S&S Air ,Inc.

% to
Income Statement 2021 2022
Sales

Amount Amount
Particulars
($ ) ($ )

Sales    37,038,492 100.00%    41,483,111.04

Cost of Goods Sold -27,629,530 -74.60% -30,945,073.60

Gross Profit      9,408,962 25.40% 10,538,037.44

Other Expenses     -4,696,692 -12.68%      -5,260,295.04

Depreciation     -1,659,882 -4.48%      -1,859,067.84

EBIT      3,052,388 8.24%       3,418,674.56

Interest Expense        -580,078        -580,078.00

Taxable Income      2,472,310       2,838,596.56

Taxes @25%        -618,078        -709,649.14

Net Income      1,854,232       2,128,947.42

Dividends        -5,65,000 -30.47%        -648,708.09

Addition to Retained
     1,289,232       1,480,239.33
Earnings

S&S Air ,Inc.

Balance Sheet 2021 % to Sales 2022

Amount Amount
Assets
($ ) ($ )
Cash       419,970 1.13%         470,366.40

Account Receivable       674,475 1.82%         755,412.00

Inventories       988,129 2.67%       1,106,704.48

   
Total Current Assets 5.62%     2,332,482.88
2,082,574

Net Fixed Assets 16,305,556 44.0233%    18,262,222.72

Total Assets 18,388,130 49.64600% 20,594,705.60

Liabilities and Owners Equity

Accounts Payable       854,685 2.31%         957,247.20

   
Notes Payable       1 951,642.00
1,951,642

   
Total Current Liabilities     2 908,889.20
2,806,327

   
Long-Term Debt       5,723,774.07
5,100,000

Common Stock       410,000         410,000.00

Retained Earnings 10,071,803    11,552,042.33

Total Liab. and Owners Equity 18,388,130 20,594,705.60