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%