Income Statement for LivingArts Inc.

for the period ending December 31st 2019

2017 2018 2019

Revenue
Tattoos and Piercings $100,000.00 $120,000.00 $140,000.00
Sales of Traditional
Artwork & Special
Events $25,000.00 $30,000.00 $35,000.00
Total Revenue $125,000.00 $150,000.00 $175,000.00

Operating Expenses
Equipment $6,935.00 $0.00 $0.00
Inventory $7,500.00 $9,000.00 $10,500.00
Gallery and Event
Supplies $5,500.00 $6,600.00 $7,700.00
Art Production and
Printing $2,000.00 $2,400.00 $2,800.00
Website Maintenance $400.00 $400.00 $400.00
Business
Management
Software $70.00 $70.00 $70.00
Business License $70.00 $70.00 $70.00
Advertising $1,500.00 $1,500.00 $1,500.00
Insurance $2,000.00 $2,000.00 $2,000.00
Utilities and
Maintenance $5,000.00 $5,000.00 $5,000.00
Lease Payments $29,900.00 $29,900.00 $29,900.00
Salary $37,875.00 $55,560.00 $66,310.00
Total Expenses $98,750.00 $112,500.00 $126,250.00

Net Income $26,250.00 $37,500.00 $48,750.00