NYERZ SUMAYAO AC22

Hazel Lee Co
Statement of Comprehensive Income
For the year ended December 31, 20x1

Net Sales
Cost of Goods Sold
Gross Income
Other Income
Total Income
Expenses:
Distribution Cost ₱ 512,500.00
Administrative Expense ₱ 252,500.00
Other Expense ₱ 22,000.00
Income Before Tax
Income Tax Expense
Net Income
Other Comprehensive Income
Comprehensive Income

Note 1
Net Sales
Note 2
Cost of Goods Sold:
Inventory, Beginning
Purchases ₱ 300,000.00
Freight In ₱ 30,000.00
Total ₱ 330,000.00
Purchase Returns -₱ 15,000.00
Purchase Discounts -₱ 27,000.00

Inventory, Ending
Cost of Goods Sold
Note 3
Other Income :
Interest Income ₱ 80,000.00
Gains ₱ 30,000.00
Total ₱ 110,000.00
Note 4
Distribution Costs:
Freight Out ₱ 25,000.00
Sales Commission ₱ 60,000.00
Advertising Expense ₱ 35,000.00
Transportation and Travel Expe ₱ 25,000.00
Salaries Expense ₱ 262,500.00
Rent Expense ₱ 45,000.00
Depreciation Expense ₱ 60,000.00
Total ₱ 512,500.00
Note 5
Administrative Expense:
Salaries Expense ₱ 87,500.00
Rent Expense ₱ 15,000.00
Depreciation Expense ₱ 20,000.00
Supplies Expense ₱ 30,000.00
Insurance Expense ₱ 10,000.00
Taxes and License ₱ 50,000.00
Utilities Expense ₱ 40,000.00
Total ₱ 252,500.00
Notes 6
Other Expenses:
Loss on Sale of Equipment ₱ 15,000.00
Interest Expense ₱ 5,000.00
Miscellaneous Expense ₱ 2,000.00
Total ₱ 22,000.00
Co
ensive Income
ember 31, 20x1

₱ 1,045,000.00
-₱ 268,000.00
₱ 777,000.00
₱ 110,000.00
₱ 887,000.00

₱ 787,000.00
₱ 100,000.00
₱ -
₱ 100,000.00
₱ -
₱ 100,000.00

₱ 1,045,000.00

₱ 80,000.00

₱ 288,000.00
₱ 368,000.00
-₱ 100,000.00
₱ 268,000.00