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Income Statement For the Year Ended Dec.31, 2021 2021 2020 Sales 6,875,000 5,432,000 Cost of Goods Sold 3,250,000 2,850,000 Gross Profit ?? ?? Selling and
Income Statement | ||
For the Year Ended Dec.31, 2021 | ||
| 2021 | 2020 |
Sales | 6,875,000 | 5,432,000 |
Cost of Goods Sold | 3,250,000 | 2,850,000 |
Gross Profit | ?? | ?? |
Selling and G&A Expenses | 666,000 | 555,000 |
Fixed Expenses | 200,000 | 200,000 |
Depreciation Expense | 70,000 | 50,000 |
EBIT | ?? | ?? |
Interest Expense | 105,000 | 90,000 |
Earnings Before Taxes | ?? | ?? |
Taxes | 904,400 | 590,450 |
Net Income | ?? | ?? |
Note | ||
Tax Rate | 35% | 35% |
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