|
32
<br />CITY OF ST. ANTHONY, MINNESOTA
<br />MUNICIPAL LIQUOR FUND
<br />STATEMENT OF INCOME AND RETAINED EARNINGS
<br />YEARS ENDED DECEMBER 31, 1978 AND 1977
<br />Store #1
<br />Sales $1,354,623
<br />Cost of sales 770,271
<br />Gross profit $ 584,352
<br />Operating expenses 340,889
<br />Operating income $ 243,463
<br />Other income and
<br />expense
<br />Commissions $ 13,942
<br />Check cashing
<br />income 16,381
<br />Check cashing
<br />expense ( 1,742)
<br />Miscellaneous
<br />income 1,336
<br />Miscellaneous
<br />expense ( 1,133
<br />$ 28,784
<br />Net income $,_ 272.247
<br />Retained earnings
<br />Balance January 1
<br />Add: Net income
<br />Deduct:
<br />Prior period adjustments
<br />Transfer to General Fund
<br />Balance December 31
<br />1978
<br />Percent
<br />Store #2 Total of sales
<br />$929,918 $2,284,541 100.00
<br />609,142 1,379,413 60.38
<br />$320,776 $ 905,128 39.62
<br />207,935 548,824 24.02
<br />$112,841 $ 356,304 15.60
<br />$ 3,898 $ 17,840
<br />4,602 20,983
<br />1977
<br />.78 $ 15,219 .74
<br />.92 11,246 .55
<br />( 856)
<br />Percent
<br />Total
<br />of sales
<br />$2,062,428
<br />100.00
<br />1,256,670
<br />60.93
<br />$ 805,758
<br />39.07
<br />506,382
<br />24.55
<br />$ 299,376
<br />14.52
<br />.78 $ 15,219 .74
<br />.92 11,246 .55
<br />( 856)
<br />( 2,598)
<br />( .12)
<br />( 2,009)
<br />( .10)
<br />633
<br />1,969
<br />.09
<br />721
<br />.03
<br />( 692)
<br />( 1,825)
<br />( .08)
<br />( 1,212)
<br />.06)
<br />$ 7,585
<br />$ 36,369
<br />1.59
<br />$ 23,965
<br />1.16
<br />$120,426
<br />$ 392 673
<br />17.19
<br />$ 323.341
<br />15.68
<br />$ 614,809
<br />392,673
<br />( 275,000)
<br />$ 732,482
<br />See accompanying notes to financial statements.
<br />$ 568,957
<br />323,341
<br />( 2,489)
<br />( 275,000)
<br />$ 614 809
<br />
|