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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2019(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2019 201816. Revenue and income from operating activities $ $Advertising income 104,294 113,030Circulation income 12,510 10,995Printing and other income 3,538 4,231Total revenue 120,342 128,256Cost of sales (67,575) (73,871)Gross profit 52,767 54,385Administrative costs (43,808) (40,397)Distribution costs (18,473) (18,853)Other income (see below) 3,672 4,518Loss from operating activities (5,842) (347)Components of other income:Rental income 2,756 2,455Interest and investment income 663 743Loss on foreign exchange (59) (5)Other income 366 1,317Dividend income 186 192Unrealised loss on revaluation of investment securities (240) (184) 3,672 4,518Administrative and distribution costs included above:Salaries and wages 27,887 27,613Depreciation and amortisation (excl. right-to-use-assets) 4,330 4,714Depreciation on right-to-use-assets 3,792 %u2013Directors%u2019 fees 1,207 1,249Depreciation expense charged to cost of sales for the year amounted to $8.3 million (2018: $9 million).Staff cost included in cost of sales amount to $33.8 million (2018: $33.6 million).102 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2019