of Comprehensive Income and Profit & Loss Account
For the Year Ending 2021
Particulars	2021
Sales	600,000
Cost of sales (Puchases, Inv) N1	400,000
Gross Profit	200,000
Expenses
Salaries/Wages	10,000
Depreciation/Amortization N2	5,000
Rent	8,000
PBIT	177,000
Interest expenses N3	31,535
Tax expenses N4	37170
Net Income	108,295
N1- The cost of sales is comprised of purchases less closing inventory. There is no opening inventory as this is first operational year
N2- The depreciation expense are reduction in value of Property, Plant, Equipment assets based on straightline method at rate of 10%
N3- The interest expense is comprised of short-term, long-term, and bonds loans at BBB rating which 6.42, plus 1% other tiers
N4- The tax is charged based on corporate tax rate 21%

Balance sheet

Smart Home Appliances Inc.
Statement of Financial Position
At the Year Ended 2021
Partciulars	Amount	Particulars	Amount
Current Assets		Current Liability
Cash at hand	2,000	Short term debt	75,000
Cash at bank	30,000	Payables	25,000
Short-term Inv	70,000	Total Current L	100,000
Inventory	35,000	Non-Current Liab
Receivables	13,000	Long-term loans	300,000
Total Current A	150,000	Bonds Payables	125,000
Non-Current		Long-term lease	116,705
PPE	500,000	Total Non Current L	541,705
Acc Dep @ 10%	5,000	Equity
Net PPE	495,000	Shareholders' Equity	250,000
Patents	105,000	Retained earnings	108,295
Long-term Inv	100,000	Total Equity	358,295
Goodwill	150,000
Total Non Current	850,000	Total Liabilities	641,705
Total Assets	1,000,000	Total Equity & Liab	1,000,000