Page 6 - 2021 Noteholder Letter.Financial Report

Green Mountain Firewood Company

Statement of Revenues and Expenses

January - December 2019

TOTAL
Income
41000 Sales of Product Income 54,305.28
41900 Discounts given -4,721.64
44000 Shipping Income 332.71
Total Income $49,916.35
Cost of Goods Sold
51000 Product 28,601.53
52000 Accessories 9,901.63
53000 Packaging 23,975.07
Total Cost of Goods Sold $62,478.23
GROSS PROFIT $ -12,561.88
Expenses
60400 Bank Charges & Fees 266.36
60500 DEPRECIATION 93,004.15
62000 Dues & subscriptions 4,559.25
62300 Insurance 2,802.00
63100 Meals & Entertainment 154.22
64500 COMPUTER SOFTWARE & APPLICATIONS 1,725.54
65000 Contractors 63,427.47
65700 Commissions 2,839.20
Total 65000 Contractors 66,266.67
67100 OFFICE EXPENSE 1,034.11
68200 Repairs & Maintenance -2,000.00
68300 Shipping, Freight & Delivery 11,455.57
68400 Job Supplies 893.22
68700 Telephone & Internet 3,045.28
68900 Travel 2,582.82
69900 Reimbursable Expenses 2,572.73
Advertising & Marketing 2,353.79
60140 Website 161.19
Total Advertising & Marketing 2,514.98
Legal & Professional Services 811.50
Taxes & Licenses
68610 STATE TAX 456.00
Total Taxes & Licenses 456.00
Total Expenses $192,144.40
NET OPERATING INCOME $ -204,706.28
Other Income
70000 Interest Earned 35.07
Total Other Income $35.07
Other Expenses
90000 Ask My Accountant 50.00
Total Other Expenses $50.00
NET OTHER INCOME $ -14.93
NET INCOME $ -204,721.21

These financial statements have not been subjected to an audit, review or compilation engagement
and no assurance is provided on them. Substanially all disclosures have been omitted.
Accrual Basis Tuesday, February 16, 2021 12:49 PM GMT-05:00 1/1