FINANCIAL STATEMENT

As of

REVENUE YEAR 1 YEAR 2 YEAR 3

Sales P78,000.00 P78,000.00 P78,000.00

Less: Sales Return P3,000.00 P3,000.00 P3,000.00

Less: Discounts and Allowances P1,000.00 P1,000.00 P1,000.00

Net Sales P74,000.00 P74,000.00 P74,000.00

COST OF GOODS SOLD

Raw Materials P8,000.00 P8,000.00 P8,000.00

Labor P9,000.00 P9,000.00 P9,000.00

Overhead P2,000.00 P2,000.00 P2,000.00

Total Cost of Goods Sold P19,000.00 P19,000.00 P19,000.00

Gross Profit P55,000.00 P55,000.00 P55,000.00

OPERATING EXPENSES

Wages P10,000.00 P10,000.00 P10,000.00

Advertising P5,000.00 P5,000.00 P5,000.00

Repairs and Maintenance P500.00 P500.00 P500.00

Rent/Lease P5,000.00 P5,000.00 P5,000.00

Equipment Expenses P1,000.00 P1,000.00 P1,000.00

Utilities/Telephone Expenses P1,000.00 P1,000.00 P1,000.00

Insurance P500.00 P500.00 P500.00

Internet P1,500.00 P1,500.00 P1,500.00

Office Supplies P5,000.00 P5,000.00 P5,000.00

Depreciation P8,000.00 P8,000.00 P8,000.00

Interest P2,000.00 P2,000.00 P2,000.00

Other Expenses P100.00 P100.00 P100.00

Total Operating Expenses P35,250.00 P35,250.00 P35,250.00

OPERATING PROFIT (LOSS) P26,250.00 P26,250.00 P26,250.00

Add: Other Income

Interest Income P2,000.00 P2,000.00 P2,000.00

Other Income P1,000.00 P1,000.00 P1,000.00

PROFIT (LOSS) BEFORE TAXES P29,250.00 P29,250.00 P29,250.00

Less: Tax Expense P4,000.00 P4,000.00 P4,000.00

NET PROFIT P25,250.00 P25,250.00 P25,250.00