IRHS Co	Julie's	Boulton Inc
												Sales Revenue	$ 1,627,500	$ 1,950,000	$ 1,687,500
												Sales Returns	8,100	12,900	36,450
												Net Sales	1,619,400	1,937,100	1,651,050
												Cost of Goods Sold	1,149,774	1,026,663	1,073,183
												Gross Profit	469,626	910,437	577,868
												Operating Expenses
												Advertising Expense	$ 33,610	$ 39,940	$ 34,830
												Car Expense	32,950	39,480	33,960
												Depreciation Expense - Furniture	8,330	14,000	14,100
												Depreciation Expense - Equipment	5,810	7,900	8,550
												Depreciation Expense - Truck	9,520	5,100	20,550
												Freight-out	18,665	21,710	18,665
												Insurance Expense	6,300	14,700	14,700
												Maintenance Expense	7,700	6,200	10,500
												Miscellaneous Expense	5,880	13,600	8,550
												Rent Expense	520	3,400	135,000
												Salaries Expense	1,290	7,900	14,250
												Utilities Expense	16,725	20,200	17,465
												Total Operating Expenses	147,300	194,130	331,120
												Operating Income	$ 322,326	$ 716,307	$ 246,748
												Interest Expense	9,555	31,518	89,738
												Loss on Sale of Assets	5,775	5,500	13,500
												Total Non-Operating Expenses	15,330	37,018	103,238
												Net Income	$ 306,996	$ 679,290	$ 143,510
													IRHS Co	Julie's	Boulton Inc	January 0, 1900	January 0, 1900
												Assets
												Current Assets
												Bank	$ 88,200	$ 84,000	$ 216,000
												Accounts Receivable	110,600	102,500	97,500
												Merchandise Inventory	232,400	422,000	601,500
												Supplies	7,350	9,000	10,500
												Prepaid Insurance	1,050	19,000	19,500
												Prepaid Rent	4,900	13,000	37,500
												Total Current Assets	444,500	649,500	982,500
												Fixed Assets
												Land	1,157,112	3,017,000	4,678,500
												Equipment	922,600	1,474,000	2,085,000
												Acc. Dep. - Equipment	(461,300)	(737,000)	(1,042,500)
												Delivery Truck	367,500	471,000	661,500
												Acc. Dep. - Truck	(147,000)	(188,400)	(264,600)
												Total Fixed Assets	1,838,912	4,036,600	6,117,900
												Total Assets	$ 2,283,412	$ 4,686,100	$ 7,100,400
												Liabilities and Owner's Equity
												Current Liabilities
												Accounts Payable	$ 133,000	$ 144,000	$ 150,000
												GST Payable	15,540	29,100	27,000
												GST Recoverable	(6,300)	(2,500)	(27,750)
												PST Payable	12,740	16,100	39,450
												Current Portion of Mortgage Payable	80,500	71,500	134,250
												Loan Payable	70,000	114,000	318,000
												Total Current Liabilities	305,480	372,200	640,950
												Long-Term Liabilities
												Mortgage Payable	805,000	715,000	1,342,500
												Total Liabilities	1,110,480	1,087,200	1,983,450
												J. Boulton, Capital
												Equity, Beginning of the Period	903,386	2,957,611	5,008,690
												Add: Net Income (Loss)	306,996	679,290	143,510
												Less: Drawings	37,450	38,000	35,250
												Equity, End of the Period	1,172,932	3,598,900	5,116,950
												Total Liabilities and Owner's Equity	$ 2,283,412	$ 4,686,100	$ 7,100,400
												Liquidity Ratios
												Working Capital ($)	$ 139,020	$ 277,300	$ 341,550
												Current Ratio	1.5	1.7	1.5	0.0	0.0
												Quick Ratio	0.7	0.5	0.5	0.0	0.0
												Inventory Turnover	5.3	3.1	2.1	0.0	0.0
												Inventory Turnover Period (days)	68	116	174	0	0
												Accounts Receivable Turnover	13.9	18.2	16.5	0.0	0.0
												Accounts Receivable Turnover Period (days)	26	20	22	0	0
												Operating Cycle (days)	94	136	196	0	0
												Borrowing Capacity Ratios
												Debt Ratio (%)	49%	23%	28%	0%	0%
												Equity Ratio (%)	51%	77%	72%	0%	0%
												Times Interest Earned	33.7	22.7	2.7
												Profitability Ratios
												Return on Net Sales (%)	19.0%	35.1%	8.7%
												Return on Equity (%)	29.6%	20.7%	2.8%
												Return on Assets (%)	14.9%	20.6%	4.2%