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STATEMENT OF ASSETS, LIABILITIES AND STOCKHOLDER'S EQUITY
INCOME TAX BASIS
DECEMBER 31, 2020
ASSETS
CURRENT ASSETS Cash Employee Loan Receivable Prepaid Expenses Deposits
Total Current Assets
PROPERTY AND EQUIPMENT, AT COST Leasehold Improvements Furniture, Fixtures & Toys Vehicles Equipment
Total Less: Accumulated Depreciation
Net Property and Equipment
OTHER ASSETS
Refundable Deposits Non-Compete Agreements Goodwill
Total
Total Assets
$
$
223,566 2,883
57,477 5,000
288,926
865,507 199,801 321,251 253,108
1,639,667 (1,268,820)
370,847
6,847 8,611 8,611
24,069 683,842
SEE ACCOMPANYING ACCOUNTANT'S COMPILATION REPORT
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STATEMENT OF ASSETS, LIABILITIES AND STOCKHOLDER'S EQUITY
INCOME TAX BASIS
December 31, 2020
LIABILITIES AND STOCKHOLDER'S EQUITY
CURRENT LIABILITIES SBA Loan Payable Payroll Tax Liability Employee Loan Payable
STOCKHOLDER'S EQUITY
Common Stock, $1 Par Value; Authorized 5,000 Shares, Issued and Outstanding 500 Shares
Retained E arnings-Income Tax Basis
Total Stockholder's Equity
Total Liabilities and Stockholders• Equity
$
$
459,475 58,461
5,301 523,237
500 160,105
160,605
683,842
SEE ACCOMPANYING ACCOUNTANT 1 S COMPILATION REPORT
REVENUES
STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS-INCOME TAX BASIS
FOR THE YEAR ENDED December 31, 2020
Day Care Fees and Programs
EXPENSES (See Schedule)
EXCESS OF REVENUES OVER EXPENSES BEFORE OTHER INCOME
OTHER INCOME
Auto Reimbursements
EXCESS OF REVENUES OVER EXPENSES
RETAINED EARNINGS, BEGINNING OF YEAR -INCOME TAX B ASIS
STOCKHOLDER DISTRIBUTIONS
RETAINED EARNINGS, END OF YEAR -INCOME TAX B ASIS
$ 3,849,590
(3,188,019)
$
661,571
4,358
665,929
820,232
(1,326,056)
160,105
SEE ACCOMPANY ING ACCOUNTANT'S COMPILATION REPORT
EXPENSES
STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS-INCOME TAX BASIS FOR THE YEAR ENDED December 31, 2020
Accreditation Advertising Bank Charges Children's Activities Contract Services Depreciation Director's Fees Dues and Subscriptions Fire Safety Gifts Groceries Insurance Lawn Care Legal and Accounting Licenses and Taxes Maintenance and Repairs Meals Non-Compete Agreement and
Goodwill Amortization Office Expense Payroll Processing Pest Control Recruitment and Training Rent Salaries-Officers Salaries-Other Supplies Taxes-Payroll Telephone Utilities Vehicle Expenses
Total Expenses
$ 2,215. 937
7,660 19,605
5,353 46,087 30,000
268 8,118 3,850
243,078 230,801
23,015 18,284
4,458 147,154
793
6,667 68,425 11,986
6,675 1,020
109,872 279,389
1,592,512 44,811
140,189 17,347 86,740 30,710
$ 3,188,019
SEE ACCOMPANYING ACOUNTANT'S COMPILATION REPORT