Consider recent financials for Ellie 's Essentials LLC : Balance Sheet 2018 2017 Current Assets $1 1 , 225.00 $10 , 000. 00 Net PPE $31 , 000. 00 $30 , 000 . 00 Total Assets $42 , 225.00 $40, 000. 00 Current Liabilities $8 , 441.00 $8, 000. 00 Long-term debt $13 , 970.00 $12 , 000 . 00 Total Liabilities $22 , 41.1.00 $20, 000. 00 Shareholder Equity $19 , 814.00 $20, 000. 00 Liabilities and Equity $42 , 225. 00 $40, 000. 00 Income Statement 2018 2017 SALES $11 , 000 .00 $10 , 000. 00 COGS $4, 400. 00 $4, 000. 00 GROSS PROFIT $6 , 600. 00 56 , 000. 00 S& A $1 , 100. 00 $1 , 000. 00 Depreciation $550. 00 $500. 00 EBIT $4 , 950.00 $4 , 500.00 INTEREST $1 , 272.00 $1 , 200. 00 EBT 53, 678. 00 $3 , 300. 00 TAXES ( 36. 00% ) $1 , 324.08 $1 , 188. 00 NET INCOME $2 , 353.92 $2 , 112.00