=+Optical Solutions Inc. Comparative Income Statement For the Years Ended December 31, 2010 and 2009 2010 2009
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=+Optical Solutions Inc.
Comparative Income Statement For the Years Ended December 31, 2010 and 2009 2010 2009 Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,608,000 $1,481,600 Sales returns and allowances . . . . . . . . . . . . 5,920 6,000 __________ ___________ Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,602,080 $1,475,600 Cost of goods sold . . . . . . . . . . . . . . . . . . . . 480,200 499,200 __________ ___________ Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . $1,121,880 $ 976,400 __________ _________ Selling expenses . . . . . . . . . . . . . . . . . . . . . $ 324,000 $ 352,000 Administrative expenses . . . . . . . . . . . . . . . . 234,000 211,200 __________ ___________ Total operating expenses . . . . . . . . . . . . . . . $ 558,000 $ 563,200 __________ ___________ Income from operations . . . . . . . . . . . . . . . . $ 563,880 $ 413,200 Other income . . . . . . . . . . . . . . . . . . . . . . . . 24,000 19,200 __________ ___________
$ 587,880 $ 432,400 Other expense (interest) . . . . . . . . . . . . . . . . 110,720 80,000 __________ ___________ Income before income tax . . . . . . . . . . . . . . $ 477,160 $ 352,400 Income tax expense . . . . . . . . . . . . . . . . . . . 49,160 38,400 __________ ___________ Net income . . . . . . . . . . . . . . . . . . . . . . . . . $ 428,000 $ 314,000 __________ ___________ __________ ___________ Optical Solutions Inc.
Comparative Balance Sheet December 31, 2010 and 2009
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