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Fill out the Profit & Loss Statement on the following page based on the information below. Once you have completed the Profit & Loss Statement, answer the questions on page three. Sample T-Shirt Company, INC. needs help with their profit loss statement for their fourth quarter which lasts between October 1st and December 31st. They have sold 14,320 t-shirts this quarter at $20 a shirt. These shirts cost $3 to make. Of all of the shirt orders, 80 percent are shipped to customers. The company offers free shipping, so they must pay an average of $4 in postage per shirt shipped. The company has three employees who each make $80,000 a year. The company has general liability insurance which costs $600 a year, with equal payments every month. The company rents out a small production space for $600 a month. Each month the company pays $300 for web advertising, $200 for print advertising and $500 for television advertising. The company pays 15 percent of their profit in taxes.

Amount % of Total Revenue

Total Revenue

Costs of Goods sold

Gross Revenue

Expenses

Fixed Cost

Wages

Insurance

Rent

Total Fixed Costs

Variable Costs

Advertising

Postage

Total Variable Cost

Total Expenses

Profit before taxes

Tax expense

Net profit

CAN SOMEONE PLEASE FILL OUT THIS CHART!!!!!!!