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LSee accompanying notes to financial statements.
<br />15
<br />CITY OF ST. ANTHONY, MINNESOTA
<br />(
<br />MUNICIPAL
<br />LIQUOR FUND
<br />STATEMENT OF INCOME
<br />AND RETAINED EARNINGS
<br />r
<br />I
<br />YEARS ENDED DECEMBER 31, 1974 AND 1973
<br />f
<br />1974
<br />Percent
<br />1973
<br />Store #1
<br />Store X62
<br />Total
<br />of sales Total
<br />Sales
<br />$1,150 031
<br />$ 904,967
<br />$2,054,998
<br />100.0
<br />$1,955,034
<br />Cost of sales
<br />698,847
<br />609,856
<br />1,308,703
<br />63.7
<br />1,243,947
<br />Gross profit
<br />$ 451,184
<br />$ 295,111
<br />$ 746,295
<br />36.3
<br />$ 711,087
<br />Operating expenses
<br />_ 267,977
<br />202,147
<br />470,124
<br />22_9
<br />_ 417,646
<br />Operating income
<br />6183,207
<br />$ 92,964
<br />$ 276,171
<br />13.4
<br />S 293,441
<br />Other income and expense
<br />Interest income
<br />$ 2,878
<br />$ 2,878
<br />$ 5,756
<br />.3
<br />$ 4,844
<br />Commissions
<br />7,069
<br />4,565
<br />11,634
<br />.6
<br />12,652
<br />Check cashing income
<br />7,802
<br />1,345
<br />9,147
<br />.5
<br />7,944
<br />Check cashing expense
<br />( 1,208)
<br />( 452)
<br />( 1,660)
<br />( .1)
<br />( 1,250)
<br />Miscellaneous income
<br />221
<br />159
<br />380
<br />3,444
<br />Miscellaneois expense
<br />( 3,672)
<br />( 295)
<br />( 3,967)
<br />( .2)
<br />6_ 999)
<br />13,090
<br />$ 8,200
<br />$ 21,293
<br />_1.1
<br />$ 26,635
<br />Net income
<br />^� 196.297
<br />S 101,164
<br />292,461
<br />14.5320,076
<br />Retained earnings
<br />Balance, Beginning of
<br />year
<br />$ 578,969
<br />$ 548,710
<br />Add net income
<br />297,461
<br />320,076
<br />Deduct transfer to General Fund
<br />(275,000)(289,817)
<br />Balance, End of year
<br />601,430
<br />S 5___.78.969
<br />LSee accompanying notes to financial statements.
<br />15
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