Mike Owjai Finance

Income Statements

For the Year Ended December $31,2020$

$2020$

Sales ratio

Cost of Goods $2,965,000$

Gross Profit formula

Depreciation $72,000$

Selling & Admin. Expense $954,250$

Lease Expense $45,750$

Earnings Before Interest & Taxes formula

Interest Expense ratio

Earnings Before Taxes formula

Taxes formula

Net Income ratio

Note: Tax Rate $25\mathrm{.}00\%$