Income Statement

Name
Time Period
Revenue
Package 1                  7,350,000
Package 2                 2,700,000
Total revenue          10,050,000
Cost Pkg 1                5,880,000
Cost Pkg 2                 2,160,000
Total Cost                 8,040,000
Gross Profit              2,010,000

Less Operating Expenses
Printing                      8,000

Rent expense            300,000

Marketing                   50,000

Legal and Professional Fees 25,000

Bills 100,000

Depreciation Expense (Equip) 10,500

Depreciation Expense (Furniture) 10,000

Transportation 80,000

Salary 60,000

Total Expenses 643,500
Income Before Tax 1,366,500
Tax 232,305

Net Income 1,134,195

we are taking 50 peoples in single tour and we are arranging 4 tours in a year so we are multiplying cost with number of people and tour we are taking in a year.

BALANCE SHEET OF 2020 – 2021

BALANCE SHEET

             
Assets Equities
Current Asset Liabilities    

Cash 500,000 Advance from customer 350,000
Prepaid (Hotel) 150,000      Bills Payable 20,000
Total Current Assets 650,000 Rent payable 50,000
Salary payable 59,500
Total liability 479,500

Fixed Asset Owners’ Equity    

Furniture 200,000 Capital invested by partners 500,000

Less Depreciation 10,000 190,000        
Equipment 150,000          
Less Depreciation 10,500 139,500        
Total fixed assets 329,500        
Total assets 979,500 Total equities 979,500

Prepare cash disbursement schedule and cash receivable schedule .

break even is 25.77