Scribd Logo
Upload

Welcome to Scribd!

  • 24 views

    Projected Statement of Income

    Uploaded by

    Lailani Kato
    The document presents the projected statement of income for Palakipac's Powdered Jute Ltd. from 2017 to 2021. It projects increasing sales but rising costs over the years. Operating expenses are expected to remain steady, consisting mainly of salaries, benefits, supplies, utilities and rent. While net income before taxes increases each year, reaching over $500,000 by 2021, income taxes reduce the projected net income to under $250,000 in 2020 and just over $363,000 for 2021.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Projected Statement of Income

    Uploaded by

    Lailani Kato
    24 views1 page
    The document presents the projected statement of income for Palakipac's Powdered Jute Ltd. from 2017 to 2021. It projects increasing sales but rising costs over the years. Operating expenses are expected to remain steady, consisting mainly of salaries, benefits, supplies, utilities and rent. While net income before taxes increases each year, reaching over $500,000 by 2021, income taxes reduce the projected net income to under $250,000 in 2020 and just over $363,000 for 2021.

    Original Description:

    3

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document presents the projected statement of income for Palakipac's Powdered Jute Ltd. from 2017 to 2021. It projects increasing sales but rising costs over the years. Operating expenses are expected to remain steady, consisting mainly of salaries, benefits, supplies, utilities and rent. While net income before taxes increases each year, reaching over $500,000 by 2021, income taxes reduce the projected net income to under $250,000 in 2020 and just over $363,000 for 2021.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    24 views1 page

    Projected Statement of Income

    Uploaded by

    Lailani Kato
    The document presents the projected statement of income for Palakipac's Powdered Jute Ltd. from 2017 to 2021. It projects increasing sales but rising costs over the years. Operating expenses are expected to remain steady, consisting mainly of salaries, benefits, supplies, utilities and rent. While net income before taxes increases each year, reaching over $500,000 by 2021, income taxes reduce the projected net income to under $250,000 in 2020 and just over $363,000 for 2021.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    PALAKIPACS POWDERED JUTE LTD.

    PROJECTED STATEMENT OF INCOME


    2017
    Sales
    Cost of Sales
    Gross Profit
    Less: Operating Expenses
    Salaries Expense
    SSS Contribution
    Phil-Health Contribution
    Pag-ibig Contribution
    Office Supplies Expense
    Delivery Expense
    Depreciation Expense- Leasehold Improvement
    Depreciation Expense- Furniture and Fixtures
    Utilities Expense
    Telephone Expense
    Rent Expense
    Permits and Licenses
    Miscellaneous Expense
    Total Operating Expense

    2018

    2019

    2020

    1,817,857.14 1,800,892.86 2,013,392.86 2,187,500.00


    818,797.76
    842,198.53
    884,726.70
    917,745.50
    999,059.38
    958,694.33 1,128,666.16 1,269,754.50

    2021
    2,382,142.86
    959,973.08
    1,422,169.78

    701,480.00
    48,777.60
    7,950.00
    6,000.00
    4,073.83
    6,000.00
    30,000.00
    5,969.00
    42,000.00
    1,800.00
    22,500.00
    54,300.00
    2,500.00
    933,350.43

    701,480.00
    48,777.60
    7,950.00
    6,000.00
    13,352.31
    7,200.00
    30,000.00
    5,969.00
    42,420.00
    1,818.00
    22,500.00
    5,450.00
    2,500.00
    895,416.91

    701,480.00
    48,777.60
    7,950.00
    6,000.00
    13,753.57
    8,640.00
    30,000.00
    5,969.00
    42,844.20
    1,836.00
    22,500.00
    5,450.00
    2,500.00
    897,700.37

    701,480.00
    48,777.60
    7,950.00
    6,000.00
    14,165.39
    10,368.00
    30,000.00
    5,969.00
    43,272.64
    1,854.00
    22,500.00
    30,450.00
    2,500.00
    925,286.63

    701,480.00
    48,777.60
    7,950.00
    6,000.00
    14,590.35
    12,442.00
    30,000.00
    5,969.00
    43,705.37
    1,873.00
    22,500.00
    5,450.00
    2,500.00
    903,237.32

    Net Income Before Income Tax


    Income Tax (30%)

    65,708.95
    19,712.69

    63,277.42
    18,983.23

    230,965.79
    69,289.74

    344,467.87
    103,340.36

    518,932.46
    155,679.74

    NET INCOME

    45,996.27

    44,294.19

    161,676.05

    241,127.51

    363,252.72

    You might also like