Item Notes Includes 500 medium cups medium cups sold to the college and delivered to a reception that has been invoiced, but not yet paid. 5-year life 8,000 medium cups of coffee sold at $3.00 each 4,300 large cups of coffee sold at $4.00 each Espresso maker purchased last year for $12,600 $720 premium for business Insurance $3,800 for rent $2,100 for coffee beans $1,700 for coffee cups $16,000 to employees for payroll $100 of interest on loan $1,000 for electricity and water $12.000 in 200 in advertising Premium for full year Includes $2,100 in rent deposits Includes coffen discarded valued at $100 O cupt in inventory at the beginning of January, S600 worth of cups still in inventory at the end of month, $2,600 ewed in payroll taxen Paid mid-month Includes $600 in utility deposits $3.000 per week biled monthly Account Balance Revenues $ 0 Cost of Goods Sold $ 0 Gross Margin, or Gross Profit $ 0 Expenses Salaries and Wages $ 0 : Rent and Utilities $ 0 Advertising $ 0 . Insurance $ 0 Equipment Depreciation $ 0 Interest $ 0 Total Expenses $ 0 Net Income $ 0