Profit & Loss Statement

Jan 1, 2008 – Dec 31, 2008

Ordinary Income/Expense  
  Income  
    GNT Revenue  $3,698.00
    Interest  $50.33
    NAOP Revenue  $1,000.00
    PV Regional Revenues  $36,584.00
    Regional Tournament Fees  $7,697.80
    Scorecard Revenues  $32,723.40
    STAC Receipts  $11,960.00
  Total Income  $93,713.53
  Expense  
    ACBL Labels  $20.00
    Awards  $854.33
    Bank Service Charges  $10.00
    GNT Subsidy  $3,000.00
    Good Will  $1,020.00
    NAOP Expenses  $262.48
    Postage and Delivery  $12.53
    PV Regional Expenses  $32,008.43
    Scorecard Expenses  
      Other $165.88
      Postage  $10,852.23
      Printing  $10,630.71
      Salary  $17,038.85
    Total Scorecard Expenses  $38,687.67
    STAC Expenses  $9,940.79
    Web Hosting  $367.50
  Total Expense  $87,189.73
Net Ordinary Income  $6,523.80
Net Income  $6,523.80

Balance Sheet

As of Dec 31, 2008

ASSETS  
    Checking/Savings  
      JP Morgan Chase $6,116.34
      Money Market  $9,072.58
      Scorecard Bank Account  $8,900.26
    Total Checking/Savings  $24,089.18
    Other Current Assets  
      Accounts Receivable - Scorecard  $3,492.70
      Pre-paid Web Hosting  $157.65
      PV hotel deposit  $1,000.00
    Total Other Current Assets  $4,650.35
  Total Current Assets  $28,739.53
TOTAL ASSETS  $28,739.53
LIABILITIES & EQUITY  
  Liabilities    
    Current Liabilities  
      Other Current Liabilities  
        Accounts Payable - Scorecard  $4,475.52
      Total Other Current Liabilities  $4,475.52
    Total Current Liabilities  $4,475.52
  Total Liabilities  $4,475.52
  Equity      
    Opening Bal Equity  $14,892.77
    Retained Earnings  $2,847.44
    Net Income  $6,523.80
  Total Equity  $24,264.01
TOTAL LIABILITIES & EQUITY  $28,739.53