Profit and Loss Financial year ending June 30, 2018 Income: Sales $1,270,000 Expenses: Electricity and gas $6,000 Internet $2,200 Office supplies $2,400 Rent $440,000 Stationary $2,600 Wages and salaries $350,000 Superannuateon $33,250 Travel and accommodation $5,600 Water $5,300 Work cover insurance $4,000 Total cost of sales: $851,350 Gross Profit before tax $418,650 Exception report No exceptions to report