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XYZ Retailers (Private) Limited Income Statement
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US$'2024
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Sales 37,996
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Cost of goods sold
(21,690)
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Gross profit
 16,306
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Rental expense
(500)
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Salaries(6,000)
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Fuel expense
(600)
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Vehicle repair expenses
(1,200)
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Electricity and water expenses
(350)
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Stationery and printing expenses
(650)
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Other expenses
(2,650)
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Depreciation expense
(3,380)
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Operating income
 976
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Interest expense
(420)
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Profit before tax
 556
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Income tax expense
(139)
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Net profit 417
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Business Loan
 5,600
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Annual interest rate
10%
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Monthly interest rate
1%
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Monthly principal
 467
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9 months principal
 4,200
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Monthly interest expense
 47
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9 months interest expense
 420
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