EFTA00607351.pdf

10:27 AM Sublime Art LLC 09/09/17 Profit and Loss Standard Accrual Basis January through December 2016 Jan - Dec '16 Ordinary Income/Expense Income Artwork Sales 24,350.00 Consulting 205,301.00 Shipping Income 300.00 Total Income 229,951.00 Cost of Goods Sold Purchased Artwork 21,150.00 Total COGS 21,150.00 Gross Profit 208,801.00 Expense Advertising and Promotion 4,500.00 Artist Royalty 0.00 Bank Service Charges 842.22 Books and Magazines 1,059.37 Charitable Contributions 5,125.00 Client Gifts Given 1,236.81 Computer and Internet Expenses Internet Connection 2,259.70 Software 1,793.06 Total Computer and Internet Expe... 4,052.76 Dues & Subscriptions 588.44 Framing -312.00 Owner Salary 150,000.00 Insurance Expense Auto Insurance 3,638.11 Renters 1,242.00 Workers Compensation 943.00 Total Insurance Expense 5,823.11 Interest Expense 1,004.34 Penalty Refund -3,352.18 Meals and Entertainment 22,504.98 Office Supplies 6,395.08 Payroll Processing Fees 652.95 Payroll Taxes Disability 134.54 FiCA 4,396.42 FUTA 149.52 Page 1 EFTA00607351 10:27 AM Sublime Art LLC 09/09/17 Profit and Loss Standard Accrual Basis January through December 2016 Jan - Dec '16 SUI 4,385.61 Total Payroll Taxes 9,066.09 Postage and Delivery 1,736.39 Production -4,089.14 Professional Fees Accounting & Bookkeeping 2,652.00 Photography 300.00 Total Professional Fees 2,952.00 Rent Expense 0.00 Repairs and Maintenance 756.18 Reproduction 172.50 Research & Development Museums & Exhibitions 142.74 Research & Development - Other 974.10 Total Research & Development 1,116.84 Salaries 57,957.42 Shipping 1,495.70 Storage 2,705.03 Telephone Expense 4,873.26 Travel Expense Airfare 10,802.65 Business Automobile 13,548.16 Gas 899.30 Lodging 227.48 Parking 8,430.61 Subway & Train 62.00 Taxi 16,743.66 Tolls 425.00 Travel Expense - Other 73.00 Total Travel Expense 51,211.86 Utilities 0.00 Total Expense 330,075.01 Net Ordinary Income -121,274.01 Net Income -121,274.01 Page 2 EFTA00607352