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CITY OF ST. ANTHONY
<br />LIQUOR FUND
<br />STATEMENT OF INCOME AND CHANGES IN RETAINED EARNINGS
<br />YEARS ENDED DECEMBER 31, 1981 AND 1980
<br />SCHEDULE 21
<br />-35-
<br />1981
<br />1980
<br />Percent
<br />Percent
<br />Store #1
<br />Store #2
<br />Total
<br />of Sales
<br />Total
<br />of Sales
<br />Sales
<br />$1,524,297
<br />$1,163,108
<br />$2,687,405
<br />100.00%
<br />$2,600,925
<br />100.00%
<br />Cost of Sales
<br />891,266
<br />741,934
<br />1,633,200
<br />60.77
<br />1,588,589
<br />61.08
<br />Gross Profit
<br />633,031
<br />421,174
<br />1,054,205
<br />39.23
<br />1,012,336
<br />38.92
<br />Operating Expenses
<br />396,346
<br />258,372
<br />654,718
<br />24.36
<br />639,645
<br />24.59
<br />Operating Income
<br />236,685
<br />162,802
<br />399,487
<br />14.87
<br />372,691
<br />14.33
<br />Other Income
<br />Commissions
<br />21,433
<br />4,968
<br />26,401
<br />.98
<br />21,016
<br />.81
<br />Check Cashing
<br />15,499
<br />3,735
<br />19,234
<br />.71
<br />22,983
<br />.88
<br />Interest Earned
<br />16,498
<br />16,498
<br />32,996
<br />1.23
<br />11,966
<br />.46
<br />Miscellaneous
<br />327
<br />379
<br />706
<br />.03
<br />1,083
<br />.04
<br />Total Other Income
<br />53,757
<br />25,580
<br />79,337
<br />2.95
<br />57,048
<br />2.19
<br />290,442
<br />188,382
<br />478,824
<br />17.82
<br />429,739
<br />16.52
<br />Other Expense
<br />Miscellaneous
<br />251
<br />723
<br />974
<br />.04
<br />1,830
<br />.07
<br />Net Income
<br />$ 290,191
<br />$ 187,659
<br />477,850
<br />17.78%
<br />427,909
<br />16.45%
<br />Retained Earnings at Beginning of Year
<br />965,288
<br />862,379
<br />Transfer to General Fund
<br />(375,000)
<br />(325,000)
<br />Retained Earnings at End of Year
<br />$1;068,138
<br />$ 965,288
<br />-35-
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