3. 1920’s Louis and Mary Cohen open a grocery store in Church Hill 1940’s Grocery store begins to carry a few hard to find items 1954 Grocery store was sold and Southern Distributors is created 1960 Southern Distributors become a corporation 1966 Frank Cohen began to work summers at Southern Distributors 1967 The state of Virginia took the location using the power of eminent domain 1968 Southern Distributors moves to new location across The Manchester Bridge 1968 The state of Virginia takes this location also 1970 Frank Cohen graduates from Va. Tech and begins working in the family business 1970 Southern Distributors hits the high point of business 1973 Mr. Cohen’s grandmother began transferring shares of stock to him on a yearly basis 1985 Mr. Cohen’s grandmother passes away leaving the remaining stock and building to his father 2002 Mr. Cohen receives his stocks from his father’s will 2007 Southern Distributors, Inc. moves to it’s present location 2010 Mr. Cohen seeks advice from VCU’s incredible marketing group
29. Financial Position Income Statement US-GAAP Southern Distributors , Inc. 2010 (Last 3 Months) Revenues $226,597 Cost of Goods Sold $155,616 Gross Profit $70,981