Module 5: Critical Thinking Marketing

Anonymous
timer Asked: Dec 13th, 2018
account_balance_wallet $15

Question description

Pretend you own a dress and suit shop and in need of a line of credit for working capital from your bank. The bank requires a profit and loss statement as part of their underwriting criteria. In an Excel document, create a profit-and-loss statement (P&L) that would be typical for your industry. See the table from Chapter 12 in the textbook, Donna's Gift Shop, as an example. Do not copy that P&L statement. Then, in a Word document, write about the following:

Define and discuss the significance to the retailer of the line items found in the P&L of Net Sales, Cost of Goods, Gross Profit, Operating Expenses, Net Profit, and any other rows in the P&L you wish to include.

  1. How does the information in the P&L apply to, and benefit, the retailer?
  2. How does the P&L relate to the balance sheet? How are they different and how do they inform one another?
  3. Include any sample calculations that you believe are important to inform your response.

The P&L statement must be in an Excel document and written responses in a Word document, which should meet the following requirements:

  1. Be 3 to 4 double-spaced pages, not to include the title page and references,
  2. Cite at least 3 scholarly resources other than the course textbook, and
  3. Be formatted according to the CSU-Global Guide to Writing and APA Requirements (Links to an external site.)

Tutor Answer

Tutor_Booth
School: UIUC

Hey! Kindly find the attached answer and in case of any issue, let me know.Thank you and all the best

Unique Clothing
Profit and Loss Statement
For the Year ended 31st Dec 2017
Income

Gross Profit
Expenses

Total Expenses
Net Profit

Sales
$
Cost of Goods Sold $
$

180,000.00
89,000.00
91,000.00

Advertising
$
Insurance
$
Utilities
$
Bank Service Charges$
Other expenses
$
$

800.00
500.00
600.00
200.00
2,000.00
4,100.00

$

91,000.00

$
$

4,100.00
86,900.00


Running head: PROFIT AND LOSS STATEMENT

Profit and Loss statement
Name
Institution
Date

1

PROFIT AND LOSS STATEMENT

2

Introduction
The profit and loss statement is a special financial statement which summarizes the
revenues, the costs as well as the expenses which are incurred by a business during a given period
of time. The profit and loss statement is also known as the income statement. The records found
in the P&L statement give information about the ability of a given business organization to
generate profit by increasing the revenue, reducing the costs or both. The profit and Loss statement
explains the changes in different accounts over a specific period of time which is usually a year
(Cooper, 2017).
For our case, we will consider the profit and loss statement of Unique Clothing. Unique
Clothing is a dress and ...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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