Q2-4 site report Additional

.docx
Please see the below-mentioned reports. Income statement for year-end 30 June 23 Net sales Cash $22,000 Credit $25,000 $47,000 Less good sold. Open inventory $5,000 Purchases $10,000 $15,000 Less closing inventory $7,000 $8,000 Gross profit $39,000 Less operating expenses Marketing expenses $4,000 Administration Expenses $4,000 Financial Expenses $2,000 $10,000 Net profit $29,000
Balance sheet as at 30 June 23 Current Assets Short term investment $10,000 Inventory $7,000 Accounts receivable $10,000 $27,000 Non-Current Assets Land and building $10,000 Plant and machinery $10,000 $20,000 Total Assets $47,000 Current liabilities Accounts payable $15,000 Bank overdraft $5,000 $20,000 Non-current liabilities Mortgage $5,000 $5,000 Total liabilities $25,000 Net Assets $22,000 Owners' equity Capital $52,000 Less drawing $1,000 $51,000 Plus, Net profit $29,000 $22,000
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