Profit & Loss Statement

Jan 1, 2008 – Aug 30, 2008

Ordinary Income/Expense
Income
GNT Revenue $1,935.00
Interest $23.95
NAOP Revenue $1,000.00
PV Regional Revenues $36,584.00
Regional Tournament Fees $6,687.80
Scorecard Revenues $21,495.40
STAC Receipts $11,960.00
Total Income $79,686.15
Expense
ACBL Labels $20.00
Awards $720.33
GNT Subsidy $3,000.00
Good Will $1,020.00
NAOP Expenses $262.48
Postage and Delivery $12.53
PV Regional Expenses $32,048.43
Scorecard Expenses
Postage $7,070.00
Printing $6,920.20
Salary $11,788.50
Total Scorecard Expenses $25,778.70
STAC Expenses $9,940.79
Web Hosting $288.30
Total Expense $73,091.56
Net Ordinary Income $6,594.59
Net Income $6,594.59

Balance Sheet

As of Aug 30, 2008

ASSETS
Checking/Savings
JP Morgan Chase $14,365.79
Money Market  $16,054.55
Scorecard Bank Account  $15,735.36
Total Checking/Savings  $46,155.70
Other Current Assets
Accounts Receivable - general   $365.00
Accounts Receivable - Scorecard    $6,612.10
Pre-paid Web Hosting $85.25
PV hotel deposit    $1,000.00
Total Other Current Assets    $8,062.35
Total Current Assets  $54,218.05
TOTAL ASSETS  $54,218.05
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
Accounts Payable - general  $9,082.00
Accounts Payable - Scorecard $20,801.25
Total Other Current Liabilities  $29,883.25
Total Current Liabilities  $29,883.25
Total Liabilities  $29,883.25
Equity
Opening Bal Equity  $14,892.77
Retained Earnings    $2,847.44
Net Income    $6,594.59
Total Equity  $24,334.80
TOTAL LIABILITIES & EQUITY  $54,218.05

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