Mindoro Enterprises

Income Statement

For the Month of August, 2017

Sales P 118,000.00

Less: Sales Discount 3,150.00

Net Sales P 114,850.00

Less: Cost of Goods Sold (See Computation in the Adjusting Entry 91,700.00

Gross Profit P 23,150.00

Less: Operating Expenses

Licenses P 5,000.00

Rent Expenses 5,000.00

Salaries Expenses 10,000.00

Freight Out 2,000.00

Utilities Expenses 5,600.00

Office Supplies Expenses 650.00

Depreciation Expenses-Furniture 583.33

Depreciation Expenses-Computer 750.00

Interest Expense 666.67 30,250.00

Net Income (Net Loss) P ( 7,100.00 )