04:16 PM I Connect, Inc.

10/04/21
Accrual Basis Profit & Loss
July 2021 through September 2021

Ordinary Income/Expense
Income
Sales 788,426.00
Total Sales 788,426.00
Total Income 788,426.00
Cost of Goods Sold
Cost of Sales 112,214.63
Total Cost of Sales 112,214.63
Total Cost of Goods Sold 112,214.63
Gross Profit 676,211.37

Expenses
Compensation of officers 77,324.16
Salaries & Wages 122,530.00
Repairs & Maintenance 3,182.34
Rents 8,870.75
Taxes & Licences 2,200.00
Interest 0.00
Advertising 11,718.42
Accounting Fee 2,670.10
Bank Service Charges 1,648.17
Insurance 484.81
Legal & Professional Charges 4,882.05
Payments to independent contractors 51,425.65
Postage & Courier 372.44
Dues & Subscriptions 249.90
Travel & Entertainment 5,778.34
Total Expenses 293,337.13
Net Ordinary Income 382,874.24
Net Income 382,874.24

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04:16 PM I Connect, Inc.
10/04/21
Accrual Basis Balance Sheet
As of September 30, 2021
September 30, 2021
ASSETS
Non-Current Assets
Motor Vehicles 75,405.00
Computers and related Equipment 101,400.00
Furniture and Fixtures 36,824.00
Electronic Equipment 81,500.00
Accumulated Depreciation -52,725.00
Total Non-Current Assets 242,404.00
Current Assets
Cash & Bank 288,850.00
Accounts Receivables 192,475.00
Inventory 42,800.00
Total Current Assets 524,125.00
TOTAL ASSETS 766,529.00

LIABILITIES & EQUITY

Liabilities

Current Liabilities
Accounts Payable 51,358.11
Income Tax Payable 52,775.00
Sales Tax Payable 15,130.00
Total Current Liabilities 119,263.11
Non-Current Liabilities
Non-Current Liabilities 0.00
Total Non-Current Liabilities 0.00
Total Liabilities 119,263.11
Equity
Retained Earnings 647,265.89
Total Equity 647,265.89
TOTAL LIABILITIES & EQUITY 766,529.00

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