02:24 PM I Connect, Inc.

07/26/21
Accrual Basis Profit & Loss
April 2021 through June 2021

Ordinary Income/Expense
Income
Sales 684,712.00
Total Sales 684,712.00
Total Income 684,712.00
Cost of Goods Sold
Cost of Sales 97,354.48
Total Cost of Sales 97,354.48
Total Cost of Goods Sold 97,354.48
Gross Profit 587,357.52

Expenses
Compensation of officers 68,453.65
Salaries & Wages 108,345.00
Repairs & Maintenance 2,627.40
Rents 8,870.75
Taxes & Licences 1,950.00
Interest 0.00
Advertising 8,823.56
Accounting Fee 2,254.30
Bank Service Charges 1,582.61
Insurance 484.81
Legal & Professional Charges 3,664.28
Payments to independent contractors 38,626.35
Postage & Courier 295.14
Dues & Subscriptions 249.90
Travel & Entertainment 3,832.16
Total Expenses 250,059.91
Net Ordinary Income 337,297.61
Net Income 337,297.61

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02:18 PM I Connect, Inc.
07/26/21
Accrual Basis Balance Sheet
As of June 30, 2021
June 30, 2021
ASSETS
Non-Current Assets
Motor Vehicles 75,405.00
Computers and related Equipment 97,250.00
Furniture and Fixtures 36,824.00
Electronic Equipment 73,650.00
Accumulated Depreciation -46,434.00
Total Non-Current Assets 236,695.00
Current Assets
Cash & Bank 247,226.00
Accounts Receivables 178,675.00
Inventory 34,415.00
Total Current Assets 460,316.00
TOTAL ASSETS 697,011.00

LIABILITIES & EQUITY

Liabilities

Current Liabilities
Accounts Payable 48,643.18
Income Tax Payable 47,225.00
Sales Tax Payable 13,794.00
Total Current Liabilities 109,662.18
Non-Current Liabilities
Non-Current Liabilities 0.00
Total Non-Current Liabilities 0.00
Total Liabilities 109,662.18
Equity
Retained Earnings 587,348.82
Total Equity 587,348.82
TOTAL LIABILITIES & EQUITY 697,011.00

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