Banana Computing Company Income Statement Historical Fiscal year 2021 Common-size Fiscal year 2021 Forecast Revenue $ 9,056,000.00 Production Costs - Total $ 2,435,500.00 100.00% 26.89% Fiscal year 2022 $ 10,056,330.00 $ 2,792,790.00 Common-size Fiscal year 2022 100.00% 27.77% Packaging & Shipping costs $ 385,200.00 4.25% $ 459,320.00 4.57% Sales Commission $ 271,680.00 3.00% $ 301,689.00 3.00% Total Cost of Goods Sold $ 3,092,380.00 34.15% $ 3,553,799.00 35.34% Gross Margin $ 5,963,620.00 65.85% $ 6,502,531.00 64.66% Fixed Costs Depreciation Expense $ 80,000.00 0.88% $ 100,000.00 0.99% R&D, Design and Product Development $ 750,000.00 8.28% $ 850,000.00 8.45% Marketing $ 1,250,000.00 13.80% $ 1,500,000.00 14.92% Warehouse facilities expenses $ 1,200,000.00 13.25% $ 1,250,000.00 12.43% General & Admin $ 1,685,000.00 18.61% $ 1,754,470.00 17.45% Total Fixed Costs $ 4,965,000.00 54.83% $ 5,454,470.00 54.24% EBIT $ 998,620.00 11.03% $ 1,048,061.00 10.42% Interest Expense $ 202,000.00 2.23% $ 243,378.00 2.42% EBT $ 796,620.00 8.80% $ 804,683.00 8.00% Tax Expense $ 123,476.10 1.36% $ 124,725.87 1.24% Net Income $ 673,143.90 7.43% $ 679,957.14 6.76%