Profit & Loss Statement

Jan 1, 2008 – Dec 31, 2008

Ordinary Income/Expense
Income
GNT Revenue  $3,698.00
Interest  $50.33
NAOP Revenue  $1,000.00
PV Regional Revenues  $36,584.00
Regional Tournament Fees  $7,697.80
Scorecard Revenues  $32,723.40
STAC Receipts  $11,960.00
Total Income  $93,713.53
Expense
ACBL Labels  $20.00
Awards  $854.33
Bank Service Charges  $10.00
GNT Subsidy  $3,000.00
Good Will  $1,020.00
NAOP Expenses  $262.48
Postage and Delivery  $12.53
PV Regional Expenses  $32,008.43
Scorecard Expenses
Other $165.88
Postage  $10,852.23
Printing  $10,630.71
Salary  $17,038.85
Total Scorecard Expenses  $38,687.67
STAC Expenses  $9,940.79
Web Hosting  $367.50
Total Expense  $87,189.73
Net Ordinary Income  $6,523.80
Net Income  $6,523.80

Balance Sheet

As of Dec 31, 2008

ASSETS
Checking/Savings
JP Morgan Chase $6,116.34
Money Market  $9,072.58
Scorecard Bank Account  $8,900.26
Total Checking/Savings  $24,089.18
Other Current Assets
Accounts Receivable - Scorecard  $3,492.70
Pre-paid Web Hosting  $157.65
PV hotel deposit  $1,000.00
Total Other Current Assets  $4,650.35
Total Current Assets  $28,739.53
TOTAL ASSETS  $28,739.53
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
Accounts Payable - Scorecard  $4,475.52
Total Other Current Liabilities  $4,475.52
Total Current Liabilities  $4,475.52
Total Liabilities  $4,475.52
Equity
Opening Bal Equity  $14,892.77
Retained Earnings  $2,847.44
Net Income  $6,523.80
Total Equity  $24,264.01
TOTAL LIABILITIES & EQUITY  $28,739.53

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