Income Statement for Crest Shoe Company Inc. ...

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Income Statement for Crest Shoe Company Inc.

For Year Ending 12/31/19
Sales
Gross Sales		$1,139,437
Less Returns	$1,805
Net Sales	$1,137,632

Cost of Goods Sold
Materials	$47,036
Contract Manufacturing	$247,950
Licensing Payments	$76,387
Total Cost of Goods Sold	$371,373

Gross Profit	??????????

Operating Expenses
MARKETING & SALES
Sales & Mktg Salaries	$137,243
Collateral & Promotions	$13,381
Advertising	$27,313
Other Sales & Mkt Costs	$3,412
Total Marketing & Sales Expenses	$181,349

GENERAL & ADMINISTRATIVE
Office Salaries	$115,823
Rent	$49,315
Utilities	$17,384
Depreciation	$11,939
Other Overhead Costs	$28,875
Total General & Administrative	$223,336

Total Operating Expenses	$404,685

Net Income Before Taxes	???????????

Taxes (25%)	$90,394

Net Income	????????????