Profit & Loss Statement 1st Quarter 2009

Jan - Aug 2009

Ordinary Income/Expense
Income
GNT Revenue  $2,956.77
Interest   $1.11
NAOP Revenue  $1,000.00
PV Regional Revenues  $39,091.36
Regional Tournament Fees  $6,273.85
Scorecard Revenues  $23,494.90
STAC Receipts $11,521.50
Total Income  $84,339.49
Expense
Awards  $738.50
Bank Service Charges $21.50
GNT Subsidy $4,000.00
Miscellaneous $20.00
NAOP Expenses  $246.00
PV Regional Expenses  $34,591.36
Scorecard Expenses
Postage  $7,630.66
Printing  $7,797.77
Salary  $11,103.95
Total Scorecard Expenses  $26,532.38
STAC Expenses  $9,869.40
Web Hosting  $175.15
Total Expense  $76,194.29
Net Ordinary Income  $8,145.20
Net Income  $8,145.20

Balance Sheet 08/28/09

Accrual Basis as of August 31, 2009

ASSETS
Checking/Savings
1.25% CD mat 1/13/10 $5,000.00
1.75% CD mat 7/13/10 $5,000.00
JP Morgan Chase $346.51
Money Market $8,573.69
Scorecard Bank Account $11,791.65
Total Checking/Savings  $30,711.85
Other Current Assets
Accounts Receivable - Scorecard  $6,857.00
Pre-paid Web Hosting  $32.45
PV hotel deposit  $1,000.00
Total Other Current Assets  $7,889.45
Total Current Assets  $38,601.30
TOTAL ASSETS  $38,601.30
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
Accounts Payable - Scorecard  $5,420.09
NABC Surcharge $772.00
Total Other Current Liabilities  $6,192.09
Total Current Liabilities  $6,192.09
Total Liabilities  $7,420.26
Equity
Opening Bal Equity  $14,892.77
Retained Earnings  $9,371.24
Net Income  $8,145.20
Total Equity  $32,409.21
TOTAL LIABILITIES & EQUITY  $38,601.30

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