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  • Income Statement

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    Mark Ian Valdez
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    Summit Marketing Co.'s income statement for January 2019 shows sales of ₱127,500 with cost of sales of ₱57,000 resulting in a gross profit of ₱70,500. Operating expenses for the month totaled ₱6,440 comprising of various items such as taxes and licenses, communication, utilities and supplies. This led to an operating profit of ₱64,060 for the month.

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    Summit Marketing Co.'s income statement for January 2019 shows sales of ₱127,500 with cost of sales of ₱57,000 resulting in a gross profit of ₱70,500. Operating expenses for the month totaled ₱6,440 comprising of various items such as taxes and licenses, communication, utilities and supplies. This led to an operating profit of ₱64,060 for the month.

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

    Income Statement

    Uploaded by

    Mark Ian Valdez
    Summit Marketing Co.'s income statement for January 2019 shows sales of ₱127,500 with cost of sales of ₱57,000 resulting in a gross profit of ₱70,500. Operating expenses for the month totaled ₱6,440 comprising of various items such as taxes and licenses, communication, utilities and supplies. This led to an operating profit of ₱64,060 for the month.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Summit Marketing Co.

    Income Statement
    For the Month Ended January 31, 2019
    Sales ₱ 127 500
    Cost of Sales ₱ 57 000
    GROSS PROFIT ₱ 70 500
    Operating Expenses
    Taxes and Licenses ₱ 900
    Communication Expense ₱ 300
    Heat, Light, and Water ₱ 1 240
    Store Supplies Expense ₱ 1 180
    Office Supplies Expense ₱ 730
    Miscellaneous Expense ₱ 2 090 ₱ 6 440
    OPERATING PROFIT ₱ 64 060

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