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NOTES ON QUARTERLY REPORT <br />FOURTH QUARTER ENDED DECEMBER 31, 1973 <br />BALANCE SHEET <br />INVENTORIES INCREASED V06040. OVER 4TH QUARTER, 1972. NET INCOME FOR <br />THE 4TH QUARTER IS UP 1h645. OVER 3RD QUARTER, 1973, ANI+ W,735- UP OVER <br />4TH QUARTER, 1972. <br />INCOME STATEMENT <br />TOTAL SALES INCREASED p1879614 FROM 1972. COST OF GOODS SOLD IS DOWN <br />313,952, WHILE OPERATING EXPENSE IS UP ONLY L839. SO WITH OUR NON- <br />OPERATING INCOME up :,.9,123., WE HAVE A NET INCOME INCREASE OF x116,900 <br />OVER 1972. <br />STORE ONE <br />NET SALES UP :x62,488. COST OF GOODS SOLD DOWN 010081. PROMOTIONAL <br />DISCOUNTS UP .;49191. OPERATING EXPENSE DOWN x5,217. NET INCOME UP ;;87,279. <br />STORE TWO <br />NET SALES UP ;x25,126. COST OF GOODS SOLD DOWN 63,572. PROMOTIONAL <br />DISCOUNTS UP 02,860. OPERATING EXPENSE UP x6,056. NET INCOME UP ;:29,621. <br />ON SALE <br />COMBINED SALES UP .032,221. INCOME UP ;.92,189. <br />STORE #�u21SALES UP 002,851. INCOME UP W72,213. <br /># <br />STORE SALES UP )'29,370. INCOME UP 0119,977. <br />OFF SALE <br />COMBINED SALES DOWN x,44,607. INCOME up 024,711. <br />STORE #1 SALES DOWN 40,364. INCOME UP �?15,067. <br />STORE #!2 SALES DOWN :4,244• INCOME UP x9,644• <br />