What SUP, Inc.

Income Statement
For the Year Ended

12/31/19 12/31/20 2019 - %

Sales Revenue $ 950,000.00 $ 1,300,000.00 100%
Less: Cost of Goods Sold 500,000.00 800,000.00 53%
Gross Margin 450,000.00 500,000.00 47%
Expenses:
Advertising 30,000.00 45,000.00 3%
Depreciation 25,000.00 28,000.00 3%
Interest 50,000.00 22,000.00 5%
Other 15,000.00 17,000.00 2%
Payroll 160,000.00 190,000.00 17%
Utilities 35,000.00 40,000.00 4%
Net income before taxes 135,000.00 158,000.00 14%
Income taxes 30,000.00 40,000.00 3%
Net income $ 105,000.00 $ 118,000.00 11%

2020 Expenses Expe

200,000.00
180,000.00
Advertising 160,000.00
Depreciation 140,000.00
120,000.00
Interest 100,000.00
Other 80,000.00
Payroll 60,000.00
Utilities 40,000.00
20,000.00
-

12/31/19
 2020 - % % Change
100% 37%
62% 60%
38% 11%

3% 50%
2% 12%
2% -56%
1% 13%
15% 19%
3% 14%
12% 17%
3% 33%
9% 12%

Expense Comparison

000.00
000.00
000.00
000.00
000.00
000.00
000.00
000.00
000.00
000.00
- 12/31/19

12/31/19 12/31/20
 What SUP, Inc.
Balance Sheet
as of December 2020

Assets 12/31/19 12/31/20 2019 - %

Current Assets:
Cash $ 35,000.00 $ 25,000.00 6%
Accounts Receivable 60,000.00 65,000.00 10%
Inventory 115,000.00 140,000.00 19%
Prepaid Expenses 10,000.00 8,000.00 2%
Supplies 8,000.00 7,000.00 1%
Property, Plant, and Equipment:
Land 120,000.00 120,000.00 20%
Building 300,000.00 300,000.00 50%
Equipment 67,000.00 93,000.00 11%
Less: Accumulated Depreciation (115,000.00) (143,000.00) -19%
Total $ 600,000.00 $ 615,000.00 100%

Liabilities and Stockholders' Equity

Liabilities
Current Liabilities:
Accounts Payable $ 52,000.00 $ 40,000.00 9%
Payroll Liabilities 8,457.36 11,457.36 1%
Long-Term Debt 150,000.00 56,000.00 25%
Stockholders' Equity
Common Stock 10,000.00 10,000.00 2%
Retained Earnings 379,542.64 497,542.64 63%
Total $ 600,000.00 $ 615,000.00 100%
2020 - % % Change

4% -29%
11% 8%
23% 22%
1% -20%
1% -13%

20% 0%
49% 0%
15% 39%
-23% 24%
100% 3%

7% -23%
2% 35%
9% -63%

2% 0%
81% 31%
100% 3%
 What SUP, Inc.
Ratio Analysis
Decwmber 2020

Profitability
Return on owners' investment 26%
Return on total investment 23%
Profit margin 9%
Gross margin 38%
Liquidity
Current ratio 4.76
Quick ratio 1.75
Receivable turnover 20.80
Inventory turnover 3.92
Solvency
Debt-to-equity 21%
Liability 17%