Statement of Operations for the year ended January 31, 2007
For ease-of-use, our annual report has been broken down into the
following
THIS YEAR |
% |
LAST YEAR |
% |
|
| SALES | 106,976,289 |
100 |
93,750,864 |
100 |
| Cost of Goods Sold | 86,465,031 |
80.8 |
75,705,505 |
80.8 |
| Gross Margin | 20,511,258 |
19.2 |
18,045,359 |
19.2 |
| EXPENSES | ||||
| Operating and Administration | 18,246,593 |
17.0 |
15,823,070 |
16.9 |
| Interest Revenue (Note 9) | (495,154) |
(0.4) |
(314,561) |
(0.4) |
17,751,439 |
16.6 |
15,508,509 |
16.5 |
|
| SAVINGS FROM OPERATIONS | 2,759,819 |
2.6 |
2,536,850 |
2.7 |
| Patronage Refunds | 4,600,340 |
4.3 |
3,452,767 |
3.7 |
| SAVINGS BEFORE INCOME TAXES AND PATRONAGE REFUND TO MEMBERS (Note 2) | 7,360,159 |
6.9 |
5,989,617 |
6.4 |
| DISTRIBUTION OF SAVINGS | ||||
| Patronage Refund to Members | 4,002,636 |
3,003,561 |
||
| Provision for Income Taxes | ||||
| Current | 966,564 |
867,883 |
||
| Future | 90,361 |
- |
||
| Retained Savings | 2,300,598 |
2,118,173 |
||
7,360,159 |
5,989,617 |
