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NOTES ON QUARTERLY REPORT <br />FOURTH QUARTER ENDED DECEMBER 31, 1972 <br />BALANCE SHEET <br />INVENTORIES INCREASED $3,728. FROM PREVIOUS QUARTER AND DECREASE 524,819. <br />FROM DECEMBER 31, 1971. NET INCOME FOR THE 4TH QUARTER WAS UP $31,262. <br />FROM THE 3RD QUARTER. <br />INCOME STATEMENT <br />TOTAL SALES DECREASED $51,696. FROM 1971 AND NET INCOME DECREASED $21,932• <br />PROMOTIONAL DISCOUNTS DECREASED ;$17,593. DUE TO A DECREASE IN PURCHASES OF <br />$125,183., DECREASING THE PROFIT FROM OPERATIONS BY $19,501. <br />STORE ONE <br />NET SALES DOWN $27,354. COST OF GOODS SOLD DOWN $34,824. PROMOTIONAL <br />DISCOUNTS DOWN $11,203. NET INCOME DOWN $13,046. <br />STORE TWO <br />NET SALES DOWN $24,341. COST OF GOODS SOLD DOWN 019,325 <br />DISCOUNTS DOWN $6,390. NET INCOME DOWN $8,886. <br />ON SALE <br />COMBINED SALES DOWN $7,532. INCOME DOWN $6,126. <br />STORE #1 SALES DOWN $6,554• INCOME DOWN $7,532. <br />STORE #2 SALES DOWN $978. INCOME UP $1,405. <br />OFF SALE <br />COMBINED SALES DOWN $44,164. INCOME DOWN $15,805. <br />STORE #1 SALES DOWN $20,801. INCOME DOWN $5,514• <br />STORE #2 SALES DOWN 523,363. INCOME DOWN 310,291. <br />EXPENSE STATEMENT <br />AS MENTIONED IN THE 3RD <br />UP ONLY $5,868. OVER 4TH <br />FOR 3RD QUARTER. <br />PROMOTIONAL <br />QUARTER NOTES, 4TH QUARTER SALARIES AND WAGES ARE <br />QUARTER 1971, AS COMPARED TO $19,042 UP OVER 1971 <br />