WELLS MOBILE APPS AND ACCESSORIES Income Statement For Year Ended December 31, 2013 Revenues: Sales Less: Cost of goods sold $ 38,000.00 Gross Profit Other Expenses: Depreciation Expense-Building $ 13,300.00 Depreciation Expense-Equipment $ 7,580.00 $ 52,000.00 $ 890.00 Salaries Expense Insurance Expense Supplies Expense Advertising Expense Utilities Expense Other expenses Net income $ 23,958.00 $ 9,830.00 $ 6,000.00 $113,558.00 $ 38,442.00 Retained earnings, December 31, 2012 WELLS MOBILE APPS AND ACCESSORIES Statement of Retained Earnings For Year Ended December 31, 2013 $ 60,000.00 Plus: Net income $ 38,442.00 Total Less: Dividends $ 98,442.00 $(24,000.00) Retained earnings, December 31, 2013 $ 74,442.00