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Key to what's included in the income statement

Click here for the key to the balance sheet

Sales
Cost of Goods (including freight-in and delivery charges)
Gross Profit

Adjustments to Gross Margin
Volume discounts on purchases (should be a positive number)
Surcharge Income

Adjusted Gross Profit

Personnel Expense

• Employee Salaries (including contract labor)
• Payroll Taxes & Worker's Comp (incl. FICA, SLJTA, UC, and Worker's Compensation)
• Insurance for Health, Dental, Life, etc.
• Benefits: vacation, sick time, bonuses
• Employee Discounts
• Member Labor Discounts
• Recruitment & Training Expense

Occupancy Expense

• Building Rent (including office rent)
• Mortgage Interest (if you own your building)
• Licenses and fees
• Repairs & Maintenance (incl. in-house labor for repairs, maintenance)
• Real Estate and Property Taxes
• Utilities (gas, electric, water)
• Insurance
• Building Services (snow plowing, pest control, linen, security)

Depreciation/Amortization

Operating Expense

• Telephone
• Trash/Baler
• Store Supplies (non-office related)
• Bank Charges
• Credit Card Fees
• Over/Shorts
• Returned Checks
• Non-member Discounts
• Vehicle Expense
• Miscellaneous Expense
• Small Equipment Purchases

Administrative Expense

• Professional Services (incl. accounting, legal)
• Office Supplies (incl. postage, printing)
• Dues/Subscriptions
• Intra-Cooperative Expense
• Administrative Services (including payroll, inventory)
• Buying Trips/Conventions

Governance

• Board Expense
• Newsletter
• Member Services

Member Sales Discounts

Promotions

• Advertising
• Merchandising & Promotions
• Contributions
• Fund Raising
• Senior Discounts

Other Income

• Interest Income
• Rental Income
• Member Dues
• Education/Workshops
• Patronage Rebate Income
• Miscellaneous (gain on assets, sundry)

Other Expense

• Patronage Rebate Expense
• Miscellaneous (tax penalties, loss on asset)

Interest Expense

Income Tax Provision

Key to what's included in the balance sheet

Current Assets

• Other Current Assets
  • Accounts Receivable
  • Prepaid Expense
• Cash and Cash Equivalents
• Inventory

Fixed Assets

• Land, Building (Less Accumulated Depreciation)
• Equipment (Less Accumulated Depreciation)
• Leasehold or Building Improvements (Less Accumulated Depreciation)
• Construction/Expansion in Progress

Other Assets

• Co-op Warehouse Equity
• Other Co-op Equity & Stock
• Other Deferred Assets

Current Liabilities

• Other Current Liabilities
  • Accrued Payroll
  • Accrued Employee Benefits
  • Payroll Tax Payable
  • Real Estate Tax Payable
  • Sales Tax Payable
  • Income Tax Payable
  • Food Certificates Payable
  • Patronage Rebate Payable
  • Current Portion: Notes Payable
• Accounts Payable

Long-Term Liabilities

• Notes Payable - Members
• Notes Payable - Other (Less Current Portion of Long-Term)

Member Equity

• Equity
  • Paid in member Capital
  • Donated Capital
  • Member Shares
  • Deferred Patronage Refund
  • Allocated Reserves
• Retained Earnings
• Current Period Earnings

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