Income Statement

Overview
Financial Results
Income Statement
Balance Sheet
Cash Flow

v3.19.3.a.u2

Statements of Earnings (Unaudited) - USD ($)	3 Months Ended
Statements of Earnings (Unaudited) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 19,377,991	$ 20,089,150
Cost of sales	11,650,456	12,142,452
Gross profit	7,727,535	7,946,698
Operating expenses
Selling, general and administrative	7,326,620	6,775,875
Income from operations	400,915	1,170,823
Interest income	223,243	135,137
Income before income taxes	624,158	1,305,960
Income tax expense	123,000	296,000
Net income	$ 501,158	$ 1,009,960
Net income per share Basic (in dollars per share)	$ 0.04	$ 0.08
Net income per share Diluted (in dollars per share)	$ 0.04	$ 0.08
Weighted average shares outstanding:
Basic (in shares)	13,512,094	13,400,383
Diluted (in shares)	13,622,226	13,400,383

- Definition

The weighted average shares outstanding.

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The aggregate cost of goods produced and sold and services rendered during the reporting period.

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The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.

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Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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The net result for the period of deducting operating expenses from operating revenues.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.

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Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

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Published: January 29, 2020

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