4-48 - Prior Year (Audited) Balance REVENUE AND EXPENSE:...

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Prior Year Current Year Change (Audited) (Unaudited) Balance Common Balance Common Size Size Amount Sales (net) $9,000,000 100.00% $9,720,000 100.00% $720,000 8.00% Cost of goods sold $6,296,000 69.96% $7,000,000 72.02% $704,000 11.18% Gross margin $2,704,000 30.04% $2,720,000 27.98% $16,000 0.59% General expense $2,044,000 22.71% $2,003,000 20.61% $(41,000) -2.01% Depreciation $300,000 3.33% $334,000 3.44% $34,000 11.33% Operating income $360,000 4.00% $383,000 3.94% $23,000 6.39% Interest expense $60,000 0.67% $75,000 0.77% $15,000 25.00% Income taxes (40%) $120,000 1.33% $123,200 1.27% $3,200 2.67% Net income $180,000 2.00% $184,800 1.90% $4,800 2.67% ASSETS: Cash $600,000 14.78% $690,800 12.52% $90,800 15.13% Accounts receivable $500,000 12.32% $900,000 16.31% $400,000 80.00% $(40,000) -0.99% $(90,000) -1.63% $(50,000) 125.00% Inventory $1,500,000 36.95% $1,350,000 24.47% $(150,000) -10.00% $2,560,000 63.05% $2,850,800 51.67% $290,800 11.36% Fixed assets $3,000,000 73.89% $4,500,000 81.57% $1,500,000
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4-48 - Prior Year (Audited) Balance REVENUE AND EXPENSE:...

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