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NOTES ON QUARTERLY REPORT <br />YEAR OF 1969 AND (4TH QUARTER DETAIL) <br />BALANCE SHEET <br />CASH INCREASED $14,463 OVER YEAR AGO (813,902 OVER 3RD QUARTER). <br />MISCELLANEOUS RECEIVABLE INCLUDES $13,674 DUE FOR INSURANCE CLAIM <br />PENDING. MERCHANDISE INVENTORY $25,253 ABOVE DEC. 31, 1968 (DOWN <br />$17,779 — SEPT. 30, 1969). DUE TO CASH AND INVENTORY DEMANDS IN— <br />VESTMENT ACCOUNT TEMPORARILY REDUCED APPROXIMATELY $49,000 BOTH PERIODS. <br />INCOME STATEMENT <br />SALES INCREASE $170,606 (10.2%) ABOVE 1968. COST OF GOODS INCREASED <br />FROM 66.05% TO 67.66%. PROMOTIONAL DISCOUNT UP 3.69 TO 3.86% ($9,413) <br />AND OPERATING EXPENSE INCREASED $44,314 (0.620. NET INCOME DECREASE <br />$5,073 (1.6%). <br />STORE ONE <br />NET SALES UP $95,111• (9.5%) COST OF GOODS UP 65.03% TO 67.28%. <br />OPERATING EXPENSE UP 1.05%. NET INCOME OFF $13,208 (6.3%). <br />STORE TWO <br />NET SALES UP $75,495. (11.2%) COST OF GOODS UP 67.59OTo 68.22/q <br />OPERATING EXPENSE UP 0.02%. NET INCOME UP $6,135 (7.0%)• <br />ON SALE <br />COMBINED SALES UP $25,003. INCOME DOWN $13,937. <br />STORE #1 SALES UP $10,985. INCOME DOWN $16,729. <br />STORE #2 SALES UP $14:018. INCOME UP $2,792. <br />OFF SALE <br />COMBINED SALES UP $145,603. INCOME UP $8,864. <br />STORE #1 SALES UP $ 84,126. INCOME UP $3,521. <br />STORE #2 SALES UP $ 61,477. INCOME UP $5,343. <br />