Income Statement (for 2022) Solar Panel Battery

Batteries R Us Ltd (Solar Panel Battery) Income Statement for the year ended 30 June 2022
	$	$
Sales
Gross Profit
Operating Expenses
Operating Profit/EBIT
Profit before tax
Net profit

Data for the Income Statement (SPB)

The expected total sales for this product for the year end 30 June 2022 are $16,000,000 and the expected total costs and operating expenses are $10,400,000. The costs will be allocated as follows:

Table B-1

Cost/Expense item	Amount ($)
Cost of goods sold	4,700,000
Sales Salaries expense	750,000
Office Salaries expense	600,000
Advertising expense	850,000
Office supplies expense	528,000
Rent expense	980,000
Insurance expense	390,000
Utilities expense	490,000
Depreciation expense	282,000
Interest expense	380,000
Tax expense	450,000
Total	10,400,000