Name: Mitchelle Khent Solon Date: January 26, 2017

Teacher: Mme. Bejoc Yr. & Pod: 11- Blessed Aurelio Maria

Income Statement

Sales 127,500

Less: Purchases(merchandises) 57 ,000

Gross Profit 70,500

Less: Operating Expenses

Freight in 5,000

Taxes and Licences 900

Communication Expense 300

Heat, Light, and Water 1,240

Store supplies Expense 1,180

Office supplies Expense 730

Miscellaneous Expense 2,090 11,440

Net Profit 59, 060