Profit & Loss Statement 1st Quarter 2009

Jan - Mar 09

Ordinary Income/Expense
Income
GNT Revenue  $585.00
Interest  $0.42
NAOP Revenue  $1,000.00
PV Regional Revenues  $40,090.00
Regional Tournament Fees  $4,530.15
Scorecard Revenues  $5,483.00
Total Income  $51,688.57
Expense
Awards  $604.50
Miscellaneous $20.00
NAOP Expenses  $246.00
Postage and Delivery  $12.53
PV Regional Expenses  $33,631.36
Scorecard Expenses
Postage  $1,793.79
Printing  $1,893.47
Salary  $2,787.10
Total Scorecard Expenses  $6,474.36
STAC Expenses  $9,940.79
Web Hosting  $96.90
Total Expense  $41,073.12
Net Ordinary Income  $10,615.45
Net Income  $10,615.45

Balance Sheet 1st Quarter 2009

As of March 31, 2009

ASSETS
Checking/Savings
JP Morgan Chase $3,071.04
Money Market  $22,073.00
Scorecard Bank Account  $13,274.24
Total Checking/Savings  $38,418.28
Other Current Assets
Accounts Receivable - General $1,698.64
Accounts Receivable - Scorecard  $1,072.10
Pre-paid Web Hosting  $110.70
PV hotel deposit  $1,000.00
Total Other Current Assets  $3,881.44
Total Current Assets  $42,299.72
TOTAL ASSETS  $42,299.72
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
Accounts Payable - Scorecard  $7,420.26
Total Other Current Liabilities  $7,420.26
Total Current Liabilities  $7,420.26
Total Liabilities  $7,420.26
Equity
Opening Bal Equity  $14,892.77
Retained Earnings  $9,371.24
Net Income  $10,615.45
Total Equity  $34,879.46
TOTAL LIABILITIES & EQUITY  $42,299.72

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