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Emma H.

asked • 14d

Profit & Loss Statement... fill out the chart


TO ANSWER THIS YOU NEED TO FILL OUT THE CHART BELOW

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!!!!!!!


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