In re Farmland Industries, Inc | Case No. 02-50557 | |||
MONTHLY OPERATING REPORT SUMMARY | ||||
FOR THE MONTH OF JULY, 2003 | ||||
REVENUE | ||||
Gross Income | $ 123,578,802.04 | |||
Less Cost of Goods Sold | $ 110,415,671.75 | |||
Materials | $ 110,399,163.66 | |||
Direct Labor | - | |||
Overhead (Freight and Other) | $ 16,508.09 | |||
Gross Profit | $ 13,163,130.29 | |||
OPERATING EXPENSES | ||||
Owner/Officer-Draws/Salaries | $ - | |||
Other Employee Salaries | $ 4,051,795.99 | |||
Advertising and Marketing | $ 10.86 | |||
Insurance | $ 923,194.24 | |||
Payroll Taxes | $ 286,558.12 | |||
Lease and Rent | $ 15,099.76 | |||
Telephone and Utlities | $ 3,270,370.15 | |||
Attorney and other Professional Fees | $ 3,478,467.71 | |||
UST Quarterly Fees | $ 10,000.00 | |||
Other Expenses (includes other income) | $ (1,975,255.42) | |||
Total Operating Expenses | $ 10,060,241.41 | |||
Net Income (Loss) | $ 3,102,888.88 | |||
CURRENT ASSETS | ||||
Accounts Receivable at end of month (Does not include Intercompany) | $ 42,231,376.21 | |||
Increase (Decrease) in AR for month | $ (2,673,190.23) | |||
Inventory at end of month | $ 122,553,675.80 | |||
Increase (Decrease) in Inventory for month | $ 4,188,245.42 | |||
Cash at end of the month | $ (2,743,652.80) | |||
Increase (Decrease) in Cash for month | $ (11,423,212.61) | |||
LIABILITIES | ||||
Increase (Decrease) in pre-petition debt | $ 2,109,451.93 | |||
Increase (Decrease) in post-petition debt | $ 2,108,187.34 | |||
Taxes Payable: | ||||
Federal Payroll Taxes | $ 69,461.52 | |||
State Payroll Taxes | $ 579.78 | |||
Local Payroll Taxes | $ - | |||
State Sales Taxes | $ 4,312.27 | |||
Real Estate and Personal | $ (731,859.66) | |||
Property Taxes (Real Property) | $ (1,092,469.79) | |||
Other (see footnote 1) | $ (1,693,485.08) | |||
Total Taxes Payable | $ (3,443,460.96) | |||
Footnote 1 | ||||
PRE-Fed MTR FUEL TAX-IC & SUBS (248001) | $ (5,663.77) | |||
PRE-ST MTR FUEL TAX PAY (248101) | $ (176,405.24) | |||
PRE-FED ENVIRON TAX PAY (249001) | $ - | |||
USE TAX PAYABLE-AUTOMATIC FROM TAX PACK | $ (1,113.60) | |||
USE TAX PAYABLE-AUTOMATIC FROM TAX PACK | $ (37.56) | |||
USE TAX PAYABLE-MANUAL ENTRIES | $ (859.56) | |||
FED HWY USE TAX PAY | $ - | |||
FED MTR FUEL TAX-EST LIAB | $ (1,515,325.36) | |||
ST MTR FUEL TAX PAY | $ 3,570.28 | |||
PRE-USE TAX PAY-MANUAL (245002&12) | $ 2,349.73 | |||
$ (1,693,485.08) | ||||
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Filed: 21 Aug 03, 12:00am