Peyton Approved Income Statement For Year Ended 12/31/2017 Bakery Sales $327,322.55 Merchandise Sal 1,205.64 Total Revenues 328,528.19 Cost of Goods S 105,834.29 Cost of Goods S 859.77 Total Cost of Goods Sold 106,694.06 Gross Profit 221,834.13 Operating Expenses: Rent Expense 24,549.19 Wages Exper 10,670.72 Misc. Supplie 3,000.46 Business Lice 2,045.77 Misc. Expense 1,363.84 Depreciation 677.86 Insurance Exp 1,091.08 Advertising E 1,549.74 Interest Exper 818.31 Telephone Ex 490.98 Loss on disopos 100.00 Total Operating Expenses: 46,357.95 Net Income 175,476.18