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LOWRY DEPARTMENT STORE Income Statement.

LOWRY DEPARTMENT STORE
Income Statement
For the Year Ended November 30, 2010

Sales revenues
Sales $ 1,273,736
Less: Sales returns and allowances 28180

Net Sales 1245556
Cost of Goods Sold 892320

Gross Profit 353236
Operating Expenses
Salaries expense $ 164853
Rent expense 47906
Utilities expense 14935
Depr. exp.-Store equip. 13386
Insurance expense 12681
Delivery expense 8736
Depr. exp.-Delivery equip. 5636
Property tax expense 4932

Total operating expenses 273065

Income from operations 80171
Other revenues and gains
Gain on sale of equipment $ 2818
Other expenses and losses
Interest expense 7045
4227

Income before income taxes 75944
Income tax expense 14090

Net income $ 61854

May 23 2018 Read more Less More

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