Table | Product categories, sales mix, and gross profit percentages Average selling Percent of Average gross Category price total sales profit percent Coffee and tea $1.24 17 57 Bottled and canned beverages $1.50 48 55 Snacks and candy $1.00 29 38 Other $1.25 6 29 Total 100.0 Note: The gross profit percentages do not factor in product expiration or spoilage, incidental supplies, unrecorded sales, or theftTable Ill Income statements and balance sheets by semester Fall 2009 Spring 2010 Fall 2010 Spring 2011 Fall 2011 Spring 2012 Fall 2012 Net sales $3, 136.48 $3,250.97 $3,292.65 $2, 122.63 $2,582.67 $2,094.95 $2,099.73 Cost of Goods sold (below) (1,874.29) (1,760.43) (1,705.32) (1,796.43) (1,370.19) (1,285.60) (1,275.40) Gross profit 1,262.19 1,490.54 1587.33 326.20 1212.48 809.35 824.33 Allocation to NYC trip (750.00) (750.00) (750.00) (750.00) (750.00) (750.00) (750.00) Contribution to department budget (250.00) (250.00) (250.00) (250.00) (250.00) (250.00) (250.00) Other expenses (470.00) (576.06) Net income (loss) $262.19 $490.54 $587.33 $(673.80) $(257.52) $(190.65) $(751.73) Assets Cash $1,312.64 $2, 138.58 $2,767.28 $1,828.30 $1,552.13 $1,350.32 $716.05 Inventory 423.07 142.36 85.80 425.68 579.64 398.77 387.85 Total assets $1,735.71 $2,280.94 $2,853.08 $2,253.98 $2, 131.77 $1,749.09 $1, 103.90 Liabilities (sales tax) $0.00 $54.69 $39.50 $114.20 $249.51 $57.48 $164.02 Net assets Beginning net assets $1,473.52 $1,735.71 $2,226.25 $2,813.58 $2, 139.78 $1,882.26 $1,691.61 Income 262.19 490.54 587.33 (673.80) (257.52) (190.65) (751.73) Ending net assets $1,735.71 $2,226.25 $2,813.58 $2, 139.78 $1,882.26 $1,691.61 $939.88 Total liabilities and net assets $1,735.71 $2,280.94 $2,853.08 $2,253.98 $2, 131.77 $1,749.09 $1, 103.90 Notes: "Other expenses: flat screen television and store improvements (Fall 2011); installation of television and improvements (Fall 2012). Improvements include painting, signage, and furnishingsTable II Analysis of coffee and tea costs Coffee Tea Pkg. cost Units Cost/unit 12 OZ. 16 OZ. 12 OZ. 16 OZ. Selling price $1. 10 $1.50 $1.10 $1.50 Cost Coffee (72 oz.) $37.58 24 $1.57 0.26 0.35 Tea $4.99 16 $0.31 0.31 0.31 Lid $44.41 1,000 $0.04 0.04 0.04 0.04 0.04 Small cup $66.15 1,000 $0.07 0.07 0.07 Large cup $63.65 6,00 $0. 11 0.11 0.11 Sleeve $62.54 1,200 $0.05 0.05 0.05 0.05 0.05 Sugar/cream (est) 0.07 0.07 0.07 0.07 Total cost/cup $0.49 $0.62 $0.54 $0.58 Gross profit/cup $0.61 $0.88 $0.56 $0.92 Gross profit % 55.5 58.7 50.9 61.3 % of C&T Sales 55 23 10 12 Wgtd ave GP% 30.5 13.5 5.1 7.4 Notes: Average GP % =56.6 percent; weighted average GP % = 56.5 percentTable IV Cost of goods sold and gross profit analysis by semester Fall Spring Fall Spring Fall Spring Fall 2009 2010 2010 2011 2011 2012 2012 Net Sales $3,136.48 $3,250.97 $3,292.65 $2, 122.63 $2,582.67 $2,094.95 $2,099.73 Cost of sales Beg. inventory 106.09 423.07 142.36 85.80 425.68 579.64 398.77 Add: purchases 2, 191.27 1,479.72 1,648.76 2, 136.31 1,524.15 1, 104.73 1,264.48 Available for sale 2,297.36 1,902.79 1,791.12 2,222.11 1,949.83 1,684.37 1,663.25 Less: ending inventory 423.07 142.36 85.80 425.68 579.64 398.77 387.85 Cost of goods sold $1,874.29 $1,760.43 $1,705.32 $1,796.43 $1,370.19 $1,285.60 $1,275.40 Gross profit $1,262. 19 $1,490.54 $1587.33 $326.20 $1212.48 $809.35 $824.33
