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Consolidated Statement of Income - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2020
Income Statement [Abstract]          
REVENUES (all media, fees & licenses) $ 114,109 $ 209,132 $ 75,319 $ 90,541 $ 489,101
Net, Collected Revenues 11,609 148,632 14,919 3,769 178,929
Additional Invoiced Sales 102,500 60,500 86,772 249,772
Reserve for Potential Returns
ADJUSTED REVENUES FOR PERIOD 114,109 209,132 75,319 90,541 489,101
COST OF SALES          
Commissions
Sales and Marketing  
Video Mfg & Releasing Costs
Film & Book Royalties 1,236 1,236
Freight
Other Expenses (Ads, PR, Publicity)
TOTAL COST OF SALES 1,236 1,236
GROSS PROFIT 112,873 209,132 75,319 90,541 487,865
GENERAL AND ADMINISTRATIVE EXP. 36,131 8,922 9,848 40,642 95,543
INCOME FROM OPERATIONS 77,978 200,210 65,471 49,899 393,558
INTEREST EXPENSES 297,733 [1] 7,601 7,601 7,502 320,437
OTHER EXPENSES (SALARY DEFERRALS)
INCOME BEFORE TAXES (219,755) 192,609 57,870 42,397 73,121
PROVISION FOR INCOME TAXES
NET INCOME (219,755) 192,609 57,870 42,397 73,121
RETAINED EARNINGS (Beginning of Period) 4,101,335 3,908,726 [2] 3,906,597 3,864,200 3,864,200
RETAINED EARNINGS (End of Period) $ 3,281,033 $ 4,101,335 $ 3,908,726 [2] $ 3,906,597 $ 3,281,033
[1] Interest charged to Q4 includes ledger entry for $252,858 in interest previously not recognized with the Andersons P&A Notes, as well as an increase (correction) in the accrued interest due on DSM notes of $41,022. Both corrections in the recognition of interest are the result of charges incurred over seven or more years, and are not Q4 specific.
[2] Q2 Retained Earnings reduced Sept. 2020, due to payables corrections.