NET INCOME
2020
PROFIT AND LOSS STATEMENT
$114,500
DevAV
Revenue
 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
YTD
Sales
 $50,000  $63,098  $55,125  $23,881  $60,775  $44,500  $50,000  $62,500  $44,850  $51,000  $53,250  $59,000 
$617,979 
Sales Returns (Reduction)
 $0  ($500) $0  $0  ($234) $0  $0  $0  $0  $0  $0  $0 
($734)
Sales Discounts (Reduction)
 ($5,000) ($5,250) ($5,513) ($5,788) ($6,078) ($5,250) ($5,200) ($5,500) ($5,750) ($5,800) ($5,000) ($4,856)
($64,985)
Other Revenue 1
 $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0 
$0 
Other Revenue 2
 $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0 
$0 
Other Revenue 3
 $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0 
$0 
Net Sales
 $45,000  $57,348  $49,612  $18,093  $54,463  $39,250  $44,800  $57,000  $39,100  $45,200  $48,250  $54,144 
$552,260 
Cost of Goods Sold
 $20,000  $21,000  $22,050  $23,153  $24,310  $22,150  $20,000  $21,000  $22,050  $23,000  $20,500  $22,000 
$261,213 
Gross Profit
 $25,000  $36,348  $27,562  ($5,060) $30,153  $17,100  $24,800  $36,000  $17,050  $22,200  $27,750  $32,144 
$291,048 
Operation Expenses
 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
YTD
Salaries & Wages
 $7,500  $7,875  $8,269  $8,682  $9,116  $8,500  $8,000  $8,500  $7,950  $9,000  $8,650  $7,950 
$99,992 
Depreciation
 $500  $525  $551  $579  $608  $560  $500  $525  $550  $610  $580  $590 
$6,678 
Rent
 $1,500  $1,575  $1,654  $1,736  $1,823  $1,620  $1,700  $1,750  $1,680  $1,820  $1,690  $1,725 
$20,273 
Office Supplies
 $475  $499  $524  $550  $577  $525  $500  $499  $550  $525  $577  $475 
$6,276 
Utilities
 $123  $123  $123  $123  $123  $123  $123  $123  $123  $123  $123  $123 
$1,476 
Telephone
 $68  $68  $68  $68  $68  $68  $68  $68  $68  $68  $68  $68 
$816 
Insurance
 $125  $125  $125  $125  $125  $125  $125  $125  $125  $125  $125  $125 
$1,500 
Travel
 $250  $263  $276  $289  $304  $285  $250  $275  $285  $260  $270  $250 
$3,256 
Maintenance
 $100  $105  $110  $116  $122  $105  $100  $110  $120  $115  $100  $110 
$1,313 
Advertising
 $200  $210  $221  $232  $243  $250  $225  $210  $240  $235  $225  $200 
$2,690 
Other 1
 $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0 
$0 
Other 2
 $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0 
$0 
Other 3
 $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0  $0 
$0 
Total Operation Expenses
 $10,841  $11,367  $11,920  $12,500  $13,109  $12,161  $11,591  $12,185  $11,691  $12,881  $12,408  $11,616 
$144,270 
Income From Operations
 $14,159  $24,981  $15,642  ($17,560) $17,044  $4,939  $13,209  $23,815  $5,359  $9,319  $15,342  $20,528 
$146,777 
Interest Income (Expense)
 ($100) ($105) ($110) ($116) ($122) ($110) ($100) ($110) ($115) ($120) ($105) ($115)
($1,328)
Income Before Income Taxes
 $14,059  $24,876  $15,532  ($17,675) $16,922  $4,829  $13,109  $23,705  $5,244  $9,199  $15,237  $20,413 
$145,450 
Income Tax Expense
 $2,400  $2,500  $2,600  $2,700  $2,900  $2,500  $2,600  $2,500  $2,400  $2,700  $2,650  $2,500 
$30,950 
Net Income
 $11,659  $22,376  $12,932  ($20,375) $14,022  $2,329  $10,509  $21,205  $2,844  $6,499  $12,587  $17,913 
$114,500