Mora Municipal Liquor Store Balance Sheet and Statement of Operations for year ended Dec. 31, 2021

The Mora Municipal Liquor Store Balance Sheet and Statement of Operations is published in accordance with the requirements of Minnesota Statute 471.6985. 

MORA MUNICIPAL LIQUOR STORE

Balance Sheet

For the Year Ended December 31, 2020

Assets

Cash & Investments $ 416,395

Accounts Receivable $ 32,580

Inventory $ 447,376

Fixed Assets Less Depreciation   $ 1,219,235

Deferred Outflows of Resources   $ 29,857

Total Assets $ 2,145,443

Liabilities and Retained Earnings

Accounts Payable $ 90,773

Long Term Debt & Noncurrent Liabilities  $ 1,082,606

Deferred Inflows of Resources  $ 9,315

Retained Earnings $ 962,749

Total Liabilites and Retained Earnings $ 2,145,443

MORA MUNICIPAL LIQUOR STORE

Statement of Operations

For the Year Ended December 31, 2020

Total Sales $ 4,438,807

Cost of Sales $ 3,259,400

Gross Profit  $1,179,407

Profit as a Percentage of Sales 26.57%

Operating Revenues $ -

Operating Expenses $ 553,295

Operating Income (Loss) $ 626,112

Contributions to General Fund  $ (298,488)

Contributions from General Fund  $ 2,949

Capital Outlay $ 6,550

Interest Paid $ 32,500

Debt Retired $ 100,000

Published in the Kanabec County Times March 25, 2021

 

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