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Income Statement TTC

The document contains income statements for the Toronto Transit Commission, Michael Kors Ltd, and Adidas, detailing their revenue, expenses, and net income for specified periods. The Toronto Transit Commission shows a steady increase in net income from $23,645 in October to $27,419 in January. Michael Kors Ltd and Adidas also report their financials, with Adidas achieving net sales of $1,400,000 after discounts and returns.

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Preeti Uppal
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8 views5 pages

Income Statement TTC

The document contains income statements for the Toronto Transit Commission, Michael Kors Ltd, and Adidas, detailing their revenue, expenses, and net income for specified periods. The Toronto Transit Commission shows a steady increase in net income from $23,645 in October to $27,419 in January. Michael Kors Ltd and Adidas also report their financials, with Adidas achieving net sales of $1,400,000 after discounts and returns.

Uploaded by

Preeti Uppal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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TORONTO TRANSIT COMMISSION

INCOME STATEMENT
DATE 27 FEBURARY 2024
OCTOBER NOVEMBER DECEMBER JANUARY
REVENUE
SALES $50,000 $52,500 $55,125 $57,881
SALES RETURNS 0 0 0 0
SALES DISCOUNTS $5,000 $5,250 $5,513 $5,788
OTHER REVENUE 0 0 0 0
NET SALES $55,000 $57,750 $60,638 $63,669
COST OF SERVICES SOLD -$20,000 -$21,000 -$22,100 -$23,801
GROSS PROFIT $35,000 $36,750 $38,538 $39,868
OPERATING EXPENSES
SALARIES AND WAGES $7,500 $7,875 $8,269 $8,269
DEPRICIATION EXPENSES $500 $525 $551 $579
OFFICE EXPENSES $475 $499 $524 $550
RENT EXPENSES $1,500 $1,575 $1,654 $1,736
TRAVEL EXPENSES $250 $263 $276 $289
MAINTENANCE EXPENSES $100 $105 $110 $116
ADVERTISING EXPENSES $200 $210 $221 $232
OTHER EXPENSES $0 $0 $0 $0
TOTAL OPERATING EXPENSES $10,525 $11,052 $11,605 $11,771
INCOME FROM OPERATIONS $24,475 $25,699 $26,984 $28,339
INTEREST INCOME (EXPENSES) -$100 -$110 -$120 -$130
INCOME BEFORE TAXES $24,375 $25,589 $26,864 $28,209
INCOME TAX EXPENSE -$730 -$750 -$770 -$790
NET INCOME $23,645 $24,839 $26,094 $27,419
N MICHAEL KO
Income state

for the year end


FEBRUARY Sales/Revenue
Discount and Allowences
$60,775 Sales Return
0 Net Sales
$6,078 Cost Of Good sold
0 Opening Inventory
$66,853 Purchase Return
-$24,200 Transport in/Customs
$42,653 Closing Inventory
Total Cost Of Good Sold
$9,116 Gross Profit
Operating
$608
Expenses
$577 Salaries
$1,823 Rent
$304 Refreshments
$122 Insurance
$243 Electricity
$0 Supplies
$12,793 Telephone Expenses
$29,668 Repair & Maintainance
-$140 Interest
$29,528 Depriciation
-$810 Advertising Expenses
$28,718 Other Expenses
Total Operating Expenses
Operating Profit(loss)
Other income/expense
Equipment Sold
Earning Before Interest & Tax
Tax expense
Net Income
MICHAEL KORS Ltd
Income statement

for the year ending 2023


$ 2,000,000.00
$ 10,000.00
$ 200,000.00
$1,790,000

$ 250,000.00
-$ 70,000.00
$ 60,000.00
-$ 90,000.00
$150,000
$1,640,000

$ 90,000.00
$ 40,000.00
$ 3,000.00
$ 90,000.00
$ 11,000.00
$ 45,000.00
$ 15,000.00
$ 1,500.00
$ 8,500.00
$ 45,000.00
$ 35,000.00
$ 600.00
Expenses $384,600
$1,255,400

$20,000
nterest & Tax $1,235,400
$370,620
$864,780
GROUP MEMBERS
AMANDEEP KAUR
MANDEEP SINGH
PREETI
VIRAAJ GAHLAWAT
ADIDAS
INCOME STATEMENT
DATE 31 DECEMBER 2023
REVENUE/SALES $1,500,000
DISCOUNTS -$35,000
SALES RETURNS -$65,000
NET SALES $1,400,000
COST OF SOLD GOODS

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