EFTA01201266.pdf

Tax returnsfiles and John Murphy comparison of tax return to excel P&L. I have not discussed with him - not clear on the other expenses on the "tre= nd" file, first tab - row 42. From: John Murphy [mailto: Sent: Friday, August 01, 2014 4:45 PM To: Richard Joslin; Eileen Alexanderson Subject: Trends and Reconciliation to Tax Returns Richard/Eileen, I have created a simple spreadsheet (ArtSpace Trends) that shows the major = Income statements and Balance Sheet items by month. I will look at this to verify where the cash is going. In the meantime I also used this file to tie back the QB financials to the Tax Returns and highlight any differences. Note 2013 is based on accruals, while 2011 and 2012 was on a Cash basis. As I look at 2012 and 2013 the major differences are disallowable T&E for T= ax purposes. Comparing the tax returns to the QB files this gives us a comf= ort level on the validity of the data. I will perform some substantial test= ing to verify salaries etc. (I will also question Catherine on some of the classification of 2011 expen= ses) I will keep you updated as I make progress. Regards, John. John Murphy COO/CFO Phaidon Press 65 Bleecker Street New York, NY 10012 <mailto: phaidon.com EFTA01201266