4.IShorizontal

LAKESIDE COMPANY

INCOME STATEMENT

For Years Ended December 31, 1989 and 1990

IncreasePercentage

19891990(Decrease)Change

Sales5,172,000 5,778,000 606,000 11.72%

Sales Returns and Discounts(325,000)(401,000)76,00023.38%

Net Sales4,847,000 5,377,000 530,000 10.93%

Cost of Goods Sold(3,084,000)(3,435,000)351,00011.38%

Gross Profit1,763,000 1,942,000 179,000 10.15%

Salaries, Commissions, Bonuses(916,000)(1,021,000)105,00011.46%

Advertising and Selling Expenses(203,000)(216,000)13,0006.40%

Rent Expenses(114,000)(146,000)32,00028.07%

Depreciation Expenses(45,000)(46,000)1,0002.22%

Other General and Admin-

istrative Expenses(174,000)(195,000)21,00012.06%

Interest Expense(87,000)(114,000)27,00031.03%

Income Before Income Taxes224,000 204,000 (20,000)-8.93%

Income Taxes(89,000)(82,000)(7,000) -7.87%

Net Income135,000 122,000 (13,000)-9.63%

Retained Earnings, Beginning193,000 257,000 64,000 33.16%

Cash Dividends(71,000)(67,000)(4,000) -5.63%

Retained Earnings, Ending257,000 312,000 55,000 21.40%