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19
<br />CITY OF ST, ANTHONY, MINNESOTA
<br />MUNICIPAL LIQUOR FUND
<br />STATEMENT OF INCOME AND RETAINED EARNINGS
<br />YEARS ENDED DECEMBER 31, 1975 AND 1974
<br />Other income and expense
<br />1975
<br />Interest income
<br />Commissions
<br />Percent
<br />1974
<br />$ 15,116
<br />Store #1
<br />Store #2
<br />Total
<br />of sales
<br />Total
<br />Sales
<br />$1,127,121
<br />$ 902,246
<br />$2,029,367
<br />100.0
<br />$2,054,998
<br />Cost of sales
<br />667,426
<br />580,229
<br />1,247,655
<br />61.5
<br />1,308,703
<br />Gross profit
<br />$ 459,695
<br />$ 322,017
<br />$ 781,712
<br />38.5
<br />$ 746,295
<br />Operating expenses
<br />292,792
<br />218,727
<br />511,519
<br />25.2
<br />470,124
<br />Operating income
<br />$ 166,903
<br />$ 103,290
<br />$ 270,193
<br />13.3
<br />$ 276,171
<br />Other income and expense
<br />Interest income
<br />Commissions
<br />$ 10,508
<br />$ 4,608
<br />$ 15,116
<br />Check cashing income
<br />7,612
<br />1,574
<br />9,186
<br />Check cashing expense
<br />( 703)
<br />( 122)
<br />( 825)
<br />Settlement antitrust lawsuit 8,217
<br />7,990
<br />16,207
<br />Miscellaneous income
<br />380
<br />301
<br />681
<br />Miscellaneous expense
<br />( 590)
<br />( 542)
<br />( 1,132)
<br />$ 25,424
<br />$ 13,809
<br />$ 39,233
<br />Net income
<br />$ 192.327
<br />S 117.099
<br />309.426
<br />Retained earnings
<br />Balance, Beginning of year
<br />$ 601,430
<br />Add net income
<br />309,426
<br />Deduct transfer to General
<br />Fund
<br />( 300,000)
<br />Balance, End of year
<br />S 610.856
<br />See accompanying notes to financial statements.
<br />$ 5,756
<br />,8 11,634
<br />.5 9,147
<br />( ,1) ( 1,660)
<br />.8
<br />380
<br />( .1) (3,967)
<br />1.9 $ 21,290
<br />15.2 $ 297.463
<br />$ 578,969
<br />297,461
<br />( 275,000)
<br />$ 601 430
<br />
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