Question

Table 2. Income statement

Sales	Dollars	% of Sales
Complete Feed	$1,129,137	43.36
Concentrate Feed	$637,732	24.49
Comm Grade Fert	$326,341	12.53
Custom Blend Fert	$510,977	19.62
Total	$	%
COGS
Complete Feed	$864,735
Concentrate Feed	$515,004
Comm Grade Fert	$
Custom Blend Fert	$220,272
Total	$1,939,767	74.49
Gross Margin
Complete Feed	$264,402
Concentrate Feed	$122,728
Comm Grade Fert	$106,069
Custom Blend Fert	$
Total	$664,420	%
Operating Expenses
Storage – FC	$22,150	%
Storage – VC	$163,691	6.29
Storage Rental	$2,478	0.10
Truck – FC	$40,250	%
Truck – VC	$91,666	3.52
Truck Rental	$4,662	0.18
Manager’s Salary	$50,000	%
Labor	$197,000	%
Overtime	$38,975	1.50
Bad Debt Loss	$4,518	0.17
Advertising	$4,000	%
Other Expenses	$19,276	0.74
Total Expenses	$638,664	%
Net Operating Profit	$25,756	0.99
Other Income	$900	0.03
Interest Expense	$26,528	%
Pre-Tax Profit	$	0.00

What is the pre-tax profit for this firm?

Answer 1