7:07 PM KCP Corporation

09/25/18 Profit & Loss

Accrual Basis January through December 2014

Jan - Dec 14
Ordinary Income/Expense
Income
Sales
Sales discounts -35,000.00
Sales - Other 12,330,000.00
Total Sales 12,295,000.00

Total Income 12,295,000.00

Cost of Goods Sold
Decrease in Work-in-Process 29,900.00
Direct Labor 920,150.00
Freight in 51,000.00
Increase in Finished Goods -60,000.00
Increase in Raw Materials -10,000.00
Indirect Labor 515,300.00
Miscellaneous Factory Overhead 120,610.00
Payroll Taxes Expense 130,300.00
Purchases - R/M
Purchases discount -537,090.00
Purchases - R/M - Other 4,970,500.00
Total Purchases - R/M 4,433,410.00
Water and Electricity 270,460.00
Total COGS 6,401,130.00

Gross Profit 5,893,870.00

Expense
Administrative Salaries 770,300.00
Advertising Expenses 130,200.00
Amortization of Patent 29,000.00
Dep-Building and Equipment 780,000.00
Dep-Furniture & Fixtures 19,000.00
Impairment loss 11,000.00
Insurance Expense 49,200.00
Miscellaneous General Expenses 140,700.00
Sales Salaries and Commission 310,000.00
Total Expense 2,239,400.00

Net Ordinary Income 3,654,470.00

Other Income/Expense
Other Income
Interest income 166,730.00
Royalty income 184,750.00
Total Other Income 351,480.00
Other Expense
Income Taxes Expense 80,000.00
Interest Expense 125,000.00
Total Other Expense 205,000.00

Net Other Income 146,480.00

Net Income 3,800,950.00

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