GAO audited the financial transactions of the House Beauty Shop for the calendar year 1980. The House Beauty Shop provides a convenient beauty facility for congresswomen, wives of congressmen, congressional employees, and the general public. The beauty shop realized a net income of $8,345 for 1980 compared with a net income of $9,204 for 1979. GAO examined the balance sheet of the beauty shop as of December 31, 1980 and 1979, and the related statements of operations and changes in financial position for the years then ended. In the opinion of GAO, the financial statements presented fairly the financial position of the House Beauty Shop as of December 31, 1980 and 1979, and the results of its operations and changes in financial position for the years then ended, in conformity with the financial accounting policies applied on a basis consistent with that of the preceding year.
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