Salon Income Statement - Special Highlights Hair Salon...

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Special Highlights Hair Salon Author Diamond Brumfield Date Sunday, September 11, 2016 Purpose To develop a projected income statement for Special Highlights Hair Salon
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Prepared by: Diamond Brumfield 9/11/2016 Salon Income Statement Page 2 Income Statement Special Highlights Hair Salon Income Statement Income Gross Sales $ 294,000 Cost of Sales 97,020 Gross Profit $ 196,980 Operating Expenses Salaries and Wages $ 98,280 Taxes and Benefits 7,371 Insurance 3840 Utilities/Telephone 10320 Advertising 1800 Supplies/Misc. 4000 Lease 9020 Interest 2707 Depreciation 3570 Sales Tax 14,700 Total Operating Expenses $ 155,608 Total Operating Profit/Loss 41,372 Income Taxes 14,480 Net Profit/Loss $ 26,892
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Prepared by: Diamond Brumfield 9/11/2016 Salon Income Statement Page 3 Income Statement Special Highlights Hair Salon Assumptions for the Projected Income Statement Gross Sales Cost of Sales Payroll Taxes and Benefits FICA taxes are assumed to be 7.5% of gross wages Insurance Utilities/Telephone Advertising Supplies/Misc. Lease Interest
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