Page 28 - 2019 Pancake Supply Chain Co-op, Inc. Annual Report
P. 28
CENTRALIZED SUPPLY CHAIN SERVICES, LLC
STATEMENTS OF OPERATIONS
Years ended December 31, 2019 and 2018
2019 2018
Net revenues $ 14,575,942 $ 13,828,738
Operating expenses
Personnel costs 7,207,429 6,670,636
Fringe benefits 1,281,368 1,055,535
Other employee-related costs 170,493 157,721
Travel 282,035 309,448
Administrative 299,548 360,743
Professional fees 1,846,342 2,201,147
Office service costs 431,223 441,156
Total operating expenses 11,518,438 11,196,386
Net earnings $ 3,057,504 $ 2,632,352
See accompanying notes to financial statements.
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