Summary of Profit and Loss Information Related to Equity Accounted Investment

Summarized profit and loss information related to the equity accounted investment is as follows for the full year:

	2020

Net sales	$	295,800
Net income	$	2,996

A summary of the Company’s investment follows:

Balance, December 31, 2019	$	63,165
Investment eliminated upon consolidation		(63,165	)
Balance, December 31, 2020 and March 31, 2021	$	-

Schedule of Fair Values of Assets Acquired and Liabilities Assumption

The following table summarizes the final purchase price allocation of the consideration paid to the respective fair values of the assets acquired and liabilities assumed in ENP Realty as of the acquisition date.

Investment eliminated upon consolidation	$	63,165

Assets acquired:
Cash		13,419
Building		630,000
Land		85,000
Liabilities assumed:
Accounts payable		(15,797	)
Long term debt		(450,000	)
Deferred income tax liability		(66,116	)
Total identifiable net assets:		196,506
Gain on acquisition of ENP Realty	$	133,341

Schedule of Equity Method Investment

Summarized profit and loss information related to the equity accounted investment is as follows:

	Three months ended March 31, 2021		Three months ended March 31, 2020

Net sales	$	2,332,304	$	2,791,754
Gross profit		860,676		945,395
Net income		400,580		280,364