D c В A + INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2019 S REVENUE SALES LESS: SALES RETURNS AND ALLOWANCES NET S

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D c В A + INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2019 S REVENUE SALES LESS: SALES RETURNS AND ALLOWANCES NET SALES LESS: COST OF GOODS SOLD GROSS PROFIT 1,557,600 $ 21,600 $ 1,536,000 $ 1,144,000 $ 392,000 $ N LI G E S 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 12,000 $ 181,600 $ 5,120 $ 3,840 $ 23,680 $ 226,240 $ T А A EXPENSES SALE EXPENSES PUBLICITY SALES DEPARTMENT SALARY FACTORY SUPPLIES DEPRECIATION EXPENSE - FACTORY EQUIPMENT DELIVERY TOTAL SALE EXPENSES ADMINISTRATION EXPENSES ADMINISTRATION DEPARTMENT SALARY INSURANCE OFFICE SUPPLIES DEPRECIATION EXPENSE - OFFICE FURNITURE DEPRECIATION EXPENSE - BUILDING PHONE EXPENSE TOTAL ADMINISTRATION EXPENSES TOTAL EXPENSES BB叫西北訂阳明如如gg 65,600 $ 2,080 S 2,560 $ 480 $ 4,560 $ 3,600 $ 78,880 $ 305,120 $ 7 7 T INCOME BEFORE INCOME TAXES LESS: INCOME TAX NET INCOME L =< 86,880 $ 34,080 $ 52,800 $ comparative balance sheet 43 N instruction comparative income statement INT Ready
H INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2018 REVENUE SALES LESS: SALES RETURNS AND ALLOWANCES NET SALES LESS: COST OF GOODS SOLD GROSS PROFIT 1,364,800 $ 16,320 $ 1,348,480 $ 996,000 $ 352,480 $ 8,000 $ 156,800 $ 4,480 S 2,720 $ 22,400 $ 194,400 $ EXPENSES SALE EXPENSES PUBLICITY SALES DEPARTMENT SALARY FACTORY SUPPLIES DEPRECIATION EXPENSE - FACTORY EQUIPMENT DELIVERY TOTAL SALE EXPENSES ADMINISTRATION EXPENSES ADMINISTRATION DEPARTMENT SALARY INSURANCE OFFICE SUPPLIES DEPRECIATION EXPENSE - OFFICE FURNITURE DEPRECIATION EXPENSE - BUILDING PHONE EXPENSE TOTAL ADMINISTRATION EXPENSES TOTAL EXPENSES 64,080 S 2,000 $ 1,920 $ 480 S 2,400 $ 3,520 $ 74,400 $ 268,800 $ INCOME BEFORE INCOME TAXES LESS: INCOME TAX NET INCOME 83,680 $ 31,520 $ 52,160 $ +
N o P B M BALANCE SHEET DECEMBER 31, 2019 BALANCE SHEET DECEMBER 31, 2018 28,800 $ 108,800 $ 144,000 S 9,280 S 290,880 $ 44,800 $ 102,400 S 134,400 $ 9,600 $ 291,200 S CURRENT ASSETS BANK ACCOUNTS RECEIVABLE INVENTORY PREPAID ACCOUNTS TOTAL CURRENT ASSET FIXED ASSETS OFFICE EQUIPMENT OFFICE SUPPLIES BUILDING LAND TOTAL FIXED ASSETS TOTAL ASSETS CURRENT ASSETS BANK ACCOUNTS RECEIVABLE INVENTORY PREPAID ACCOUNTS TOTAL CURRENT ASSET FIXED ASSETS OFFICE EQUIPMENT OFFICE SUPPLIES BUILDING LAND TOTAL FIXED ASSETS TOTAL ASSETS 5,600 $ 28,640 $ 282,880 S 80,000 $ 397,120 $ 688,000 $ 2,000 $ 10,880 $ 282,880 S 80,000 $ 375,760 S 666,960 $ LIABILITIES BANK LOAN ACCOUNTS PAYABLE INCOME TAX TO PAY SALARY TO PAY MORTGAGE TOTAL LIABILITIES OWNER'S EQUITY CAPITAL, DECEMBER 31, 2019 TOTAL LIABILITIES+OWNERS EQUITY 8,000 $ 69,760 $ 7,680 $ 1,280 S 96,000 $ 182,720 $ LIABILITIES BANK LOAN ACCOUNTS PAYABLE INCOME TAX TO PAY SALARY TO PAY MORTGAGE TOTAL LIABILITIES OWNER'S EQUITY CAPITAL, DECEMBER 31, 2019 TOTAL LIABILITIES+OWNERS EQUITY 12,000 $ 75,000 $ 8,000 S 1,920 S 100,000 $ 196,920 S 505,280 $ 688,000 S 470,040 S 666,960 $
BUDGET AND PERFORMANCE MEASURES OF THE COMPANY VERTICAL ANALYSIS - EXERCISE 1 INSTRUCTION USE THE INCOME STATEMENTS OF 2018-2019 TO CREATE THE COMPARATIVE INCOME STATEMENT USE THE BALANCE SHEET OF 2018-2019 TO CREATE THE COMPARATIVE BALANCE SHEET