Question: can you please answer this question Create a P&L statement based on the template provided in class in your P&L handout for Horizon Business Concepts
can you please answer this question Create a P&L statement based on the template provided in class in your P&L handout for Horizon Business Concepts Inc. You are provided with the following information: 1. Service Lines: Horizon offers multiple aviation services. Below find the details of revenue for each service Sale of spare parts Fuel sale Oil sale Solo Aircraft Rental Charter flights Flight store Shop Labor Maintenance Service) GSE (Ground Support Equipment) servicing $12,000 $60,000 $1,800 $24,000 $24.000 $48,000 $6,000 $ 60,000 $6,000 2. COGS depend on the specific product: Spare parts are sold with a markup from their base cogs of 33.33% Fuel cost is at 70% of your revenue from the sale Oil cost is at 67% of your revenue from the sale All other services have cogs that derive from operating your fleet and paying your pilots. Specifically, you incur a cost of $3,000 for pilots needs/supplies, and a cost of $36,000 for your airplanes Wages include those of pilots and your shop mechanics. You have respectively to pay wages for $12,000 and $36,000. 3. Additional Items: Your typical general and administrative costs consist of Utilities ($2,400), telephone bills and services ($2,400) and building maintenance ($18,000). Taxes include FICA and Medicare, for $6,000 and $1,200 respectively Compute the bottom line, as well as your gross margin and return on sales
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