MASAGANA TRADING

INCOME STATEMENT
For the year ended December 31,2022

Sales Revenue
Less Sales Returns and Allowances
Sales Discount
Net Sales
Less Cost of Sales:
Merchandise Inventory, January 1
Add Net Cost of Purchases:
Purchases
Add Freight In
Total Cost of Goods Delivered:
Less Purchase Returns & Allowances
Purchase Discounts
Total Goods Available For Sale
Less Merchandise Inventory, December 31
Cost of Sales
Gross Income
Less: Operating Expense:
Selling-
Sales Salaries
Advertising Expense
Freight Out
Commisions Expense
Store Supplies Expense
Depreciation Expense, Store Furniture and Equipment
Administrative-
Office Salaries
Utilities Expense
Rent Expense
Office Supplies Expense
Depreciation Expense, Furniture and Equipment
Doubtful Account Expense
Insurance Expense
NET INCOME
MAIN LINK:
https://docs.google.com/spreadsheets/d/1c--Afn6Q6uXetkO-niFyJBGzIs7u8VgJ8XGRly2PgVg/edit?usp=s
ber 31,2022

997,000
25,000
12,000 37,000
960,000

80,000

628,000
45,000
673,000
28,000
12,000 40,000
633,000
60,000 713,000
653,000
307,000

65000
32000
23000
15000
9000
45000 189000

80000
50000
30000
8000
35000
16000
12000 231000
-113,000
yJBGzIs7u8VgJ8XGRly2PgVg/edit?usp=sharing
 MASAGANA TRADING
INCOME STATEMENT
For the Year Ended December 31,2021
Net Sales 960,000
Less Cost of Sales 653,000
Gross Profit 307,000
Other Revenue and Gains 0
Selling Expenses 189,000
Administrative Expenses 231,000
NET INCOME -113,000

MASAGANA TRADING
INCOME STATEMENT
For the Year Ended December 31,2021
Gross Sales
Less: Sales Return and Allowances
Sales Discount
Net Sales
Less Cost of Sales:
Merchandise Inventory, Jan. 1
Purchases
Add Freight In
Total Cost of Goods Delivered:
Less: Purchase Returns and Allowances
Purchase Discounts
Total Goods available for sale
Less Merchandise Inventory, December 31
Cost of Sales
Less: Operating Expense
Selling Expense
Sales Salaries
Advertising Expense
Freight Out
Commisions Expense
Store Supplies Expense
Depreciation Expense, Store Furniture and Equipment
Total Selling Expense
Administrative Expense
Office Salaries
Utilities Expense
Rent Expense
Office Supplies Expense
Depreciation Expense, Furniture and Equipment
 Doubtful Account Expense
Insurance Expense
Total Administrative Expense
 997,000
25,000
12,000
960,000

80,000
628,000
45,000
673,000
28,000
12,000 633,000
713,000
60,000
653,000

65,000
32,000
23,000
15,000
9,000
45,000
189,000

80,000
50,000
30,000
8,000
35,000
16,000
12,000
231,000