Product A Electric Vehicle Battery (EVB)

Data for the Income Statement (EVB)

The expected total sales for this product for the year ended 30 June 2022 are $8,000,000 and the expected total costs and operating expenses are $5,000,000 and the costs will be allocated as follows:

Table A-1

Cost/Expense item	Amount ($)
Cost of goods sold	1,200,000
Sales Salaries expense	450,000
Office Salaries expense	400,000
Advertising expense	350,000
Office supplies expense	328,000
Rent expense	840,000
Insurance expense	230,000
Utilities expense	290,000
Depreciation expense	282,000
Interest expense	280,000
Tax expense	350,000
Total	5,000,000

2.1 Income Statement

Income Statement (for 2022) Electric Vehicle Battery

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