imagine you starting your own business and it is a mobile coffee shop. rent for the space is 7,000 a month. You also need to pay 2,000 month for the water, sewage, electricity, and heat use. Your food truck alone cost 95,000 but came fully equipped with storage, stove top, and cooling dept. you have to buy an expresso machine and 4 tables with 4 chairs for sitting area. You also pay 1000 a month for advertising. Every other expense is up to you. given this info and your imagination. Create an Income Statement for your business complete with numbers and account titles.

make sure you include the following:

-COGS

-Gross Sales

-Income tax based on a 21% rate

-Operating Expenses

-Net Profit or Net Loss