Date: Thu, 18 Dec 1997 06:32:21 GMT Server: Stronghold/2.0.1 Apache/1.2.0 Connection: close Content-Type: text/html BIG ROCK BREWERY: Financial Statements

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FINANCIAL STATEMENTS

Big Rock Brewery Ltd. (Incorporated under the Canada Business Corporations Act)

CONSOLIDATED STATEMENTS OF
INCOME AND RETAINED EARNINGS

As at March 31

1997
$

1996
$

(Denominated in Canadian Dollars)

REVENUE

Sales

24,163,841

21,957,456

Government taxes and commissions

(9,039,191)

(8,282,244)



15,124,650

13,675,212

Cost of Sales

7,368,018

6,816,262



Gross Profit

7,756,632

6,858,950

EXPENSES

Selling, general and administrative

4,699,778

3,684,851

Interest on long-term debt [note 4]

545,093

108,737

Amortization

823,200

681,025

Bad debt expense

348,412

244,414

Writedown of surplus facilities and equipment [note 4]

500,000

--



6,916,483

4,719,027

Income before income taxes

840,149

2,139,923

Income taxes [note 8]

325,000

836,000



Net income for year

515,149

1,303,923

Retained earnings,
beginning of year

6,099,341

4,795,418

Retained earnings,
end of year

6,614,490

6,099,341





Earnings per share [note 2]

Basic and fully diluted

0.12

0.30

See accompanying notes.

	  __________
          
          

This Annual Report
Financial Highlights | Report to Shareholders
Management Discussion and Analysis | Auditors' Report
Financial Statements and Notes | Corporate Information


Big Rock Brewery
5555 76th Ave S.E., Calgary, Alberta, Canada, Phone: 403-720-3239, Fax: 403-236-7523
ale@bigrockbeer.com

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