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6/21/2022 <br />7 <br />Financial Results <br />Liquor Fund: <br />2021 operating income was $447,295 <br />$250,000 transferred to the General Fund <br />$405,000 increase in cash balance <br />13 <br />Sales $7,259,565 100.0% $7,015,974 100.0% <br />Cost of sales 5,431,563 74.8% 5,252,004 74.9% <br />Gross margin 1,828,002 25.2% 1,763,970 25.1% <br />Operating expenses 1,380,707 19.0% 1,380,231 19.7% <br />Income from operations 447,295 6.2% 383,739 5.5% <br />Investment income & other (2,440) 0.0%22,621 0.3% <br />Transfers out (250,000) -3.4% (250,000) -3.6% <br />Net income 194,855 2.7% 156,360 2.2% <br />2021 2020 <br />73