Revenues:
- Sales of Products: $75,000.00
- Repair Service: $40,000.00
Total Revenues: $115,000.00
Cost of Goods and Services Sold (COGS): $33,000.00
Gross Profit: Total Revenues - COGS = $115,000.00 - $33,000.00 = $82,000.00
Operating Expenses:
- Salaries and Wages: $20,000.00
- Office Supplies: $2,500.00
- Interest Expense: $1,200.00
- Advertising Expenses: $3,800.00
- Rent Expense: $8,000.00
Total Operating Expenses: $35,500.00
Net Income: Gross Profit - Total Operating Expenses = $82,000.00 - $35,500.00 = $46,500.00