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