Cleaning Services Financial Statement
This financial statement provides a comprehensive overview of our financial performance for the year, showcasing our strong revenue growth, prudent cost management, and solid financial position as we continue to serve our clients with high-quality cleaning services.
Income Statement
Revenue | |
Residential Cleaning | 550,000 |
Commercial Cleaning | 320,000 |
Specialized Services | 230,000 |
Total Revenue | 1,100,000 |
| |
Cost of Goods Sold (COGS) | |
Labor Costs | 460,000 |
Supplies | 160,000 |
Equipment Maintenance | 80,000 |
Total COGS | 700,000 |
| |
Gross Profit | 400,000 |
| |
Operating Expenses | |
Administrative Salaries | 90,000 |
Marketing Expenses | 70,000 |
Rent | 30,000 |
Utilities | 10,000 |
Total Operating Expenses | 200,000 |
| |
Net Income Before Taxes | 200,000 |
Income Tax Expense (20%) | 40,000 |
Net Income | 160,000 |
Balance Sheet
Current Assets | |
Cash and Cash Equivalents | 100,000 |
Accounts Receivable | 50,000 |
Inventory (Supplies) | 20,000 |
Total Current Assets | 170,000 |
| |
Fixed Assets | |
Equipment (net of depreciation) | 120,000 |
Total Fixed Assets | 120,000 |
| |
Total Assets | 290,000 |
| |
Liabilities and Equity | |
Current Liabilities | |
Accounts Payable | 30,000 |
Accrued Expenses | 20,000 |
Total Current Liabilities | 50,000 |
| |
Equity | |
Retained Earnings | 240,000 |
Total Equity | 240,000 |
| |
Total Liabilities and Equity | 290,000 |
Cash Flow Statement
Cash Flows from Operating Activities | |
Net Income | 160,000 |
Adjustments for: | |
Depreciation | 20,000 |
Changes in Working Capital | (30,000) |
Net Cash Provided by Operating Activities | 150,000 |
| |
Cash Flows from Investing Activities | |
Purchase of Equipment | (40,000) |
Net Cash Used in Investing Activities | (40,000) |
| |
Cash Flows from Financing Activities | |
Loan Repayments | (10,000) |
Net Cash Used in Financing Activities | (10,000) |
| |
Net Increase in Cash | 100,000 |
Cash at Beginning of Period | 0 |
Cash at End of Period | 100,000 |
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