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Income Statement

The Eco-Chic Company income statement outlines projected income and expenses from 2024 to 2028. Income from Eco-Chic Accessories is expected to grow from approximately $311,927 in Year 1 to $545,563 in Year 5, while total operating expenses increase steadily. Profit before income tax is projected to rise from $60,842 in Year 1 to $110,064 in Year 5, with profit after tax remaining consistent at the same figures.

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Lovely Joy Quistadio
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12 views2 pages

Income Statement

The Eco-Chic Company income statement outlines projected income and expenses from 2024 to 2028. Income from Eco-Chic Accessories is expected to grow from approximately $311,927 in Year 1 to $545,563 in Year 5, while total operating expenses increase steadily. Profit before income tax is projected to rise from $60,842 in Year 1 to $110,064 in Year 5, with profit after tax remaining consistent at the same figures.

Uploaded by

Lovely Joy Quistadio
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

ECO-CHIC COMPANY

INCOME STATEMENT
FOR THE YEARS 2024, 2025, 2026,2027, AND 2028
Schedule YEAR 1 YEAR 2 YEAR 3 YEAR 4
Eco-Chic Accessories Income 311,927.30 358,716.40 412,523.86 474,402.44
Less: Operating expense - - - -
Business Permit 1 2,865 3,008.25 3,158.66 3,316.60
Salaries Expense 2 137,280 144,144 151,351.20 158,918.76
Incentive and Bonuses 3 28,800 30,240 31,752.00 33,339.60
Fringe Benefits 4 15,900 16,695 17,530 18,406
Promotion Expense 5 600 630 661.50 694.58
Raw Materials 6 30,600 32,130 33,737 35,423
Freight-out 7 5,760 6,048 6,350.40 6,667.92
Electricity and Water Expense 8 14,400 15,120 15,876.00 16,669.80
Packaging Cost 9 14,880 15,624 16,405.20 17,225.46
Total Operating Expense 251,085 263,639.25 276,821.21 290,662.27
Profit before Income Tax 60,842 95,077.15 99,831.01 104,822.56
Tax Due - - - -
Profit After Income Tax 60,842.30 95,077.15 99,831.01 104,822.56
YEAR 5
545,562.81
-
3,482.43
166,864.70
35,006.58
19,327
729.30
37,194
7,001.32
17,503.29
18,086.73
305,195.39
110,063.69
-
110,063.69

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