BIG ‘J’ SUPERMARKET

INCOME STATEMENT
FOR THE PERIOD 31 DECEMBER 2022
       
  2022
  REVENUE  
SALES (GROCERY STORE)   $7,200,000
COST OF GOODS SOLD
OPENING INVENTORY $1,200,000
PURCHASES $2,080,000
$3,280,000
LESS CLOSING INVENTORY $1,600,000
$1,680,000
GROSS PROFIT   $5,520,000
  EXPENSES    
ELECTRICITY $192,000
WATER $12,000
FUEL $204,000
WAGES AND SALARIES $2,880,000
CEVONS $72,000
CLEANING EXPENSE $30,000
BUSINESS REGISTRATION $5,000
LOAN INTEREST $27,495
DEPRECIATION $860,000
  TOTAL EXPENDITURE   $4,282,495
  NET PROFIT $1,237,505

THE FINANCIAL STATEMENTS REFLECT THE INCOME AND EXPENDITURE OF

BIG ‘J’ S SUPERMARKET AND ARE BASED ON INFORMATION PROVIDED BY
MR. CARLO DUNCAN

____________________________
MR. CARLO DUNCAN
 BIG ‘J’ SUPERMARKET
BALANCE SHEET
AS AT 31 DECEMBER 2022
    2022
       
ASSETS    
 
FIXED ASSETS    
  ASSETS $8,600,000
LESS: ACCUMULATED DEPRECIATION $860,000
  TOTAL FIXED ASSETS $7,740,000
CURRENT ASSETS    
INVENTORY $1,600,000
  CASH  $300,000
  TOTAL CURRENT ASSETS   $1,900,000
TOTAL ASSETS $9,640,000
       
LIABILITIES AND EQUITY    
       
CURRENT LIABILITIES    
SHORT TERM PORTION OF LOAN $500,000
  ACCOUNTS PAYABLE   $400,000
  TOTAL CURRENT LIABILITIES   $900,000
       
LONG-TERM LIABILITIES    
  LONG-TERM LOAN PAYABLE   $500,000
  TOTAL LONG-TERM LIABILITIES   $500,000
  TOTAL LIABILITIES   $1,400,000
       
STOCKHOLDERS' EQUITY    
  INVESTMENT CAPITAL   $7,002,495
  CURRENT NET PROFIT (LOSS)   $1,237,505
  TOTAL CAPITAL   $8,240,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $9,640,000

THE FINANCIAL STATEMENTS REFLECT THE INCOME AND EXPENDITURE OF

BIG ‘J’ S SUPERMARKET AND ARE BASED ON INFORMATION PROVIDED BY
MR. CARLO DUNCAN

___________________________
MR. CARLO DUNCAN