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LAKESIDE COMPANY
INCOME STATEMENT
For Nine Months Ended September 30, 1990 and 1991
Increase Percentage
1990 1991 (Decrease) Change
Sales3,859,000 4,376,500 517,50013.41%
Sales Returns and Discounts(271,700)(420,200)148,50054.66%
Net Sales3,587,300 3,956,300 369,00010.29%
Cost of Goods Sold(2,262,800)(2,498,000)235,20011%
Gross Profit1,324,500 1,458,300 133,80010%
Operating Expense (19,800)(25,300)5,500
Salaries, Commissions, Bonuses(397,400)(422,300)24,9006.27%
Advertising and Selling Expenses(142,000)(146,600)4,6003.24%
Rent Expenses(116,900)(123,000)6,1005.22%
Depreciation Expenses(37,900)(38,200)3000.79%
Other General and Admin-
istrative Expenses(464,800)(534,000)69,20014.89%
Interest Expense(81,200)(89,100)7,9009.72%
Income Before Income Taxes64,500 79,800 15,30023.72%
Income Taxes(75,000)(92,000)17,00022.67%
Net Income After Taxes(10,500)(12,200)1,70016.19%
Gain on Disposition of
Fixed Asset0 14,000 14,000-
Net Income(10,500)1,800 12,300117.14%
Retained Earnings, Beginning257,000 312,000 55,00021.40%
Cash Dividends(48,700)(31,400)(17,300)-35.52%
Retained Earnings, Ending197,800 282,400 84,60042.77%
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