Alden Store

Statement of Comprehensive
For the year ended December 31, 2016

201
6

Net Sales
Sales 2,490,000
Sales Discount (10,250) 2,479,750
Sales Return (1,577) 2,478,173

Less: Cost of Sales

Inventories – Beginning 255,544
Purchases 510,000
Purchases Discount (88,000) 422,000
Purchases Return (7,650) 414,350
Freight in 56,875
Total Goods Available For Sale 726,769
Inventories - Ending (301,256) 425,513
Gross Profit 2,052,660
Less: General and Operating Expenses
Freight out 6,780
Salaries Expense 434,588
Utilities Expense 10,770
Advertising Expense 5,680
Rent Expense 60,000
Bad Debts 1,654
Depreciation – Building 45,670
Depreciation – Land Improvements 6,557
Depreciation – Building Improvements 5,078
Depreciation – Furniture 6,087
Depreciation – Machinery and Equipment 10,157
Supplies Expense 10,124
Insurance Expense 18,000
Interest Expense 12,000
Miscellaneous Expense 1,056 634,201
Net: Operating Income 1,418,459
Add: Rent Income 10,000
Add: Interest Income 1,500

Net Income 1,429,959