PEILCC Annual Report 2024

PRINCE EDWARD ISLAND LIQUOR CONTROL COMMISSION Statement of Profit or Loss Year Ended March 31, 2024

2024

2023

Revenues

$ 96,668,019

Sales (Note 12)

$ 97,174,614

56,901,891

Cost of sales (Note 6)

56,682,256

39,766,128

Gross margin

40,492,358

Expenses Amortization of property and equipment (Schedules 1 and 2) Amortization of right-of-use assets (Schedules 1 and 2)

717,056 608,538 909,064 324,536 1,935 231,358 261,705 508,160 1,028,824 12,815,319 679,898 109,564 877,958

825,121 642,628 885,784 315,165

Credit and debit card charges Insurance and property taxes (Note 13) Interest on debentures (Notes 9, 13)

2,880

Interest on obligations under capital lease (Note 10)

233,962 179,127 419,281 1,051,287 12,489,784 650,083

Operating leases

Other operating expenses (Note 14) Repairs and maintenance Salaries and benefits (Notes 13, 15) Store and office expenses

Travel Utilities

96,914 913,619

19,073,915

18,705,635

Income from operations Other revenues (Note 16)

20,692,213 3,504,107

21,786,723 3,384,584

Net income

$ 24,196,320

$ 25,171,307

Notes 1 - 20 are an integral part of these financial statements 5

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PEILCC 2023-2024 Annual Report