Accounting – 5.4 Clubs and societies | e-Consult
5.4 Clubs and societies (1 questions)
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Cafe Income Statement
For the year ended 31 December 2023
| Item | Amount (£) |
| Sales Revenue | 35,000 |
| Cost of Goods Sold | 12,000 |
| Gross Profit | 23,000 |
| Advertising Expense | 500 |
| Cleaning Supplies Expense | 200 |
| Net Profit | 22,300 |
Note: The income statement shows the cafe's profitability for the year. It starts with sales revenue and subtracts the cost of goods sold to arrive at gross profit. Then, operating expenses (advertising and cleaning supplies) are deducted to calculate net profit.