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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2021 111GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2021(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2021 202016. Revenue and income from operating activities $ $Advertising income 90,902 94,281Circulation income 13,034 15,068Printing and other income 777 1,285Total revenue 104,713 110,634Cost of sales (51,007) (51,060)Gross profit 53,706 59,574Administrative costs (34,854) (40,859)Distribution costs (15,979) (15,682)Other income (see below) 4,372 4,976Profit from operating activities 7,245 8,009Components of other income:Rental income 2,694 2,711Interest and investment income 698 725Loss on foreign exchange (60) (65)Other income 632 1,135Dividend income 75 59Unrealised gain on revaluation of investment securities 333 411 4,372 4,976Administrative and distribution costs included above:Salaries and wages 25,488 25,905Depreciation and amortisation (excl. right-to-use-assets) 3,893 4,296Depreciation on right-to-use-assets 2,911 3,302Directors%u2019 fees 1,062 1,112Depreciation expense charged to cost of sales for the year amounted to $7.2 million (2020: $7.9 million).Staff cost included in cost of sales amount to $25.5 million (2020: $29.4 million).