General form of registration statement for all companies including face-amount certificate companies

Statements of Earnings (Loss) And Retained Earnings

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Statements of Earnings (Loss) And Retained Earnings - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]            
SALES $ 10,947,724 $ 8,363,825 $ 27,075,116 $ 28,462,481 $ 37,752,173 $ 30,316,831
COST OF SALES:            
Purchases 6,362,217 5,813,427 16,435,550 18,460,993 24,167,798 19,395,199
Freight 860,813 385,262 2,478,457 1,284,732 2,099,511 1,961,441
Total Cost of Sales 7,223,030 6,198,689 18,914,007 19,745,725 26,267,309 21,356,640
GROSS PROFIT 3,724,694 2,165,136 8,161,109 8,716,756 11,484,864 8,960,191
OPERATING EXPENSES:            
Bad Debt Expense 11,926 32,000 93,971 47,899 67,899 140,292
General and Administrative Expenses 2,677,175 2,047,478 8,239,160 6,667,584 9,926,092 8,226,145
Total Operating Expenses 2,689,101 2,079,478 8,333,131 6,715,483 9,993,991 8,366,437
EARNINGS (LOSS) FROM OPERATIONS 1,035,593 85,658 (172,022) 2,001,273 1,490,873 593,754
OTHER INCOME AND (EXPENSE):            
Other Income 6,378 776,440 10,000 10,000 76,000
Interest Expense (26,260) (66,066) (41,619) (49,457) (109,117)
Interest Income         977
Total Other Income and Expenses (19,882) 710,374 (31,619) (39,457) (32,140)
EARNINGS (LOSS) BEFORE INCOME TAXES 1,015,711 85,658 538,352 1,969,654 1,451,416 561,614
INCOME TAXES:            
State         118,300 59,011
Federal         303,936 112,740
Current:            
State 88,725 76,338 118,300    
Federal 3,730 227,952 37,281 303,936    
Total Current 3,730 316,677 113,619 422,236    
Deferred:            
State 78,800 44,800    
Federal 209,313 115,038    
Total Deferred 288,113 159,838    
Total Income Taxes 291,843 316,677 273,457 422,236 422,236 171,751
NET EARNINGS (LOSS) 723,868 (231,019) 264,895 1,547,418 1,029,180 389,863
RETAINED EARNINGS, BEGINNING 1,168,681 2,376,911 1,627,654 598,474 598,474 208,611
RETAINED EARNINGS, ENDING $ 1,892,549 $ 2,145,892 $ 1,892,549 $ 2,145,892 $ 1,627,654 $ 598,474