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Assignment 1: Creating a P&L Statement Task Scenario A. Using the template provided create a skeletal P&L statement for a fashion retail house using the information provided below. Gross Sales CRA% COGS Net Profit $625,000 6.5% 38% $11,687.50 Note: This is a one-month analysis of the retail house's performance. Complete all fields of P&L statement in dollars and percentages. Scenario B. Consider that the lease on the retail house's building has expired and rent for the present location has ju
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  Assignment 1: Creating a P&L Statement   Task    Scenario A . Using the template provided create a skeletal P&L statement for a fashion retail house using the information provided below. Gross Sales  $625,000 CRA%  6.5% COGS   38%   Net Profit  $11,687.50 Note : This is a one-month analysis of the retail house's performance. Complete all fields of P&L statement in dollars and percentages. Scenario B . Consider that the lease on the retail house's building has expired and rent for the  present location has just increased by $12,000 per month. Using the template complete the Scenario B section creating a new skeletal P&L in dollars and complete all fields in dollars and percentages. Based on the skeletal P&L statements, what plan of action would you suggest to restore the net  profit to its srcinal positive number, as calculated in Scenario A? Explain how your suggested action would make up for the loss. Deliverable  Use the given template to document your responses and submit it to the W2: Assignment 1 Dropbox  by Saturday, August 31, 2013 . You can use the Microsoft Word or Excel template depending on your comfort  —   you'll be graded on the calculations and not on the choice of template. Participation  Start reviewing and responding to your classmates as early in the week as possible. Continue the discussion through the end of the week. By Monday, September 2, 2013 , review and respond to at least two of your classmates' work, providing constructive feedback, suggestions, questions, and additional helpful information. Each peer response should be a minimum of 150 words. Information, comments, and conclusions should be supported by your research and sources. Keep the following in mind when you are responding to your peers:    Did they discuss any thoughts that you had not considered?     What did you learn from their post? Grading Scale for Assignment Criteria:   Excellent   Good   Moderate   Needs Improvement   Below Standard   Unacceptable  5 Points 4.5 4 3.5 3 0  –  2 Points Excellent   Good   Moderate   Needs Improvement   Below Standard   Unacceptable  10 Points 8.5 8 6.5 6 0  –  4 Points Excellent   Good   Moderate   Needs Improvement   Below Standard   Unacceptable  15 Points 12.5 12 9.5 9 0  –  6 Points Excellent   Good   Moderate   Needs Improvement   Below Standard   Unacceptable  20 Points 16.5 16 12.5 12 0  –  8 Points Assignment 1 Grading Criteria   Maximum Points   Content   Correctly calculated the dollars and percentages figures for the P&L statement for Scenario A.   10   Correctly calculated the dollars and percentages figures for the P&L statement for Scenario B. 10 Suggested a plan of action to restore the net profit to its srcinal positive number.  10 Justified the suggested plan of action.  10 Format  Used the given template to document responses and submitted it to the W2: Assignment 1 Dropbox  by Saturday, August 31, 2013 . Used the Word or Excel template. 5 Participation   Commented on at least two peers’ assignments with specific remarks within 48 hours of the assignment deadline  —  Monday, September 2, 2013  —  at least 150 words for each response. Comments included at least two of the following:    Questions regarding the content of assignment.    Observations regarding the content of assignment.    Constructive feedback to assist classmates with 5  improving their work. Vocabulary and topics from the text/lecture should be used to support your discussion, and sources should be cited in MLA format. Total:   50   For assistance with any problems you may have when completing this assignment — OR — to offer your assistance to classmates, please use the Problems and Solutions Discussion area located through the left side navigation link.

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