EFTA01201267.pdf

Tax retumsfiles = ;and John Murphy comparison of tax return to excel P&L. I have not discussed w= ith him — not clear on the other expenses on the "trend" = 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 th= e 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 Tax purposes. Comparing the tax returns to the QB= files this gives us a comfort level on the validity of the data. I will pe= rform some substantial testing to verify salaries etc. (I will also question Catherine on some of the class= ification of 2011 expenses) I will keep you updated as I make progress. Regards, John. <= /span> EFTA01201267 John Murphy COO/CFO Phaidon Press 65 Bleecker Street New York, NY 10012 + <= /span> phaidon.com EFTA01201268