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Persons Services Corp <br />Statement of Income and Retained Earnings <br />December 31, 2023 <br />% of Revenue <br />Revenues earned 152,424,839 100.00% <br /> Direct costs 133,789,297 87.77% <br /> Gross profit 18,635,542 12.23% <br />Operating expenses <br /> General and administrative expenses 12,106,496 7.94% <br /> Amortization 3,000 <br /> Depreciation 1,432,712 0.94% <br /> Interest expense 830,805 0.55% <br /> Total operating expenses 14,373,013 9.43% <br />Income from operations 4,262,529 2.80% <br />Other income (expense) <br /> Investment income 13,437 0.01% <br /> Gain (loss) on sale of investments 36,729 0.02% <br /> Net unrealized gain (loss) on marketable securities 118,891 0.08% <br /> Gain (loss) on disposition of assets 1,811 0.00% <br /> Total other income (loss) 170,868 0.11% <br />Net income 4,433,397 2.91% <br />Retained Earnings Summary <br /> Beginning 1/1/23 11,554,314 <br /> Net Income 4,433,398 <br /> Distributions (1,515,937) <br />Ending Balance 12/31/23 14,471,775 <br />See Notes and Accompanying Independent Accountants Review Report <br /> 6