Then using their Royalty Statement, fill in the 2022 column of the Report Card. Upload as an Excel document and in a separate Word document, answers to the questions.

1. Did they make their Guaranteed Minimum Sales?
2. Did they earn their Guaranteed Minimum Royalty?
3. You will note they pay 1/4 their GMR each Quarter. What do you see they need to do regarding their GMR?
4. Did they contribute (pay you, the licensor) the required amount to the National Advertising campaign?
5. Did they use their Advertising & Marketing Minimum Spend in full?

A B C D E G 44 Ended Tota CONTRACT YEAR 2 3/31/2022 6/30/2022 9/30/2022 12/31/2022 Year 2022 9 FULL PRICE SALES 10 Gross Full Price Sales Subject to Royalty $ 324,555 $ 436,774 | $ 75,509 $ 1,339,876 $ 2,176,714 11 Less 12 Returns, Allowances, Trade Discounts, Payment Term Discounts |$ 3,643 | 5 6,870 1 5 2,843 5 37,321 5 50,677 13 14 Net Full Price Sales Subject to Royalty S 320,912 | $ 429,904 | $ 72,666 $ 1,302,555 $ 2,126,037 15 16 Full Price Royalty Percentage 7.09% 7.0%% 7.0%% 7.0% 7.0% 17 Sales Royalty Earned $ 22,464 $ 30,093 | $ 5,087 $ 91,179 $ 148,823 18 19 Gross Full Price International Sales Subject to Royalty 20,043 $ 22,308 i $ 44,597 $ 705,332 $ 792,280 20 Less 21 Returns, Allowances, Trade Discounts, Payment Term Discounts| $ 551 5 -15 254 5 305 22 23 Net Full-Price International Sales Subject to Royalty 19,492 $ 22,308 1 $ 44,597 $ 705,078 $ 791,475 24 25 Royalty Percentage 7.036 7.09% 7.0% 7.09 26 27 Sales Royalty Earned $ 1,364 $ 1,562 i $ 3,122 $ 49,355 |$ 55,403 28 29 Gross Full Price Sales to Vouis Luitton S 100 5 200 | $ 120 5 150 $ 70 30 31 Royalty Percentage ON 096 32 33 Sales Royalty Earned SO SO SO 50 SO 34 35 OFF-PRICE SALES 36 Gross Off Price Sales Subject to Royalty $ 171,670 $ 104,221 $ 344,689 $ 725,776 $ 1,346,356 37 Less 38 Returns, Allowances, Trade Discounts, Payment Term Discounts | $ -S IS 39 40 Net Off Price Sales Subject to Royalty $ 171,670 $ 104,221 $ 344,689 $ 725,776 $ 1,346,356 41 42 Off-Price Royalty Percentage 3.5%% 3.59% 3.5% 3.5% 3.5% Royalty Statement +4 YEAR Z, ZUZZ 5 YEAR 1 YEAR 2 6 2021 2022 7 SALES 8 Gross Sales 9 Full Price Gross Sales 150,054 10 Off-Price Gross Sales 754 11 Total Gross Sales $ 150,808 12 Net Sales 13 Full-Price Net Sales $ 143,000 14 Off-Price Net Sales 754 15 Total Net Sales $ 143,754 16 17 ROYALTY 18 Royalty Rate - FP 7% 19 Full Price Royalty Earned $ 10,010 20 Royalty Rate - OP 3.5% 21 Off-Price Royalty Earned $ 26.39 22 Total Royalty Earned $10,036 23 GMR $0 24