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Auto repair shop income statement. Insurance Cost per Year 4000. Other Expenses Note 1. Startup Expenses for an Auto Repair Shop.
You can see that Charity Auto is 103076 short of the required profit to have the retained earnings and return on investment it needs. SampleAutobody StatementofProfitandLossunloaded Dec ofSales YTD GP Sales Labor BodyLabor 5170000 3147 62040000 6335 PaintLabor 2350000 1431 28200000 4681. The benchmark for net profit for an automotive shop is 20 of sales.
An income statement is a summation of a companys revenue and expenses for a period. Dynamic forecasting on all revenue and expense items with up to 5 financing options. September 17100 and October 7100.
Most repair shops produce. Reeds Auto Repair Attn. Assumptions of RevenueExpenses are the following.
To calculate Sample Autobodys body labor gross profit percentage for the month of December subtract body labor COGS from body labor sales divide that by body labor sales and multiply by 100. Income Statement for Illustrative Auto Repair shows net income for the first six months of 2001 to be 571190 after taxes. Diagnostic Machine 5000 to 10000.
The rough estimate suggests the phases of the time and product construction necessary for their implementation. Income Statement Data Sales Income 305981 256175 Cost of Sales COGS 184079 134540 Gross Profit 121902 121635 Gross Profit Margin 3984 4748 Net Profit before Taxes 25147 28893 Adjusted Net Profit before Taxes 25147 28893 Net Profit Margin 822 1128 Balance Sheet Data Cash Bank Funds 98469 108211 Accounts. Prepare the Income statement the statement of owners equlty and the classified balances Bagin by preparing the Income statement.
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