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Create a profit-and-loss statement. A profit-and-loss statement shows income or revenue. It also lists expenses during a period of time. The main purpose of this document is to find the net income. If the net income is a positive number, the company shows a gain. If the net income is a negative number, the company is showing a loss. To find the net income, simply add revenues and subtract expenses. Create a profit-and-loss statement with the following information. Calculate totals and net income. Make appropriate formatting changes. Save and print.

Profit-and-Loss Statement for Flowers Galore
September 1, 2008
Revenues
Gross income from sales 67,433
Expenses
Mortgage
Materials
Advertising
Insurance
Utilities
Employees
Bookkeeping
Total expenses 8,790
2,456
6,300
750
491
22,000
3,350
Net Income

1 answer

Here is a properly formatted Profit-and-Loss Statement for "Flowers Galore" based on the provided information:

Profit-and-Loss Statement for Flowers Galore
September 1, 2008

Revenues
Gross income from sales: $67,433

Expenses
Mortgage: $8,790
Materials: $2,456
Advertising: $6,300
Insurance: $750
Utilities: $491
Employees: $22,000
Bookkeeping: $3,350

Total Expenses: $43,137

Net Income: $24,296

Calculations:

  1. Total Expenses Calculation:

    • Mortgage: $8,790
    • Materials: $2,456
    • Advertising: $6,300
    • Insurance: $750
    • Utilities: $491
    • Employees: $22,000
    • Bookkeeping: $3,350

    Total Expenses = $8,790 + $2,456 + $6,300 + $750 + $491 + $22,000 + $3,350 = $43,137

  2. Net Income Calculation:

    • Net Income = Revenues - Total Expenses
    • Net Income = $67,433 - $43,137 = $24,296

Summary:

  • Total Revenue: $67,433
  • Total Expenses: $43,137
  • Net Income: $24,296 (indicating a gain)

You can now save and print this document for your records.