OH , OH , CORPORATION

INCOME STATEMENT
FOR THE YEAR ENDED DEC 31,,1992
PARTICULER

1992

1991

SALES REVANUE ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

620,000

410.000

LESS COST OF GOOD SOLD

(465,000)

(307500)

NET SALE,,,,,(25% ON SALE)

155,000

102500

Salary exp,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

12,000

10,000

Rent exp

18,000

14,000

Supplies exp

40,000

35,000

Utility exp

15,000

10,000

TOTAL OPERATING EXP

85,000

69,000

Income before tax

70,000

43,500

Income tax (30% on G.P)

46,500

307,500

NET INCOME

23,500

2,750

OPERATING EXPANCESS

REQUIRED
CALULATION FOR BOTH YEAR WITH PROPER WORKING OF
ALL RATIOS

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