Assets:
Lifering, Inc currently has $16,497 in current assets, $9,247 of which is in cash and $936 in securities. There are books & publications held for sale or donation at a value of $5,754.
Liabilities:
Current payables as of December 31 were $830. Most of this amount is due to M. Nicolaus for expenses paid through his business during the year of 2000. It is comprised of shipping charges, postage and phone expense. All are included in the P&L statement.
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Lifering, Inc. has had a net income of $3,164 for the current fiscal year. Income from Sales of publications has been $4505.; Donations and Contributions have been $5567.
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A portion of the Income & Expense of Lifering, Inc. is attributed to the contribution activity between the Service Center and local LSR meeting groups. The groups donate a portion of their basket collections to the Service Center. In return, the SC provides brochures to the meetings and also those wishing to start meetings. Appropriate postage and telephone expense is also charged to Service Center accounts.
The P&L includes the amount of $3,009 of contributions to the Service Center for the year 2000. These monies are those actually received this year, however about $400 were actually collected in 1999, but held by the meeting treasurers.
Expenses shown on the Service Center P&L are all related to the current fiscal year.
-- Marjorie Jones, CFO, LifeRing Inc.