Assignment 3.2 (LONE PINE CAFE (B)) (All figures are in $)Income statement for 2 November 2009 to 30 march 2010

Sales revenue43480

870Total Revenue (A) 44350

Less:-Expenses Salaries to partners 23150Part time employee wages 5480Food and beverage supplierBeginning inventory 2800Cash purchase 10,016Credit purchase 1,538Ending inventory -24,30

11,969Telephone and Electricity 3,270Rent expense 7,500Depreciation 2,445Operating license 595Interest 540Miscellaneous 255

Total Expenses (B) 55204

Net Income (A-B) -10854

Note:- Income statement tells that partnership suffered 10854 for the first five month of operation, 10854 is loss after taking salary 23150 by all partners.Further it is not advisable to continue the café operation any more.

Income statement tells that partnership suffered 10854 for the first five month of operation,