Sheet1
Profit and Loss Account
£ £
Sales 444,000
less cost of sales
Purchases 199,800
Closing stock 12,000
211,800
Gross profit 232,200
Less expenses
Rent 26,000
Rates 18,000
Wages 67,200
Phone 720
Post 2,400
Distribution 20,800
Advertising 3,820
Loan 12,000
Heating and light 8,000
Insurance 800
Depreciation 10,500
Total expenses 170,240
Net profit before tax 61,960
Profit and Loss Account
£ £
Sales 444,000
less cost of sales
Purchases 199,800
Closing stock 12,000
211,800
Gross profit 232,200
Less expenses
Rent 26,000
Rates 18,000
Wages 67,200
Phone 720
Post 2,400
Distribution 20,800
Advertising 3,820
Loan 12,000
Heating and light 8,000
Insurance 800
Depreciation 10,500
Total expenses 170,240
Net profit before tax 61,960