Income Statement for the first three months (revenues minus costs)

Question

Below is the cost price for our stall products: 

Coffee Smoothie Choc Lava: RM7.90

Dalgona Coffee Boba Milk: RM8.50

Matcha Latte: RM5.90

White Coffee: RM6.90

Cappuccino: RM5.90

Below is the selling price of our stall product:

Coffee Smoothie Choc Lava: RM9.90

Dalgona Coffee Boba Milk: RM10.90

Matcha Latte: RM7.90

White Coffee: RM8.90

Cappuccino: RM7.90

Revenue: 

Profit: 

Answer 1

It would appear that this is a single-step income statement. I am assuming that since no additional information is provided that 1 of everything was sold or the prices above represent the total amounts for each item. Thus, we may see that the following occurs:

REVENUES

Coffee Smoothie Choc Lava: RM9.90

Dalgona Coffee Boba Milk: RM10.90

Matcha Latte: RM7.90

White Coffee: RM8.90

Cappuccino: RM7.90

Total Revenues: RM 45.50

COSTS

Coffee Smoothie Choc Lava: RM7.90

Dalgona Coffee Boba Milk: RM8.50

Matcha Latte: RM5.90

White Coffee: RM6.90

Cappuccino: RM5.90

Total Costs: RM 35.10

Profits = Total Revenues – Total Costs = RM 45.50 – RM 35.10 = RM 10.40

Thus, we may see total revenues are RM 45.50 and total profits are RM 10.40.