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A-5 XYZ Company, Inc. Comparative Income Statements

XYZ Company, Inc. Comparative Income Statements
For The Years Ended Dec. 31, 2002 and Dec. 31, 2003

  2003 2002
         
Sales $ 2,102,358 100.0% $ 2,006,888 100.0%
         
Cost of Sales        
Beginning Inventory 331,764 15.8 146,078 7.3
Purchases 1,469,825 69.9 1,569,161 78.2
Other Costs 136,003 6.5 67,771 3.4
Goods Avail. for Sale $1,937,592 92.2 $ 1,783,010 88.9
Less: Ending Inventory 501,575 23.9 331,764 16.5
Cost of Sales $ 1,436,017 68.3 $ 1,451,246 72.4
         
Gross Profit $ 666,341 31.7 $ 555,642 27.6
         
Operating Expenses        
Advertising $ 4,341 .2 $ 7,444 .4
Auto & Truck 8,264 .2 3,990 .2
Bad Debts 807   385  
Bank Charges 110   66  
Casual Labor 3,586 .2 11,149 .6
Commissions 41,298 2.0 37,987 1.8
Contributions 1,194 .1 420  
Depreciation 16,658 .8 13,636 .7
Dues & Subscriptions 1,925 .1 1,480 .1
Entertainment 10,181 .5 2,287 .1
Equipment Rent 6,601 .3    
Fuel 13,133 .6 10,119 .5
Insurance 50,788 2.4 38,346 1.8
Janitorial Service 4,299 .2 1,540 .1
Leasing 11,688 .6 19,115 1.0
Legal & Accounting 1,911 .1 7,934 .4
Miscellaneous 41,124 2.0 2,821 .1
Office Supplies 12,711 .6 8,759 .4
Rent 19,246 .9 13,683 .7
Repairs & Maintenance 4,533 .2 11,270 .6
Salaries 238,674 11.2 228,444 11.4
Shop Supplies 10,097 .5 6,098 .3
Taxes - General 3,643 .2 3,704 .2
Taxes - Payroll 19,269 .9 23,242 1.2
Telephone 14,119 .7 12,066 .6
Travel 8,981 .4 12,838 .6
Utilities 8,165 .4 7,885 .4
Total Operating Exp. $ 557,356 26.5% $ 486,708 24.2%
         
Net Operating Income $ 108,985 5.2% $ 68,934 3.4%
         
Other Income (Expense)        
Discounts Earned $ 2,915 .1 $ 1,695 .1
Discounts Allowed ( 3,385) (.2) ( 7,804) (.4)
Interest Expense (43,759) ( 2.0) (22,835) ( 1.2)
Total Other Inc./ (Exp.) $ 44,529 ( 2.1) $ 28,944 ( 1.5)
         
Net Income $ 64,456 3.1% $ 39,990 2.0%

 

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