Total revenue Expenses: Monroe Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2021 and 2020 Cost of goods sold Selling and general expenses Interest expense Income tax expense Total expenses Net income $ $ 2021 2020 844,000 $ 934,000 400,000 270,000 12,000 86,000 731,300 768,000 MUOSTEENAN 112,700 $ 166,000 404,000 234,000 9,300 84,000 Increase (Decrease) Amount Percentage % % % % % % %

Monroe Music Co. Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2021 and 2020