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

fl

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

_l

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

�

I I

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

I

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