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  • 102 Profitadjustments

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    angie aggen
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    Store #102 had gross sales of $2.3 million for the first half of FY2012, with retail sales making up 91% and licensee sales 9%. However, after a 35% adjustment to retail sales, net profit was a loss of $166,840. Key expenses included taxes of 29% on adjusted gross retail sales, total direct expenses of $797,556 after adjustments, and indirect expenses of $108,096.

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    Store #102 had gross sales of $2.3 million for the first half of FY2012, with retail sales making up 91% and licensee sales 9%. However, after a 35% adjustment to retail sales, net profit was a loss of $166,840. Key expenses included taxes of 29% on adjusted gross retail sales, total direct expenses of $797,556 after adjustments, and indirect expenses of $108,096.

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    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
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    7 views1 page

    102 Profitadjustments

    Uploaded by

    angie aggen
    Store #102 had gross sales of $2.3 million for the first half of FY2012, with retail sales making up 91% and licensee sales 9%. However, after a 35% adjustment to retail sales, net profit was a loss of $166,840. Key expenses included taxes of 29% on adjusted gross retail sales, total direct expenses of $797,556 after adjustments, and indirect expenses of $108,096.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
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    of 1

    FYTD12(July-Dec.

    2011)
    Store #102
    Pre-Adjustments Adjustment Post-Adjust.
    Gross Sales 2,313,050
    Retail Sales(GRS) (91%) 2,104,876 -35% 1,368,169
    Licensee Sales (9%) 208,174
    Net Profit 292,148
    Discounts 54,449
    Taxes(29% of Gross Sales) 670,499 29% of Adj. GRS 369,769
    Net Sales 1,588,101
    Total COG 991,789
    COG for Retail Sales(91%) 902,527 -35% 586,643
    COG for Licensee Sales(9%) 89,261
    Sal./Comm. 79,734
    Benefits 43,000
    Supplies 219
    Direct Expenses

    Communication 231
    Utilities 5,881
    Rent 48,017
    Repair/Main. 0
    Printing 340
    Other Purchased Services 2,927
    Other Goods/Services 450
    Direct Allocations 462
    Freight Arb. -17,564 add 17564 0
    Freight 15,156
    Bankcard Fees 15,879 -9% 14,449
    Travel 47
    Total Direct Expenses 1,186,568 797,556
    Inderect Expenses 108,096
    Breakage 954

    + Adjusted GRS 1,368,169


    - 17% of Adj. GRS 232,588
    - Adj. Total Direct Expenses 797,556
    - Indirect Expenses 108,096
    - Breakage 954
    - 29% of Adj. GRS 396,769
    = Net Income -166,840 (for 6 months)

    This is with the assumptions:


    1. Loss of 35% in Gross Retail Sales
    2. Paying a total of 46% tax on Gross Retail Sales
    3. Loss of 100% of Licensee Sales

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