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Support EX 5 2020

The document presents the profit and loss summary for Tibetan Grill restaurants in Illinois and Iowa for 2020. Total sales were $24.5 million with food sales accounting for $20.1 million and beverage sales for $4.4 million. Total prime costs were $16.5 million, including $7.5 million for cost of goods sold and $8.9 million for payroll costs. Operating expenses totaled $3.1 million. Occupancy costs amounted to $2.5 million and interest and depreciation to $1.2 million, resulting in pretax profit of $1.2 million.

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73 views3 pages

Support EX 5 2020

The document presents the profit and loss summary for Tibetan Grill restaurants in Illinois and Iowa for 2020. Total sales were $24.5 million with food sales accounting for $20.1 million and beverage sales for $4.4 million. Total prime costs were $16.5 million, including $7.5 million for cost of goods sold and $8.9 million for payroll costs. Operating expenses totaled $3.1 million. Occupancy costs amounted to $2.5 million and interest and depreciation to $1.2 million, resulting in pretax profit of $1.2 million.

Uploaded by

TTV TimeKpR
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd
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Tibetan Grill

Author Gail Bailey


Date 4/1/2020
Purpose To present the profit and loss summary for Tibetan
Grill restaurants in the Illinois/Iowa region for 2020
Tibetan Grill
Illinois and Iowa Franchises
Annual Profit & Loss Statement ending March 31, 2020

SALES 2020
Food Sales $ 20,102,245
Beverage Sales 4,472,844
TOTAL SALES 24,575,089

COST OF GOODS SOLD


Food Costs 6,258,741
Beverage Costs 1,323,674
TOTAL COST OF GOODS SOLD 7,582,415

PAYROLL COSTS
Wages 6,615,979
Employee Benefits 1,493,458
Payroll Tax 821,174
TOTAL PAYROLL COSTS 8,930,611

PRIME COSTS 16,513,026

OPERATING EXPENSES
Maintenance 514,692
Utilities 967,814
Administrative 576,940
Marketing 547,117
Other Expenses 497,688
TOTAL OPERATING EXPENSES 3,104,251

CONTROLLABLE PROFIT 4,957,812

OCCUPANCY COSTS
Rent 1,317,573
Property Taxes 708,352
Insurance 524,736
TOTAL OCCUPANCY COSTS 2,550,661

INTEREST AND DEPRECIATION


Interest 767,568
Depreciation 422,800
TOTAL INTEREST AND DEPRECIATION 1,190,368
PRETAX PROFIT $ 1,216,783

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