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Income Statement for Crest Shoe Company Inc. ...

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Accounting

Income Statement for Crest Shoe Company Inc.
For Year Ending 12/31/19
Sales
Gross Sales $1,139,437
Less Returns $1,805
Net Sales $1,137,632
Cost of Goods Sold
Materials $47,036
Contract Manufacturing $247,950
Licensing Payments $76,387
Total Cost of Goods Sold $371,373
Gross Profit ??????????
Operating Expenses
MARKETING & SALES
Sales & Mktg Salaries $137,243
Collateral & Promotions $13,381
Advertising $27,313
Other Sales & Mkt Costs $3,412
Total Marketing & Sales Expenses $181,349
GENERAL & ADMINISTRATIVE
Office Salaries $115,823
Rent $49,315
Utilities $17,384
Depreciation $11,939
Other Overhead Costs $28,875
Total General & Administrative $223,336
Total Operating Expenses $404,685
Net Income Before Taxes ???????????
Taxes (25%) $90,394
Net Income ????????????

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