Income Statement

Here’s the financial performance of our company for the years 2018, 2019, and 2020. The table below outlines key figures such as sales, gross profit, operating expenses, and net income.

Year	Sales	Cost of Goods Sold	Gross Profit	Operating Expenses	Operating Profit	Net Interest	Profit Before Taxes	Taxes(40%)	Profit After Taxes	Dividends	Retained Earnings
2018	$30,000,000	$16,000,000	$4,000,000	$2,000,000	$2,000,000	$44,000	$1,956,000	$782,400	$1,173,600	$588,000	$590,500
2019	$32,000,000	$17,000,000	$5,000,000	$2,300,000	$2,700,000	$50,000	$2,650,000	$1,060,000	$1,590,000	$600,000	$990,000
2020	$35,000,000	$18,500,000	$6,000,000	$2,500,000	$3,500,000	$55,000	$3,445,000	$1,378,000	$2,067,000	$700,000	$1,367,000

Retained Earnings Growth (2018–2020)

This bar chart illustrates how retained earnings have increased over time, reflecting solid reinvestment strategies and strong post-tax profits.