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About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (Nov. 20, 1963)
ANNUAL CO-OP FINANCE REPORT BALANCE SHEET at June 30, 1963 ASSETS CURRENT ASSETS: Cash Receivables Inventory U. S. Treasury bond Prepayments FIXED ASSETS: Land, buildings, and equipment — Net Total assets — LIABILITIES AND CAPITAL CURRENT LIABILITIES: Accounts payable and accrued expenses CAPITAL: Earnings retained in business — 1920 through June 30, 1963 Total liabilities and capital — 70,649 19,724 200,391 1,000 2,966 294,730 174,451 $469,181 55,403 413,778 $469,181 STATEMENT OF INCOME AND RETAINED EARNINGS for the Year Ended June 30, 1963 SALES COSTS AND EXPENSES: Cost of merchandise sold 867,612 Salaries 99,131 Other operating expenses 64,894 State and Federal income taxes 34,236 Patronage refund to members 69,304 NET INCOME RETAINED IN BUSINESS RETAINED EARNINGS — At beginning of fiscal year 1,173,346 1.135.177 38,169 375,609 $ 413.778 RETAINED EARNINGS — June 30, 1963 •PKNCER n. COLUN9, C.P.A. •MUCK J. HimiNGCtl, C.P.A. LIONARD L. RAY, JR., C.P.A. CL8N P. PORTER, C.P.A. KINNITH P. KCLLOCO, C P A. WILLIAM M. ADDIRON, C.P.A. RONALD E. RLIND. C.P.A. COLLINS. HERZINGER. RAY & PORTER Certified Public Accountants 170 ELEVENTH AVENUE EABT Euoene. Oregon September 30, 1963 To the Board of Directors and Members University of Oregon Co-operative Store In our opinion, the accompanying statements present fairlv the financial position of UNIVERSITY OF OREGON CO-OPERATIVE STORE at June 30, 1963, and the results of its operations for the year, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Our examination of these statements was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. V" DISPOSITION OF SALES DOLLAR * 74£ Cost of ■erchandlse 8 \/2$ Salaries — 5 l/2£ Other operating expenses 3<p Incoae taxes* , 6£ Patronage refund Retained in business