1 A Worksheet Name: N Revenue (Gross Sales) $ 1,923,180.00 min 6 5 Cost of Goods Sold: Merchandise Inventory: Jan 1st, 2019 Merchandise Purchases Goods Available for Sale $ $ 134,250.00 450,000.00 7 8 [M] 9 10 $ 83,000.00 Merchandise Inventory: Dec 31st, 2019 Total Cost of Goods Sold IN 11 12 13 GROSS PROFIT (O) 16 $ $ $ $ 600,250.00 55,700.00 22,800.00 25,250.00 [P] 14 15 Operating Expenses: Salaries and Wages 17 Advertising 18 Shipping and Transportation 19 Depreciation: Warehouse & Product Repairs 20 Total Selling and Shippping Expenses 21 22 Administration Expenses: 23 Salaries and Wages 24 Supplies 25 Utilities 26 Depreciation: Office Equipment 27 Interest Expenses 28 Miscellaneous Expenses/Business Meetings 29 Total Administration Expenses 30 31 TOTAL OPERATING EXPENSES $ $ $ $ 326,500.00 22,250.00 50,000.00 13,300.00 23,500.00 10,525.00 $ $ 1 [Q] (R) [S] $ 19,500.00 3 Operating Income (Income Before Taxes) 4 Income Taxes (Cumulative) 35 36 NET INCOME (FINAL) (T)