Principles of Caribbean Tax and Tax Management:
Brick & Stone
Income Statement for the year ended 31 December 2010
Notes
$
$
Sales
2,500,000
Cost of Sales
1
1,100,000
Gross Profit
1,400,000
Expenses
Salaries & Wages
2
760,000
Employer Social Security Contribution
2,400
Rent and Rates
3
240,000
Insurance
50,000
Maintenance
120,000
Depreciation
4
55,000
Los on Disposal of Vehicle
5
10,000
Telephone
6
35,000
Electricity
7
54,000
Utilities
70,000
Entertainment
8
100,000
Donations
9
85,000
Provision for Bad Debts...