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Profit & Loss Statement
Directions:
Fill out the Profit & Loss Statement on the following page based on the information
below. Once you have completed the Profit & Loss Statement, answer the questions A
on page three.
401
Sample T-Shirt Company, INC. needs help with their profit loss statement for their
fourth quarter which lasts between October 1st and December 31st. They have sold
14,320 t-shirts this quarter at $20 a shirt. These shirts cost $3 to make. Of all of the
shirt orders, 80 percent are shipped to customers. The company offers free shipping,
so they must pay an average of $4 in postage per shirt shipped. The company has
three employees who each make $80,000 a year. The company has general liability
insurance which costs $600 a year, with equal payments every month. The company
rents out a small production space for $600 a month. Each month the company pays
$300 for web advertising, $200 for print advertising and $500 for television
advertising. The company pays 15 percent of their profit in taxes.
