FLORHAM CONSULTING CORP - FORM 8-K/A - EX-99.13 - February 16, 2011

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8-K/A - FLORHAM CONSULTING CORPv211591_8ka.htm
EX-99.5 - FLORHAM CONSULTING CORPv211591_ex99-5.htm
EX-99.6 - FLORHAM CONSULTING CORPv211591_ex99-6.htm
EX-99.3 - FLORHAM CONSULTING CORPv211591_ex99-3.htm
EX-99.8 - FLORHAM CONSULTING CORPv211591_ex99-8.htm
EX-99.7 - FLORHAM CONSULTING CORPv211591_ex99-7.htm
EX-99.2 - FLORHAM CONSULTING CORPv211591_ex99-2.htm
EX-99.4 - FLORHAM CONSULTING CORPv211591_ex99-4.htm
EX-99.14 - FLORHAM CONSULTING CORPv211591_ex99-14.htm
EX-99.12 - FLORHAM CONSULTING CORPv211591_ex99-12.htm
EX-99.11 - FLORHAM CONSULTING CORPv211591_ex99-11.htm
EX-99.9 - FLORHAM CONSULTING CORPv211591_ex99-9.htm
EX-99.10 - FLORHAM CONSULTING CORPv211591_ex99-10.htm
EX-10.11 - FLORHAM CONSULTING CORPv211591_ex10-11.htm

PROFESSIONAL CULINARY ACADEMY LLC
BALANCE SHEET
SEPTEMBER 30, 2009

ASSETS
      
       
Current Assets
      
Cash
   $ 14  
Student tuition receivable, net of allowance for uncollectables of $1,682
     166,493  
Total current assets
     166,507  
         
Other Assets
        
Organization costs, net of accumulated amortization of $61
     673  
         
Total assets
   $ 167,180  
         
LIABILITIES AND MEMBERS' EQUITY
        
         
Current Liabilities
        
Accounts payable
   $ 17,677  
Accrued expenses payable
     11,316  
Deferred tuition revenue
     124,729  
Total current liabilities
     153,722  
         
Members' Equity
     13,458  
         
Total liabilities and members' equity
   $ 167,180  
 
 
 
 
 
PROFESSIONAL CULINARY ACADEMY LLC
STATEMENT OF INCOME
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2009

Tuition and Student Fee Revenues
   $ 296,490  
         
Operating Costs and Expenses
        
Student instructional costs
     57,879  
Recruitment costs
     13,208  
Occupancy costs
     18,168  
General and administrative expenses
     58,390  
Total operating costs and expenses
     147,645  
         
Operating income before management fees
     148,845  
         
Related party management fees
     128,250  
         
Income before depreciation
     20,595  
         
Depreciation and amortization expense
     37  
         
Net income
   $ 20,558  
 
 
 
 
 
PROFESSIONAL CULINARY ACADEMY LLC
STATEMENT OF MEMBERS' EQUITY
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2009

Balance - January 1, 2009
   $ 800  
         
Capital distributions, net
     (7,900 )
         
Net income for the nine months ended September 30, 2009
     20,558  
         
Balance - September 30, 2009
   $ 13,458  
 
 
 
 
 
PROFESSIONAL CULINARY ACADEMY LLC
STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2009

Cash Flows from Operating Activities
      
Net income
   $ 20,558  
Noncash items included in net income:
        
Depreciation and amortization expense
     37  
      20,595  
         
Changes in operating assets and liabilities
        
Decrease (increase) in assets:
        
Student tuition receivable
     (166,493 )
Increase (decrease) in liabilities:
        
Accounts payable
     17,677  
Accrued expenses payable
     11,316  
Deferred tuition revenue
     124,729  
      (12,771 )
         
Net cash provided by operating activities
     7,824  
         
Cash Flows from Investing Activities:
     0  
         
Cash Flows from Financing Activities:
        
Capital distributions to members
     (7,900 )
         
Net decrease in cash
     (76 )
         
Cash - January 1, 2009
     90  
         
Cash - September 30, 2009
   $ 14  
         
Supplemental disclosure of cash flow information:
        
Cash paid during the nine months for interest
   $ 0  
Cash paid during the nine months for income taxes
   $ 0  
 
 
 
 

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