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e <br />De La Hoz Builders, Inc. <br />Statement of Income and Retained Earnings <br />For the year ended December 31, 2020 <br />Contract revenues earned $ 4,673,754 <br />Cost of revenues earned 3,634,010 <br />Gross profit 1,039,744 <br />General and administrative expenses <br />Automotive expense <br />788 <br />Communications <br />8,423 <br />Depreciation <br />33,047 <br />Employee benefits and training <br />1,971 <br />Insurance <br />14,979 <br />Miscellaneous <br />19,309 <br />Office expense <br />13,623 <br />Office wages <br />159,545 <br />Professional fees <br />518,959 <br />Repair and maintenance <br />17,707 <br />Taxes and licenses <br />6,259 <br />Total general and administrative expenses <br />794,610 <br />Income from operations 245,134 <br />Other income (expenses) <br />Miscellaneous income 19,877 <br />Loan forgiveness proceeds 95,265 <br />Interest income 817 <br />Interest expense (2,469) <br />Total other income (expenses) 113,490 <br />Net income 358,624 <br />Retained earnings, beginning of year 770,242 <br />Retained earnings, end of year $ 1,Q29,438 <br />See accompanying notes and independent accountants' review report. <br />-3- <br />