Kartoon Studios, Inc. Annual report pursuant to section 13 and 15(d)

Annual report pursuant to section 13 and 15(d)

Note 3: Accrued Liabilities

Note 3: Accrued Liabilities

12 Months Ended

Dec. 31, 2011

Other Liabilities Disclosure [Text Block]

Note 3: Accrued Liabilities

Accrued but unpaid salaries and vacation benefits total $193,519 and $62,551 as of December 31, 2011 and 2010, respectively. Debenture Interest accrued and unpaid for the previously outstanding balance is $19,049 in both 2011 and 2010. Other accrued liabilities totaling $408,684 in 2011 and $221,739 in 2010 are as follows:

	2011		2010

Allowance for Sales Returns	$	84,000	$	76,000
Distribution Arrangements Payable		236,420		-
Commission on Royalties		-		71,485
Royalties Payable		50,743		44,940
Other Accrued Expenses		37,521		29,314
Total Accrued Expenses	$	408,684	$	221,739