Jan - Dec 07 Jan - Dec 08 Ordinary Income/Expense Income Revenue 372,951.45 410,
ID: 2371235 • Letter: J
Question
Jan - Dec 07
Jan - Dec 08 Ordinary Income/Expense
Income
Revenue 372,951.45
410,246.60
Total Income 372,951.45
410,246.60
Cost of Goods Sold
Direct Labor
Wages - Warehouse 18,630.00
19,188.90
Total Direct Labor 18,630.00
19,188.90
Freight Costs 1,810.00
1,918.60
Packaging Materials 1,752.50
1,875.18
Purchases (Cost of Goods) 161,945.83
171,662.58
Sales Commission (outside reps) 3,990.80
8,204.93
Total COGS 188,129.13
202,850.19
Gross Profit 184,822.32
207,396.41
Expense
Advertising Expense 2,000.00
2,600.00
Business License & Fees 710.23
710.23
Car/Truck Expense
Car Lease 6,756.00
6,756.00
Gas 907.64
1,361.46
Insurance-Auto 1,440.00
1,440.00
Registration & License 546.00
546.00
Repairs & Maintenance 1,700.23
2,500.00
Total Car/Truck Expense 11,349.87
12,603.46
Conferences and Seminars 4,700.00
5,000.00
Contributions 2,500.00
2,000.00
Depreciation Expense 923.04
910.48
Dues and Subscriptions 1,900.00
1,900.00
Insurance
General Liability Insurance 2,760.00
2,760.00
Owner's Health Insurance 4,272.00
4,336.08
Professional Liability Insuranc 6,875.00
6,875.00
Worker's Compensation 2,782.08
2,782.08
Total Insurance 16,689.08
16,753.16
Maintenance/Janitorial 2,841.95
3,000.00
Marketing Expense 4,982.00
5,500.00
Meals 1,376.35
2,000.00
Office Equipment 1,100.00
1,500.00
Postage and Delivery 1,098.00
1,300.00
Professional Fees
Accounting Fees 2,544.00
3,000.00
Legal Fees 600.00
500.00
Payroll Service Fees 1,529.24
2,000.00
Total Professional Fees 4,673.24
5,500.00
Promotional Expense 2,021.00
2,000.00
Rent 7,005.00
7,005.00
Repairs
Computer Repairs 390.00
500.00
Total Repairs 390.00
500.00
Supplies 6,199.36
7,000.00
Telephone 4,003.44
4,500.00
Travel & Entertainment
Travel 3,452.23
4,000.00
Total Travel & Entertainment 3,452.23
4,000.00
Utilities 501.59
Wages
Employee Benefits 2,253.96
2,321.58
Payroll Tax Expenses 3,751.05
3,863.58
Sick/Holiday & Vacation Pay 0.00
0.00
Wages - Office Staff 5,832.00
6,006.96
Total Wages 11,837.01
12,192.12
Total Expense 92,253.39
98,474.45 Net Ordinary Income 92,568.93
108,921.96 Other Income/Expense
Other Expense
Other Expense
Interest Expense 2,296.45
2,500.00
Total Other Expense 2,296.45
2,500.00
Total Other Expense 2,296.45
2,500.00 Net Other Income -2,296.45
-2,500.00
90,272.48
106,421.96
Jan - Dec 07
Jan - Dec 08 Ordinary Income/Expense
Income
Revenue 372,951.45
410,246.60
Total Income 372,951.45
410,246.60
Cost of Goods Sold
Direct Labor
Wages - Warehouse 18,630.00
19,188.90
Total Direct Labor 18,630.00
19,188.90
Freight Costs 1,810.00
1,918.60
Packaging Materials 1,752.50
1,875.18
Purchases (Cost of Goods) 161,945.83
171,662.58
Sales Commission (outside reps) 3,990.80
8,204.93
Total COGS 188,129.13
202,850.19
Gross Profit 184,822.32
207,396.41
Expense
Advertising Expense 2,000.00
2,600.00
Business License & Fees 710.23
710.23
Car/Truck Expense
Car Lease 6,756.00
6,756.00
Gas 907.64
1,361.46
Insurance-Auto 1,440.00
1,440.00
Registration & License 546.00
546.00
Repairs & Maintenance 1,700.23
2,500.00
Total Car/Truck Expense 11,349.87
12,603.46
Conferences and Seminars 4,700.00
5,000.00
Contributions 2,500.00
2,000.00
Depreciation Expense 923.04
910.48
Dues and Subscriptions 1,900.00
1,900.00
Insurance
General Liability Insurance 2,760.00
2,760.00
Owner's Health Insurance 4,272.00
4,336.08
Professional Liability Insuranc 6,875.00
6,875.00
Worker's Compensation 2,782.08
2,782.08
Total Insurance 16,689.08
16,753.16
Maintenance/Janitorial 2,841.95
3,000.00
Marketing Expense 4,982.00
5,500.00
Meals 1,376.35
2,000.00
Office Equipment 1,100.00
1,500.00
Postage and Delivery 1,098.00
1,300.00
Professional Fees
Accounting Fees 2,544.00
3,000.00
Legal Fees 600.00
500.00
Payroll Service Fees 1,529.24
2,000.00
Total Professional Fees 4,673.24
5,500.00
Promotional Expense 2,021.00
2,000.00
Rent 7,005.00
7,005.00
Repairs
Computer Repairs 390.00
500.00
Total Repairs 390.00
500.00
Supplies 6,199.36
7,000.00
Telephone 4,003.44
4,500.00
Travel & Entertainment
Travel 3,452.23
4,000.00
Total Travel & Entertainment 3,452.23
4,000.00
Utilities 501.59
Wages
Employee Benefits 2,253.96
2,321.58
Payroll Tax Expenses 3,751.05
3,863.58
Sick/Holiday & Vacation Pay 0.00
0.00
Wages - Office Staff 5,832.00
6,006.96
Total Wages 11,837.01
12,192.12
Total Expense 92,253.39
98,474.45 Net Ordinary Income 92,568.93
108,921.96 Other Income/Expense
Other Expense
Other Expense
Interest Expense 2,296.45
2,500.00
Total Other Expense 2,296.45
2,500.00
Total Other Expense 2,296.45
2,500.00 Net Other Income -2,296.45
-2,500.00
90,272.48
106,421.96
Explanation / Answer
net income
1,025,477/-
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