2019 Financial Statements

Statement of Financial Position
Year Ended June 30, 2019
 

Current Assets
Cash and Cash Equivalents	$16,000
Accounts Receivable (Net)	$308,000
Inventory at Cost	$191,000
Prepaid Expenses & Other Current Assets	$22,000
Total	$537,000
Other Assets
Denver Foundation Endowment Fund (Net)	$77,000
Other Assets	$11,000
Right-of-Use-Asset	$119,000
Total	$207,000
Total Assets	$744,000
Current Liabilities
Accounts Payable	$29,000
Accrued Vacation and Sick Pay	$43,000
Royalties and Commissions	$103,000
Unearned Income	$168,000
Lease Liability, Current Portion	$33,000
Line of Credit	-$0-
Total Current Liabilities	$376,000
Other—Lease Liability, Net of Current Portion	$88,000
Total Liabilities	$464,000
Net Assets—Without Donor Restrictions	$280,000
Total Liabilities and Net Assets	$744,000

Statement of Activities
Year Ended June 30, 2019
 

Revenues
Net Book Sales	$1,048,000
Other Publishing Income	$10,000
Member Dues	$263,000
Donations, Interest, and Other Income	$32,000
Total Revenues	$1,353,000
Cost of Sales
Cost of Books Sold	$192,000
Title Subsidies	($43,000)
Inventory Write-Off	$79,000
Royalties and Commissions	$99,000
Total Cost of Sales	$327,000
Gross Margin	$1,026,000
Expenses
Editorial Expense	$400,000
Production Expense	$117,000
Marketing Expense	$131,000
Fulfillment Expense	$167,000
General and Administrative Expense	$291,000
Total Expenses	$1,106,000
Total Increase (Decrease) in Net Assets	($80,000)
Net Assets, Beginning of Year	$360,000
Net Assets, End of Year	$280,000