Profit & Loss Statement

Jan 1, 2008 – Aug 30, 2008

Ordinary Income/Expense  
  Income  
    GNT Revenue $1,935.00
    Interest $23.95
    NAOP Revenue $1,000.00
    PV Regional Revenues $36,584.00
    Regional Tournament Fees $6,687.80
    Scorecard Revenues $21,495.40
    STAC Receipts $11,960.00
  Total Income $79,686.15
  Expense  
    ACBL Labels $20.00
    Awards $720.33
    GNT Subsidy $3,000.00
    Good Will $1,020.00
    NAOP Expenses $262.48
    Postage and Delivery $12.53
    PV Regional Expenses $32,048.43
    Scorecard Expenses  
      Postage $7,070.00
      Printing $6,920.20
      Salary $11,788.50
    Total Scorecard Expenses $25,778.70
    STAC Expenses $9,940.79
    Web Hosting $288.30
  Total Expense $73,091.56
Net Ordinary Income $6,594.59
Net Income $6,594.59

Balance Sheet

As of Aug 30, 2008

ASSETS  
    Checking/Savings  
      JP Morgan Chase $14,365.79
      Money Market  $16,054.55
      Scorecard Bank Account  $15,735.36
    Total Checking/Savings  $46,155.70
    Other Current Assets  
      Accounts Receivable - general   $365.00
      Accounts Receivable - Scorecard    $6,612.10
      Pre-paid Web Hosting $85.25
      PV hotel deposit    $1,000.00
    Total Other Current Assets    $8,062.35
  Total Current Assets  $54,218.05
TOTAL ASSETS  $54,218.05
LIABILITIES & EQUITY  
  Liabilities    
    Current Liabilities  
      Other Current Liabilities  
        Accounts Payable - general  $9,082.00
        Accounts Payable - Scorecard $20,801.25
      Total Other Current Liabilities  $29,883.25
    Total Current Liabilities  $29,883.25
  Total Liabilities  $29,883.25
  Equity      
    Opening Bal Equity  $14,892.77
    Retained Earnings    $2,847.44
    Net Income    $6,594.59
  Total Equity  $24,334.80
TOTAL LIABILITIES & EQUITY  $54,218.05