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NOTES ON QUARTERLY REPORT <br />SECOND QUARTER ENDED JUNE 30, 1970 <br />BALANCE SHEET <br />ADDITIONAL $5,000 IN CHECK CASHING FUND FOR 4TH OF JULY BUSINESS. <br />INVENTORY UP $15,357. OTHER BALANCES NOT CHANGED SIGNIFICANTLY. <br />INCOME STATEMENT <br />TOTAL SALES INCREASE $53,263 (6.4%) ABOVE FIRST SIX MONTHS PREVIOUS <br />YEAR. COST OF GOODS SOLD BEFORE PROMOTIONAL DISCOUNT DOWN 1.58% AND <br />PROMOTIONAL DISCOUNT DOWN 1.03% RESULTING IN GROSS PROFIT ON MERCHAN- <br />DISE PERCENTAGE UP .55%. OPERATING EXPENSE UP 0.85% AND NET INCOME <br />OFF 0.32%. <br />STORE ONE <br />NET SALES UP $13,270. (2.7%) COST OF GOODS SOLD DOWN 1.6%. PROMO- <br />TIONAL DISCOUNT DOWN 0.96%. NET INCOME UP 0.100. <br />STORE TWO <br />NET SALES UP $39,993• (12•COST OF GOODS SOLD DOWN 1.6%. PROMO- <br />TIONAL DISCOUNT DOWN 1.13%. OPERATING EXPENSE UP 1.37%. NET INCOME <br />DOWN 0.94%. <br />ON SALE <br />COMBINED SALES DOWN $1,053. INCOME UP $2,161. <br />STORE #1 SALES DOWN $99983. INCOME OFF $1,628. <br />STORE #2 SALES UP $8,930. INCOME UP $3,790. <br />OFF SALE <br />COMBINED SALES UP $54,315• INCOME UP $2,811. <br />STORE #1 SALES UP $23,252. INCOME UP $4,550. <br />STORE #2 SALES UP $31,063. INCOME DOWN $1,739. <br />