PLS HELP 7. In addition to a balance sheet, you want to create a profit-and-loss (P&L) statement for the first three months. Typically these statements are for a year-long period, but because your business is new, you want more frequent results. Use the information below to create your P&L statement.

Sales Revenue: $3,546
Cost of Sales (Wages and Supplies): $7,400
Gross Profit: Difference between Sales Revenue and Cost of Sales
Expenses:
Rent: $2,100
Renovations: $30,000
Utilities: $228
Equipment: $15,000

8. Instead of waiting for income tax season to start figuring out what deductions you can claim, you made sure to start keeping track of these items from the very beginning. Create a deduction spreadsheet with the following information from January. Be sure to sort your list by date.
Deduction Category: Travel Expense
Gas from This Town’s Gas’n’Go for flower deliveries: $25.06 on 1/12/14, $32.01 on 1/23/14, and $40.13 on 1/30/14
Deduction Category: Office Supplies
Paper from This Town’s Office Supply Shop: $36.00 on 1/2/14
Cleaning supplies from This Town’s Office Supply Shop: $8.00 on 1/12/14 and $4.50 on 1/16/14

9. Since you live in an area with harsh winters, and some of the most popular flowers you sell are seasonal, you need to import them from other countries. This means you need to convert your prices to the currency used in these other countries to help you compare costs. Create a spreadsheet to convert the cost of the following flowers imported from different countries:

$1.75 per red rose from Columbia
$1.50 per yellow rose from Columbia
$1.50 per batch of baby’s breath from Peru
$2.75 per Delphinium from Peru
$4.00 per pink lily from the Netherlands
$3.50 per tulip from the Netherlands