Page 3 Exhibit 1 ELEGANCE JEWELLERS INC. STATEMENTS OF EARNINGS for years ending June 30 (000s)...
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Page 3 Exhibit 1 ELEGANCE JEWELLERS INC. STATEMENTS OF EARNINGS for years ending June 30 (000s) 9A84J002 Page 4 Exhibit 2 ELEGANCE JEWELLERS INC. BALANCE SHEETS as at June 30 (000s) 2012 2011 Sales Cost of sales $ 1.982.8 $ 1,721.5 945.6 774.0 Current assets: Cash Gross income $ 1,037.2 $ 947.5 Operating expenses: Selling and administrative $ 714.2 $ 584.1 Depreciation 53.7 44.6 Total operating expenses S 767.9 S 628.7 Earnings from operations $ 269.3 $ 318.8 Unusual income (loss) (11.7) (10.5) Subtotal $ 257.6 $ 308.3 Less: interest expense 152.1 34.8 Accounts receivable Inventory Prepaid expenses Total current assets Loans to employees Investment in subsidiary Other investments Fixed assets: Land 2012 2011 ASSETS $ 1.3 43.2 1,155.4 6.0 1.2 9.2 1,148.2 5.3 $ 1,205.9 $ 1,163.9 $ 25.7 $ 26.4 686.2 17.8 17.6 S 25.5 $ 25.5 Buildings 441.1 374.0 Net earnings before tax $ 105.5 $ 273.5 Furniture and fixtures 108.5 61.9 Income taxes 26.4 68.4 Fixed assets, cost $ 575.1 $ 461.4 Net earnings after tax' S 79.1 S 205.1 Less: accumulated depreciation 221.0 167.3 Total fixed assets (net) S 354.1 294.1 Total assets $ 2,289.7 $ 1,502.0 LIABILITIES AND EQUITY Liabilities Current liabilities: Working capital loan $ 10.4 $ 133.0 Accounts payable 223.7 379.8 Income taxes payable 2.5 123.7 Long-term debt due within one year 9.9 Total current liabilities $ 236.6 $ 646.4 Bank loan (due December 31, 2013) $ 418.4 $ Long-term notes payable 902.8 152.8 Total liabilities $ 1,557.8 S 799.2 Equity Common stock Retained earnings Total equity $ 110.0 621.9 $ 110.0 592.8 S 731.9 S 702.8 Total liabilities and equity $ 2.289.7 $ 1.502.0 1 Dividends paid for 2011 were $35,000, and $50,000 for 2012. 9A84J002 Page 3 Exhibit 1 ELEGANCE JEWELLERS INC. STATEMENTS OF EARNINGS for years ending June 30 (000s) 9A84J002 Page 4 Exhibit 2 ELEGANCE JEWELLERS INC. BALANCE SHEETS as at June 30 (000s) 2012 2011 Sales Cost of sales $ 1.982.8 $ 1,721.5 945.6 774.0 Current assets: Cash Gross income $ 1,037.2 $ 947.5 Operating expenses: Selling and administrative $ 714.2 $ 584.1 Depreciation 53.7 44.6 Total operating expenses S 767.9 S 628.7 Earnings from operations $ 269.3 $ 318.8 Unusual income (loss) (11.7) (10.5) Subtotal $ 257.6 $ 308.3 Less: interest expense 152.1 34.8 Accounts receivable Inventory Prepaid expenses Total current assets Loans to employees Investment in subsidiary Other investments Fixed assets: Land 2012 2011 ASSETS $ 1.3 43.2 1,155.4 6.0 1.2 9.2 1,148.2 5.3 $ 1,205.9 $ 1,163.9 $ 25.7 $ 26.4 686.2 17.8 17.6 S 25.5 $ 25.5 Buildings 441.1 374.0 Net earnings before tax $ 105.5 $ 273.5 Furniture and fixtures 108.5 61.9 Income taxes 26.4 68.4 Fixed assets, cost $ 575.1 $ 461.4 Net earnings after tax' S 79.1 S 205.1 Less: accumulated depreciation 221.0 167.3 Total fixed assets (net) S 354.1 294.1 Total assets $ 2,289.7 $ 1,502.0 LIABILITIES AND EQUITY Liabilities Current liabilities: Working capital loan $ 10.4 $ 133.0 Accounts payable 223.7 379.8 Income taxes payable 2.5 123.7 Long-term debt due within one year 9.9 Total current liabilities $ 236.6 $ 646.4 Bank loan (due December 31, 2013) $ 418.4 $ Long-term notes payable 902.8 152.8 Total liabilities $ 1,557.8 S 799.2 Equity Common stock Retained earnings Total equity $ 110.0 621.9 $ 110.0 592.8 S 731.9 S 702.8 Total liabilities and equity $ 2.289.7 $ 1.502.0 1 Dividends paid for 2011 were $35,000, and $50,000 for 2012. 9A84J002
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