Revenue (Gross Sales) $ 3,413,060.00 Cost of Goods Sold: Merchandise Inventory: Jan 1st, 2020 Merchandise Purchases Goods Available for Sale 91,450.00 515,585.00 (M] $ 88,810.00 Merchandise Inventory: Dec 31st, 2020 Total Cost of Goods Sold GROSS PROFIT $ Operating Expenses: Salaries and Wages Advertising Shipping and Transportation Depreciation: Warehouse & Product Repairs Total Selling and Shippping Expenses 1,115,000.00 28,220.00 34,870.00 31,110.00 Administration Expenses: Salaries and Wages Supplies Utilities Depreciation: Office Equipment Interest Expenses Miscellaneous Expenses/Business Meetings Total Administration Expenses 460,222.00 12,245.00 33,535.00 11,700.00 28,880.00 15,220.00 jo TOTAL OPERATING EXPENSES Operating Income (Income Before Taxes) Income Taxes (Cumulative) $ 292,197.00 NET INCOME (FINAL)