• QUESTION 1

I have to put the following information in to the profit or loss.

ONS: will be required to work out the tax and whether the business made a profit or a loss.

$100,000 Rental income

$15,000 telephone bill

$50,000 investment income

$10,000 COGS

$15,000 tools

$400,000 sales

$150,000 wages

$5,000 telephone bill

$9,000 income tax

$XX,XXX company tax

SO I HAVE O MATCH THE INFORMATION ABOVE WITH THE ITEMS BELOW

Income

TOTAL INCOME

Less COGS

GROSS INCOME

Expenses

Total Expenses

Gross Profit before tax

Less Company tax (27.5%)

Net Profit after tax

• QUESTION 2

Did the business above make a Profit or a Loss? Why?

• QUESION 3

If this company were to grow by 8% this year, and 9% next year, what would the net profit be in two years from now?

Net Profit

This year = $250,850

+ One Year = ?

+ Two Years = ?