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Singles Ave

Income Statement

As of

Sales Revenue 2,158,800.00

Less: Cost of Goods Sold400,920.00

Gross Profit

1,757,880.0

0

Less: Operating Cost

Salary Expense

163,092.0

0

SSS 19,968.00

PhilHealth 5,100.00

Pag-ibig 3,840.00

Rental Expense282,000.0

0

Utilities Expense

147,910.9

0

Transportation Expense 6,000.00

Printing Expense

185,040.0

0

Supplies Expense 3,000.00

Legal Expense 8,615.00 824,565.90

Net Income Before Tax 933,314.10

Less: Corporate Income Tax (35%) 326,659.94

Net Income After Tax 606,654.17

*Sales Revenue computation see table 3.1Cost of Goods Sold computation see table 3.2

Rental Expense computation see table 3.3

Utilities Expense computation see table 3.4

Transportation Expense computation see table 3.5Printing Expense computation see table 3.6

Supplies Expense computation see table 3.7

Salary Expense, SSS, PhilHealth, Pag-ibig computation see table 3.8Legal Expenses computation see table 3.9

Actual Demand computation see table 3.10

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APPENDIX

Table 3.1

Computation of Sales Revenue

Quantity per month 514.00Price 350.00

Sales per month 179,900.00

Sales per year 2,158,800.00

Table 3.2

Computation of Cost of Goods Sold

Raw material (T-shirt) 65.00

Quantity 514.00Total Cost 33,410.00

Total Cost per year 400,920.00

Table 3.3

Computation of Rental Expense

per month per year

Main Office and Outlet 16,000.00 192,000.00

Warehouse 7,500.00 90,000.00Total rent per year 282,000.00

Table 3.4

Computation of Utilities Expense

per month per year

A. Electricity

Main Office 6,883.29 82,599.48

Warehouse 2,962.62 35,551.44

Total Electricity 118,150.92

B. Water

Main Office 300.00 3,600.00

Warehouse 200.00 2,400.00

Total Water 6,000.00

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C. Communication

Main Office 990.00 11,880.00

Warehouse 990.00 11,880.00

Total Communication 23,760.00

Total Utilities 147,910.92

Table 3.5

Computation of Transportation Expense

per month per year

Total Deliver 500.00 6,000.00

Table 3.6

Computation of Printing Expense

per unit price 30.00

quantity per month 514.00

Printing Expense per month 15,420.00

Printing Expense per year 185,040.00

Table 3.7

Computation of Supplies Expenseper month per year

Supplies Expense /6 months 1,500.00 3,000.00

Table 3.8

Computation of Salary

per month per year

A. 4000php. Salary (2 emp.)

Salary 4,000.00 48,000.00 96,000.00

SSS 416.00 4,992.00 9,984.00

Philhealth 100.00 1,200.00 2,400.00

Pag-ibig 80.00 960.00 1,920.00

Total 3,404.00 55,152.00

B. 3000php. Salary (1emp.)

Salary 3,000.00 36,000.00

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SSS 312.00 3,744.00

Philhealth 100.00 1,200.00

Pag-ibig 60.00 720.00

Total 2,528.00 30,336.00

C. 5000php Salary (1emp.)

Salary 5,000.00 60,000.00

SSS 520.00 6,240.00

Philhealth 125.00 1,500.00

Pag-ibig 100.00 1,200.00

Total 4,255.00 51,060.00

D. Totals

Salary w/deduction 163,092.00

SSS 19,968.00

Philhealth 5,100.00

Pag-ibig 3,840.00Total 192,000.00

Table 3.9

Computation of Legal Expenses

A. Breakdown of Mayor's Permit

Sanitary Permit 900.00

Garbage Collection Fee 2,500.00

Occupational Tax 260.00Police Clearance 905.00

Plumbing Inspection Fee 1,500.00

Electrical Inspection Fee 850.00

Building Permit Fee 500.00

Sign board Permit Fee 400.00

Total 7,815.00

B. Barangay Clearance 800.00

Total Legal Expense 8,615.00

Table 3.10

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Computation of Actual Demand

Attainable Demand 15,840

Competitors 9,680

Actual Demand 6,160

Actual Demand (monthly) 514