Vaughn, Inc.

Comparative Income Statement

Years Ended December $31,2025$ and $2024$

$202520242023$

Net Sales Revenue $$184,000$ $$156,000$

Cost of Goods Sold $97,00085,000$

Selling and Administrative Expenses $48,50041,000$

Interest Expense $10,00011,500$

Income Tax Expense $12,5008,000$

Net Income $$16,000$ $$10,500$

Additional data:

Total Assets $$201,000$ $$190,000$ $$175,000$

Common Stockholders' Equity $93,50092,00080,000$

Preferred Dividends $2,0002,0000$

Common Shares Outstanding During the Year $15,00015,00010,000$