STATEMENT OF ASSETS, LIABILITIES AND STOCKHOLDER'S EQUITY
INCOME TAX BASIS
DECEMBER 31, 2019
ASSETS
CURRENT ASSETS Cash $ 395,096 Employee Loan Receivable 3,526 Prepaid Expenses 60,869
Total Current Assets 459,491
PROPERTY AND EQUIPMENT, AT COST
,I Leasehold Improvements 833,848
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Furniture, Fixtures & Toys 210,856 Vehicles 321,029 Equipment 259,482
Total 1,625,215 Less: Accumulated Depreciation (1,292,066)
Net Property and Equipment 333,149
OTHER ASSETS Refundable Deposits 6,847 Non-Compete Agreements 11,944 Goodwill 11,944
Total 30,735 Total Assets $ 823,375
SEE ACCOMPANYING ACCOUNTANT'S COMPILATION REPORT
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STATEMENT OF ASSETS, LIABILITIES AND STOCKHOLDER'S EQUITY
INCOME TAX BASIS
December 31, 2019
LIABILITIES AND STOCKHOLDER'S EQUITY
CURRENT LIABILITIES Employee Loan Payable
STOCKHOLDER'S EQUITY
Common Stock, $1 Par Value; Authorized 5,000 Shares, Issued and Outstanding 500 Shares
Retained Earnings-Income Tax Basis
Total Stockholder's Equity
Total Liabilities and Stockholders' Equity
$ 2,643 –�–
500 820,232
820,732
$ 823,375
SEE ACCOMPANYING ACCOUNTANT'S COMPILATION REPORT
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REVENUES
STATEMENT OF REVENUES, EXPENSES AND RETAINED EARNINGS-INCOME TAX BASIS
FOR THE YEAR ENDED December 31, 2019
D ay 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 BASIS
STOCKHOLDER DISTRIBUTIONS
RETAINED EARNINGS, END OF YEAR -INCOME TAX BASIS
$ 4,508,662
$
(3,778,117)
730,545
5,396
735,941
728,403
644,112)
820,232
SEE ACCOMPANYING ACCOUNTANT'S COMPILATION REPORT
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EXPENSES
STATEMENT OF REVENUES, E XPENSES AND RETAINED EARNINGS-INCOME TAX BASIS
FOR THE YEAR ENDED December 31, 2019
Accreditation Advertising Bank Charges Children's Activities Conferences Contract Services Depreciation Director's Fees Dues and Subscriptions Fire Safety Gifts Groceries Insurance Lawn Care Legal and Accounting Licenses Loss on Fixed Asset Disposals Maintenance and Repairs Meals Non-Compete Agreement and
Goodwill Amortization Office Expense Payroll Processing Pest Control Postage
Recruitment and Training Rent Salaries-Officers Salaries-Other Supplies Taxes-Other Taxes-Payroll Telephone Utilities Vehicle Expenses
Total Expenses
$ 3,560 2,084
12,341 32,560
1,520 9,036
104,749 30,000
724 8,048 7,246
321,563 237,835
41,355 52,211
3,046 18,965
125,684 1,230
6,667 57,121 10,825
9,081 90
1,904 109,872 308,264
1,841,202 82,372
3,869 169,612
19,805 93,445 50,231
$ 3,778,117
SEE ACCOMPANYING ACOUNTANT'S COMPILATION RE PORT