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The Sample Cafe nearly broke even in the first month of business. Below is a simplified income statement for January along with some notes regarding
The Sample Cafe nearly broke even in the first month of business. Below is a simplified income statement for January along with some notes regarding specific transactions.
Sample Cafe Income Statement Summary Month Ended January 31, 20xx
Item | Value | Note |
---|---|---|
Revenue | $28,800 | Includes $800 for a special event that has been invoiced, but not yet paid. |
Cost of Goods Sold | $3,200 | Includes $1,800 of cups used from inventory plus $1,400 of coffee beans. An additional $400 of large cups were purchased and delivered during the week but not yet paid for. |
Total Expenses | $26,000 | Includes equipment depreciation of $200. |
Net Income | $-400 | n/a |
Update the Sample Cafe balance sheet for January 31 using the template below to reflect the month of operations.
* Input Accumulated Depreciation as a negative value.
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