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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
New and pre-owned vehicles $ 191,505 $ 149,046 $ 358,693 $ 301,680
Other 22,456 19,500 46,122 39,923
Total revenues 213,961 168,546 404,815 341,603
Cost applicable to revenues (excluding depreciation and amortization shown below)        
New and pre-owned vehicles (including adjustments to the LIFO reserve of ($240), $359, ($49) and $606, respectively) 164,377 128,376 307,779 259,493
Other 5,631 4,692 11,610 9,685
Total cost applicable to revenue 170,008 133,068 319,389 269,178
Transaction costs 45 87 301 315
Depreciation and amortization 2,671 2,640 5,308 5,335
Stock-based compensation 340 1,112 1,020 2,626
Selling, general, and administrative expenses 28,269 25,151 59,385 51,603
Income from operations 12,628 6,488 19,412 12,546
Other income/expenses        
Loss on sale of property and equipment (6) (8) (2)
Interest expense (2,018) (2,531) (4,513) (5,558)
Total other expense (2,024) (2,531) (4,521) (5,560)
Income before income tax expense 10,604 3,957 14,891 6,986
Income tax expense (2,536) (2,099) (3,836) (3,284)
Net income 8,068 1,858 11,055 3,702
Dividends on Series A Convertible Preferred Stock (1,684) (1,525) (3,328) (2,709)
Net income attributable to common stock and participating securities $ 6,384 $ 333 $ 7,727 $ 993
EPS:        
Basic and diluted income per share $ 0.39 $ 0.02 $ 0.48 $ 0.06
Weighted average shares outstanding - basic and diluted 9,715,677 9,811,107 9,736,133 9,753,491