Revenue
000.23
Gross Profit
Expenses
000.00
oog
2000
2013
£
63,000
2012
£
52,000
Net Profit
Ben runs a bike shop & is trying to complete his income statement to
calculate his profits. He's identified the following costs that he has
incurred for each of the two above years.
2012
Rent £8,000, Cost of sales £17,500, Utilities £1,500 & wages £8,500.
2013
Rent £8,500, Cost of sales £22,000, Utilities £1,700 & wages £9,500.
1. Input the missing information and complete the profit and loss
account
2. Analyse Ben's business performance over the last two years.
3. Explain two ways that the business can increase their profits.