HOME SUPPLIERS, INC. Comparative Income Statement Years Ended December 31, 2022 and 2021 Amounts Percent of Net Sales Increase or (Decrease) Account Name 2022 2021 2022 2021 Amount Percent Revenue: Sales $1,898,000 $1,642,000 % % % Less: Sales Returns and Allowances 29,500 22,000 % % % Net Sales $1,868,500 $1,620,000 0.0 % 0.0 % $0 % Cost of Goods Sold: Merchandise Inventory, January 1 $76,000 $75,000 % % % Purchases 945,650 800,000 % % % Freight In 9,500 7,500 % % % Less: Purchases Discounts 10,000 8,250 % % % Purchases Returns and Allowances 8,250 5,000 % % % Total Merchandise Available for Sale $1,012,900 $869,250 0.0 % 0.0 % $0 % Less: Merchandise Inventory, December 31 78,000 76,000 % % % Cost of Goods Sold $934,900 $793,250 % % % Gross Profit on Sales $933,600 $826,750 0.0 % 0.0 % $0 % Operating Expenses: Selling Expenses Advertising $25,000 $21,000 % % % Sales Salaries 200,000 175,000 % % % Payroll Taxes Sales 20,000 17,500 % % % Supplies Expense 11,825 9,650 % % % Miscellaneous Selling Expenses 9,575 7,950 % % % Insurance Expense 7,700 7,500 % % % Total Selling Expenses $274,100 $238,600 0.0 % 0.0 % $0