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Year ended 12/31 |
|
|
2002 |
2003 |
2004 |
2005 |
2006 |
|
Current Assets: |
|
|
Cash |
$ 12,351 |
$ 19,553 |
$ 42,862 |
$ 31,055 |
$ 21,908 |
|
A/R |
$ 17,459 |
$ 22,725 |
$ 46,826 |
$ 57,357 |
$ 68,606 |
|
Investments - CD |
$ - |
$ 20,000 |
$ 40,000 |
$ 20,000 |
$ 5,000 |
|
Inventory |
$ 83,457 |
$ 78,958 |
$
107,763 |
$ 67,915 |
$ 88,749 |
|
Prepaid Insurance |
$ 5,922 |
$ 6,355 |
$ 6,988 |
$ 7,419 |
$ 7,988 |
|
Total current Assets |
$
119,189 |
$ 147,591 |
$ 244,439 |
$ 183,746 |
$ 192,251 |
|
|
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Property: |
|
|
Equipment |
$ 36,599 |
$ 37,596 |
$ 37,596 |
$ 39,458 |
$ 44,187 |
|
Furniture & Fixtures |
$ 27,495 |
$ 27,495 |
$ 30,509 |
$ 30,509 |
$ 30,509 |
|
Buildings |
$ 157,976 |
$
157,976 |
$
157,976 |
$
157,976 |
$
157,976 |
|
Total Property, Plant & Equipment |
$
222,070 |
$ 223,067 |
$ 226,081 |
$ 227,943 |
$ 232,672 |
|
Less Accumulated Depreciation |
$ (18,580) |
$ (38,050) |
$ (64,216) |
$ (84,803) |
$(103,634) |
|
Net Property, Plant & Equipment |
$
203,490 |
$ 185,017 |
$ 161,865 |
$ 143,140 |
$ 129,038 |
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|
Total Assets |
$
322,679 |
$ 332,608 |
$ 406,304 |
$ 326,886 |
$ 321,289 |
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|
Current Liabilities |
|
|
Accounts Payable |
$ 12,897 |
$ 20,589 |
$ 22,477 |
$ 25,688 |
$ 27,195 |
|
Accrued Wages Payable |
$ 1,233 |
$ 2,241 |
$ 1,685 |
$ 1,957 |
$ 2,391 |
|
Short term portion of LT debt |
$ 18,426 |
$ 19,758 |
$ 21,186 |
$ 22,718 |
$ 24,360 |
|
Total Current Liabilities |
$
32,556 |
$
42,588 |
$
45,348 |
$
50,363 |
$
53,946 |
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Long-Term Liabilities |
|
|
Long-Term Note Payable |
$ 204,391 |
$
188,135 |
$
171,392 |
$
153,799 |
$
135,762 |
|
Total Long-term Liabilities |
$
204,391 |
$ 188,135 |
$ 171,392 |
$ 153,799 |
$ 135,762 |
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Total Liabilities |
$
236,947 |
$ 230,723 |
$ 216,740 |
$ 204,162 |
$ 189,708 |
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Equity |
|
|
John Dough, Equity |
$ 85,732 |
$
101,885 |
$
159,564 |
$
122,724 |
$
131,581 |
|
Total Equity |
$
85,732 |
$ 101,885 |
$ 159,564 |
$ 122,724 |
$ 131,581 |
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Total Liabilities & Equity |
$
322,679 |
$ 332,608 |
$ 376,304 |
$ 326,886 |
$ 321,289 |
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2002 |
2003 |
2004 |
2005 |
2006 |
|
Revenues: |
|
|
Sales |
$ 373,492 |
$
452,781 |
$
449,685 |
$
362,755 |
$
399,975 |
|
Less Returns & Allowances |
$ (2,895) |
$ (1,670) |
$ (8,477) |
$ (9,317) |
$ (11,179) |
|
Net Sales |
$
370,597 |
$ 451,111 |
$ 441,208 |
$ 353,438 |
$ 388,796 |
|
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|
Less Cost of Goods Sold |
$ 128,968 |
$
158,987 |
$
176,388 |
$
169,589 |
$
162,832 |
|
Gross Profit |
$
241,629 |
$ 292,124 |
$ 264,820 |
$ 183,849 |
$ 225,964 |
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Expenses: |
|
|
Advertising & Promotion |
$ 10,725 |
$ 4,343 |
$ 8,289 |
$ 6,131 |
$ 5,700 |
|
Bad Debt Expense (write offs) |
$ 399 |
$ 1,483 |
$ 125 |
$ 2,349 |
$ 1,300 |
|
Bank Charges |
$ 1,940 |
$ 2,177 |
$ 1,803 |
$ 1,799 |
$ 1,998 |
|
Depreciation |
$ 18,580 |
$ 19,470 |
$ 26,166 |
$ 20,587 |
$ 18,831 |
|
Insurance |
$ 3,948 |
$ 4,477 |
$ 4,695 |
$ 5,143 |
$ 5,637 |
|
Interest Expense |
$ 16,256 |
$ 16,743 |
$ 17,593 |
$ 18,037 |
$ 18,397 |
|
Legal & Professional |
$ 8,697 |
$ 6,602 |
$ 6,419 |
$ 8,627 |
$ 8,885 |
|
Miscellaneous |
$ 261 |
$ 426 |
$ 778 |
$ 1,875 |
$ 2,972 |
|
Office Supplies |
$ 4,265 |
$ 3,871 |
$ 4,825 |
$ 4,385 |
$ 4,000 |
|
Payroll Taxes |
$ 9,215 |
$ 10,982 |
$ 14,397 |
$ 15,183 |
$ 16,831 |
|
Repairs & Maintenance |
$ 5,042 |
$ 10,928 |
$ 11,472 |
$ 18,035 |
$ 15,849 |
|
Salaries & Wages |
$ 77,587 |
$ 79,915 |
$ 85,619 |
$ 90,590 |
$ 94,715 |
|
Telephone |
$ 1,840 |
$ 2,770 |
$ 2,812 |
$ 3,871 |
$ 3,700 |
|
Travel |
$ 1,982 |
$ 2,279 |
$ 1,806 |
$ 3,092 |
$ 3,240 |
|
Utilities |
$ 4,788 |
$ 5,819 |
$ 6,392 |
$ 11,471 |
$ 6,100 |
|
Total Expenses |
$
165,525 |
$ 172,285 |
$ 193,191 |
$ 211,175 |
$ 208,155 |
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Net Income (Loss) |
$
76,104 |
$ 119,839 |
$
71,629 |
$
(27,326) |
$
17,809 |
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