FIN575 University of Phoenix Profit and Loss Statement Assignment

FIN575

University of Phoenix

### Question Description

Purpose of Assignment

The purpose of this assignment is to continue with the Profit and Loss Statement part of the projected financial statements for your Entrepreneurial Venture. The costs involved with Operations will now be added to the Revenue projections from Week 2. One goal is to effectively minimize the cumulative error between the projected values and actual values over the relevant time horizon. Please review the Budget Format Workbook posted to class messages.

Note: The official term Income Statement is also known informally as Profit and Loss Statement.

Assignment Steps

Analyze the revenue items based on information collected and add them to your projected financial statements.

Create a 350-word Profit and Loss Statement following the income statement format.

Conduct an internet search or use the example located in the textbook for the course.

Format assignment consistent with APA guidelines.

Attached.

Income Statement Forecast
Jan

Feb

Mar

Apr

May

\$30.000,00

\$36.000,00

\$43.200,00

\$51.840,00

\$62.208,00

\$600,00

\$720,00

\$864,00

\$1.036,80

\$1.244,16

Net sales revenue

\$29.400,00

\$35.280,00

\$42.336,00

\$50.803,20

\$60.963,84

Less cost of goods sold

\$18.000,00

\$21.600,00

\$25.920,00

\$31.104,00

\$33.592,32

Gross profit

\$11.400,00

\$13.680,00

\$16.416,00

\$19.699,20

\$27.371,52

\$800,00

\$800,00

\$800,00

\$800,00

\$700,00

Freight out: motor vehicle expense

\$400,00

\$400,00

\$500,00

\$500,00

\$600,00

Stationery

\$200,00

\$200,00

\$200,00

\$200,00

\$200,00

Rent

\$800,00

\$800,00

\$800,00

\$800,00

\$800,00

Electricity and gas

\$200,00

\$200,00

\$200,00

\$200,00

\$200,00

Accounting fees

\$500,00

\$500,00

\$500,00

\$500,00

\$500,00

Insurance

\$200,00

\$200,00

\$200,00

\$200,00

\$200,00

\$50,00

\$50,00

\$50,00

\$50,00

\$50,00

Postage, telephone and fax

\$350,00

\$350,00

\$350,00

\$350,00

\$350,00

Repairs and maintenance

\$400,00

\$400,00

\$400,00

\$400,00

\$400,00

Security

\$300,00

\$300,00

\$300,00

\$300,00

\$300,00

\$0,00

\$0,00

\$0,00

\$0,00

\$0,00

Sales Revenue
Sales (invoiced)
Less sales returns and allowances

Operating Expenses
Selling Expenses:

Depreciation

Sundries
Superannuation
Wages
Workers compensation
Operating Income

\$0,00

\$0,00

\$0,00

\$0,00

\$0,00

\$1.500,00

\$1.500,00

\$1.500,00

\$1.500,00

\$1.500,00

\$800,00

\$800,00

\$800,00

\$800,00

\$800,00

\$4.900,00

\$7.180,00

\$9.816,00

\$13.099,20

\$20.771,52

\$1.000,00

\$1.000,00

\$1.000,00

\$1.000,00

\$1.000,00

Other income and expenses
Rent Income
Less bank interest

\$833,33

\$2.000,00

\$2.000,00

\$2.000,00

\$2.000,00

Net other income and expenses

\$166,67

-\$1.000,00

-\$1.000,00

-\$1.000,00

-\$1.000,00

\$13.400,00

\$15.680,00

\$18.416,00

\$21.699,20

\$29.371,52

\$5.066,67

\$6.180,00

\$8.816,00

\$12.099,20

\$19.771,52

Gross profit margin

38%

38%

38%

38%

44%

Net profit margin

17%

17%

20%

23%

32%

Total

Result
Net profit

Jun

Jul

Aug

Sep

Oct

Nov

Dec

\$74.649,60

\$89.579,52

\$107.495,42

\$128.994,51

\$154.793,41

\$185.752,09

\$222.902,51

\$1.492,99

\$1.791,59

\$2.149,91

\$2.579,89

\$3.095,87

\$3.715,04

\$4.458,05

\$73.156,61

\$87.787,93

\$105.345,52

\$126.414,62

\$151.697,54

\$18...

carlosQ (1587)
Carnegie Mellon University
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