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PROSHOT CONCRETE, INC. AND SUBSIDIARIES
<br />CONSOLIDATED STATEMENTS OF INCOME
<br />FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
<br />CONTRACT REVENUE EARNED
<br />COST OF CONTRACT REVENUE EARNED
<br />GROSS PROFIT
<br />OPERATING EXPENSES
<br />Advertising
<br />Auto and truck expense
<br />Depreciation
<br />Employee benefits
<br />Insurance
<br />Meals and entertainment
<br />Office expenses
<br />Payroll and related expenses
<br />Equipment rental
<br />Professional fees
<br />Repairs and maintenance
<br />Taxes, licenses, and permits
<br />Telephone and utilities
<br />Travel
<br />Provision for losses on contracts -in -progress
<br />Workers compensation
<br />Gain on sale of property and equipment
<br />Other operating expenses
<br />Total operating expenses
<br />INCOME FROM OPERATIONS
<br />OTHER INCOME (EXPENSE)
<br />Rental income
<br />Other income
<br />Interest income
<br />Interest expense
<br />Total other income (expense)
<br />NET INCOME
<br />2019
<br />$ 19,117,432
<br />15,721,723
<br />2018
<br />$ 20,434,225
<br />16,890,796
<br />3,395,709 3,543,429
<br />64,878
<br />51,192
<br />11,903
<br />298,096
<br />476,967
<br />50,535
<br />161,243
<br />890,589
<br />20,143
<br />84,468
<br />4,550
<br />87,797
<br />102,233
<br />113,507
<br />144,691
<br />44,941
<br />(99,444)
<br />239,707
<br />11,456
<br />52,771
<br />11,555
<br />272,861
<br />514,210
<br />71,533
<br />154,853
<br />802,567
<br />19,517
<br />105,698
<br />14,450
<br />105,783
<br />102,639
<br />88,307
<br />43,287
<br />(8,360)
<br />182,889
<br />2,747,996 2,546,016
<br />647,713
<br />65,494
<br />172,168
<br />44,457
<br />(82,764)
<br />199,355
<br />$ 847,068
<br />See notes to the consolidated financial statements.
<br />5
<br />997,413
<br />56,207
<br />157,387
<br />22,508
<br />(69,634)
<br />166,468
<br />$ 1,163,881
<br />
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