In: Finance
Please construct an income statement for the firm |
|
Format (monetary figures, underlines, headings) |
|
Groupings correct |
|
Correct numbers |
|
Assume: |
|
1) That 7.5% of patient services revenue is likely uncollectable |
|
2) That the firm has equipment with the following information: |
|
Purchase price: $3,700,000 |
|
Scrap value: $604,889 |
|
Years of use: 7 |
|
Delivery and building reading charges: $160,000 |
|
Staff to work machine: $180,000 (per year) |
|
Date | (Multiple Items) |
Row Labels | Average of Amount |
General expense | 213646.875 |
Grant | 42717.5 |
Investment income | 31863 |
Other revenue | 9996.111111 |
Patient service revenue | 59724.82245 |
Supplies | 155944.5385 |
Wages | 376014.3947 |
Grand Total | 93643.85386 |
Income Statement | in $ | Notes | |
Patient service revenue | 59,725 | ||
Other revenue | 9,996 | ||
Total Revenue | 69,721 | ||
Staff to Work Machine | (180,000) | ||
Supplies | (155,945) | ||
Wages | (376,014) | ||
Cost of Goods Sold | (711,959) | ||
Gross Profit | (642,238) | Revenue - COGS | |
General Expense | (213,647) | ||
EBITDA | (855,885) | =Gross Profit-SG&A | |
Depreciation | (465,016) | Assuming straight line depreciation | |
=(Purchase Price + Capitalized delivery, building and staff cost - Salvage value)/Life of asset | |||
EBIT | (1,320,901) | ||
Grant | 42,718 | ||
Investment income | 31,863 | ||
Other Income | 74,581 | ||
Other Expenses | 0 | No information | |
EBT | (1,246,320) | ||
Taxes | 0 | No information | |
Profit After tax | (1,246,320) |