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<br />6 <br /> <br />Persons Services Corp. <br />STATEMENT OF INCOME AND RETAINED EARNINGS <br />For the Year Ended December 31, 2022 <br /> <br /> <br />Amount <br />Revenues earned 110,067,153$ 100.0% <br />Cost of revenues earned <br />Direct costs 93,699,251 85.1% <br />Indirect costs, including depreciation of <br />of $1.055.324 3,995,283 3.6% <br />Total costs of revenues 97,694,534 88.8% <br />Gross profit 12,372,619 11.2% <br />Operating expenses <br />General and administrative expenses 8,446,077 7.7% <br />Amortization 3,000 0.0% <br />Depreciation 54,564 0.0% <br />Interest expense 526,026 0.5% <br />Total operating expenses 9,029,667 8.2% <br />Income from operations 3,342,952 3.0% <br />Other income (expense) <br />Investment income 6,908 0.0% <br />Gain (loss) on sale of investments (4,652) 0.0% <br />Net unrealized gain (loss) on marketable securities (89,550) -0.1% <br />Gain (loss) on disposition of assets 61,087 0.1% <br />Total other income (expenses)(26,207) 0.0% <br />Net income 3,316,745$ 3.0% <br />Retained Earnings Summary Beginning 1/1/2022 7,781,231$ <br />Net Income 3,316,745 <br />Distributions (159,501) <br />Ending Balance 12/31/2022 10,938,475$ <br />% of <br />Revenues <br /> <br /> <br /> <br /> <br /> See Notes and Accompanying Independent Accountants Review Report.