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TLC Diversified, Inc.
<br />Statements of Income and Retained Earnings
<br />Years Ended December 31, 2020 and 2019
<br />Revenues earned
<br />Cost of earned revenues:
<br />Job costs
<br />Additional cost of earned revenues
<br />Total cost of earned revenues
<br />Gross profit
<br />General and administrative expenses:.
<br />Advertising
<br />Auto and truck expense
<br />Computer
<br />Depreciation
<br />Dues and subscriptions
<br />Equipment costs
<br />Estimating
<br />Insurance
<br />Office expense
<br />Other expense
<br />Payroll and payroll taxes
<br />Pro'j ssional fccs
<br />Profit-sharing contribution
<br />Rent
<br />Safety program
<br />Taxes and licenses
<br />Telephone and utilities
<br />Travel and entertainment
<br />Utilities
<br />Allocated costs to jobs
<br />Total general and administrative expenses:
<br />Operating `income
<br />Other income (expense)
<br />Equipment income
<br />Equipment expense
<br />Gain (loss) on disposal
<br />Interest income
<br />Interest expense
<br />Unusual item, forgiveness of PPP loan (see Note 11)
<br />Other income (expense)
<br />Total other income (expense)
<br />Net income
<br />Retained earnings as the beginning of the year
<br />Distributions for the year
<br />Retained earnings as of the end :of the year
<br />See accompanying notes and auditors report.
<br />2020 2019
<br />$ 43,630,498 $ 45,271,819
<br />35,443,269
<br />36,213,474
<br />552,256
<br />402,290.
<br />35,995,525
<br />36,615,764
<br />7,634,973
<br />8,656,055
<br />26,203
<br />61,714
<br />131,285
<br />117,779
<br />175,345
<br />137,364
<br />287,206
<br />241,175
<br />51,679
<br />50,145
<br />106,492
<br />112,770
<br />76,916
<br />38,512
<br />400,221
<br />331,699
<br />162,389
<br />74,206
<br />21,684
<br />61,353
<br />4,241,029
<br />4,130,460
<br />43,850
<br />42,140
<br />468,673
<br />418,000
<br />121,828
<br />108,827
<br />59,179
<br />88,884
<br />34,821
<br />37,302
<br />40,523
<br />74,501
<br />120,095
<br />90,126
<br />14,471
<br />12,636
<br />(518,017)
<br />(405,067)
<br />6,065,872
<br />5,824,520
<br />1,569,101
<br />2,831,535
<br />781,625
<br />619,655
<br />(237,543)
<br />(228,641)
<br />1,548
<br />(7,372)
<br />3,347
<br />40,311
<br />(11669)
<br />(678)
<br />1,015,096
<br />-
<br />(30,345)
<br />60
<br />1,532,059
<br />423,335
<br />3,101,160
<br />3,254,870
<br />9,510,701
<br />7,413,752
<br />(2,478,312)
<br />(1,217,921),
<br />$ 10,133,549 $
<br />9,510,701
<br />174
<br />4
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