2014 Financial Statements
Statement of Financial Position
Year Ended June 30, 2014
| Current Assets |
|
| Cash and Cash Equivalents |
$52,242 |
| Accounts Receivable (Net) |
$290,939 |
| Inventory at Cost |
$382,062 |
| Prepaid Expenses |
$37,211 |
| Total |
$762,454 |
| |
|
| Other Assets |
$42,341 |
| |
|
| Total Assets |
$804,795 |
| |
|
| Current Liabilities |
|
| Accounts Payable |
$22,281 |
| Accrued Vacation and Sick Pay |
$38,251 |
| Royalties and Comissions |
$103,411 |
| Unearned Income |
$130,827 |
| Line of Credit |
-$0- |
| Total Current Liabilities |
$294,770 |
| |
|
| Net Assets—Unrestricted |
$510,025 |
| |
|
| Total Liabilities and Net Assets |
$804,795 |
Statement of Activities
Year Ended June 30, 2014
| Revenues |
|
| Net Book Sales |
$989,734 |
| Other Publishing Income |
$39,362 |
| Member Dues |
$219,400 |
| Donation, Interest, and Other Income |
$1,370 |
| Total Revenues |
$1,249,866 |
| |
|
| Cost of Sales |
|
| Cost of Books Sold |
$204,324 |
| Title Subsidies |
($36,500) |
| Inventory Write-Off |
$39,004 |
| Royalties and Commissions |
$133,971 |
| Total Cost of Sales |
$340,799 |
| |
|
| Gross Margin |
$909,067 |
| |
|
| Expenses |
|
| Editorial Expense |
$290,235 |
| Production Expense |
$88,715 |
| Marketing Expense |
$117,343 |
| Fulfillment Expense |
$154,570 |
| General and Administrative |
$263,500 |
| Total Expenses |
$914,363 |
| |
|
| Total Increase (Decrease) in Net Assets |
($5,296) |
