Sandwich Shop | Financial Information
FINANCIAL INFORMATION
Romastrano Incorporated has operated profitably since its inception in July, 1993. The company has operated with minimum overhead and$30>000 in annual executive salaries during this period. During the initial phases of the company, a subsidiary company, Carters Inc., was formed for the purposes of delivering bread, produce, potato chips and other products to the franchised shops. This resulted in the hiring of one and one-half full-time employees, the purchasing of a truck, and other substantial expenses. It was determined that the delivery system was inadequate and too costly. The company has since made arrangements for direct shipment of all product by the suppliers to individual shops. The company receives a small mark-up for Romastrano product sales, which averages approximately $1,000 per month currently. Carters, Inc. was liquidated in 1994 and incurred a loss of approximately $25,000 during its first and only operating year, which loss...
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