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Chester, Inc. Balance Sheet As on December 31, 2015 2014 2013 Assets Current assets:

/in /by
Chester, Inc.
Income Statement
For the Year Ending December 31,
 201520142013
Revenue:   
Sales288,876,206 271,839,067 307,716,148
Less: Sales Return23,110,096 12,432,247 5,621,979
Net sales         265,766,110          259,406,820          302,094,169
Less: Cost of Goods Sold          179,103,248          161,029,981          176,961,437
Gross Profit           86,662,862            98,376,839          125,132,732
Less: Expenses   
Administrative Wages Expense           19,706,506            18,344,399            21,094,132
Advertising Expense              1,058,391               1,161,276               1,121,425
Auto Expenses                 214,001                  235,763                  261,218
Bad Debt Expense           13,900,800               5,875,403               2,028,032
Bonus Expense                 459,000                  504,000                              –  
Depreciation Expense                 617,155                  581,102                  166,250
Freight              4,325,068               4,749,095               5,378,689
Insurance Expense                 951,774               1,045,085               1,067,428
Legal and Professional Expense              8,987,069            11,037,039               4,506,417
Maintenance Expense                    87,641                     96,020                     76,420
Miscellaneous Office Expense                    25,390                     27,803                     21,279
Payroll Tax Expense              1,609,342               1,767,149               1,938,736
Pension/Profit-Sharing Plan Ex              3,366,000               3,696,000               3,750,000
Phone                    53,651                     57,911                     95,467
Postal                    79,360                     87,140                  160,042
Property Tax Expense                 101,319                  110,252                  100,619
Rent or Lease Expense              2,230,615               1,370,273               3,254,357
Research and Development              3,080,313                  532,425            38,639,554
Utilities                 155,600                  170,765                  169,554
Warehouse Salaries              5,270,689               5,848,120               5,791,730
Warranty Expense              1,422,381               1,297,104               1,375,352
Total Expenses           67,702,065            58,594,124            90,996,701
Net Operating Income           18,960,797            39,782,715            34,136,031
Add: Other Income   
Income from Investments                 678,112                  573,158                  600,791
Interest Income                 142,168                  147,707                  255,379
Less: Other Expenses   
Interest Expense              2,942,147               3,373,056               1,093,750
Loss on Legal Settlement                             –                                –              23,965,000
Net Income Before Income Tax           16,838,930            37,130,524               9,933,451
Less: Income Tax Expenses   
Income Tax Expense – Federal              7,269,540            14,142,240               2,956,250
Income Tax Expense – State              1,258,000               2,503,200                  536,250
Net Income              8,311,390            20,485,084               6,440,951
Earnings Per Share $                     1.00  $                     2.48  $                 0.78
Chester, Inc.
Balance Sheet 
As on December 31, 
 201520142013
Assets   
Current assets:   
Cash on Hand                      2,511                       2,459                        2,483
Checking Account – Operating                 243,892                  252,858                   247,646
MMKT Accounts              1,205,563                  983,161                   806,288
Accounts Receivable           49,042,528            56,472,091             20,513,628
Other Receivables              1,200,000               1,400,000                               –  
Allowance for Doubtful Accounts           (2,942,552)           (2,387,691)            (1,578,525)
Inventory           65,990,780            75,351,471             23,531,507
Reserve for Inventory Obsolescence         (10,558,525)         (12,136,103)            (3,765,000)
Prepaid Insurance              2,667,722               2,830,474                1,829,143
Prepaid Rent                             –                                –                     250,000
Office Supplies                      9,182                       9,565                        9,259
Investments – Trading              6,978,923               6,850,198                6,935,712
Total current assets         113,840,024          129,628,483             48,782,141
Fixed assets:   
Land                 131,040                  131,040                   146,250
Buildings and Land Improvements                 833,775                  698,775                   779,882
Machinery, Equipment, Office Furniture              3,280,589               3,280,589                   541,522
Accum. Depreciation           (1,403,257)               (786,102)                (205,000)
Other Noncurrent Assets                             –                                –                        67,301
Total fixed assets              2,842,147               3,324,302                1,329,955
Total Assets         116,682,171          132,952,785             50,112,096
Liabilities   
Current liabilities:   
Accounts Payable           12,850,648            19,488,866                8,934,591
Wages Payable                 198,384                  264,513                      36,838
FICA Employee Withholding                      7,089                       9,452                        1,648
Medicare Withholding                      9,589                     12,785                            730
Federal Payroll Taxes Payable                    99,192                  132,256                        7,541
State Payroll Taxes Payable                    46,200                     61,630                        3,519
FICA Employer Withholding                      7,089                       9,452                        1,648
Medicare Employer Withholding                      9,589                     12,785                            730
Income Taxes Receivable/Payable              6,011,540               3,205,440                               –  
Line of Credit           47,481,737            52,231,360             12,500,000
Current Portion Long-Term Debt                 721,480                  677,640                               –  
Interest payable                 568,429                  470,311                               –  
Bonuses payable                 459,000                  504,000                               –  
Dividend payable           15,000,000            15,250,000                6,000,000
Total current liabilities           83,469,966            92,330,490             27,487,245
Long Term Liabilities:   
Long Term Notes Payable           12,040,880            12,762,360                               –  
Total Long Term Liabilities           12,040,880            12,762,360                               –  
Total Liabilities           95,510,846          105,092,850             27,487,245
Stockholder’s Equity   
Common Stock           10,131,250            10,131,250             10,131,250
Paid-in Capital              9,278,750               9,278,750                9,278,750
Retained Earnings              1,761,325               8,449,935                3,214,851
Total Stockholder’s Equity           21,171,325            27,859,935             22,624,851
Total liabilities and Stockholder’s Equity         116,682,171          132,952,785             50,112,096
 
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