these factors include , but are not necessarily limited to , product demand , dependence on and competition within the primary markets in which monro 's stores are located , the need for and costs associated with store renovations and other capital expenditures , the effect of economic conditions , the impact of competitive services and pricing , parts supply restraints or difficulties , industry regulation , risks relating to leverage and debt service ( including sensitivity to fluctuations in interest rates ) , continued availability of capital resources and financing , disruption or unauthorized access to our computer systems , risks relating to protection of customer and employee personal data , risks relating to litigation , risks relating to integration of acquired businesses , including goodwill impairment and the risks set forth in item 1a . risk factors . except as required by law , we do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf . critical accounting policies we believe that the accounting policies listed below are those that are most critical to the portrayal of our financial condition and results of operations , and that required management 's most difficult , subjective and complex judgments in estimating the effect of inherent uncertainties . this section should be read in conjunction with note 1 to the consolidated financial statements which includes other significant accounting policies . inventory we evaluate whether inventory is stated at the lower of cost or market based on historical experience with the carrying value and life of inventory . the assumptions used in this evaluation are based on current market conditions and we believe inventory is stated at the lower of cost or market in the consolidated financial 22 statements . in addition , historically we have been able to return excess items to vendors for credit or sell such inventory to wholesalers . future changes by vendors in their policies or willingness to accept returns of excess inventory could require a revision in the estimates . carrying values of goodwill and long-lived assets we have a history of growth through acquisitions . assets and liabilities of acquired businesses are recorded at their estimated fair values as of the date of acquisition . goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses . the carrying value of goodwill is subject to annual impairment reviews , which we typically perform in the third quarter of the fiscal year . impairment reviews may also be triggered by any significant events or changes in circumstances affecting our business . we have only one reporting unit which encompasses all operations including new acquisitions . the goodwill impairment test consists of a two-step process , if necessary . we perform a qualitative assessment to determine if it is more likely than not that the fair value is less than the carrying value of goodwill . if the qualitative factors are triggered , we perform the two-step process . the first step is to compare the fair value to the book value of our reporting unit . if the fair value is less than its carrying value , the second step of the impairment test must be performed in order to determine the amount of impairment loss , if any . the second step compares the implied fair value of goodwill with the carrying amount of that goodwill . if the carrying amount of goodwill exceeds its implied fair value , an impairment charge is recognized in an amount equal to that excess . the loss recognized can not exceed the carrying amount of goodwill . we believe there is little risk of impairment . intangible assets primarily represent allocations of purchase price to identifiable intangible assets of acquired businesses and are amortized over their estimated useful lives . all intangibles and other long-lived assets are reviewed when events or changes in circumstances indicate that the asset 's carrying value may not be recoverable . if such indicators are present , it is determined whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying values . a deterioration of macroeconomic conditions may not only negatively impact the estimated operating cash flows used in our cash flow models , but may also negatively impact other assumptions used in our analyses , including , but not limited to , the estimated cost of capital and or discount rates . additionally , as discussed above , we are required to ensure that assumptions used to determine fair value in our analyses are consistent with the assumptions a hypothetical marketplace participant would use . as a result , the cost of capital and or discount rates used in our analyses may increase or decrease based on market conditions and trends , regardless of whether our actual cost of capital has changed . therefore , we may recognize an impairment of an intangible asset or assets even though realized actual cash flows are approximately equal to or greater than our previously forecasted amounts . self-insurance reserves we are largely self-insured with respect to workers ' compensation , general liability and employee medical claims . in order to reduce our risk and better manage our overall loss exposure , we purchase stop-loss insurance that covers individual claims in excess of the deductible amounts , and caps total losses in a fiscal year . we maintain an accrual for the estimated cost to settle open claims as well as an estimate of the cost of claims that have been incurred but not reported . story_separator_special_tag labor productivity , as measured by sales per man hour , improved over the prior year as well . distribution and occupancy costs decreased as a percentage of sales from the prior year as we leveraged these largely fixed costs with the increase in sales from acquired stores . total material costs were relatively flat as a percentage of sales as compared to the prior year . this was due to a shift in mix to the lower margin service and tire categories , the latter due primarily to the acquisition of more tire stores , offset by a meaningful decline in product costs , particularly tires . operating expenses for fiscal 2014 were $ 224.6 million or 27.0 % of sales compared with $ 204.4 million or 27.9 % of sales for fiscal 2013. excluding the increase in operating expenses related to the stores acquired in fiscal 2014 and fiscal 2013 , operating expenses actually decreased by approximately $ 2.2 million . this demonstrates that we experienced leverage in this line on a comparable store basis through focused cost control and pay plans which appropriately adjust for performance . operating income in fiscal 2014 of $ 95.3 million increased 29.4 % compared to operating income of $ 73.7 million in fiscal 2013 , and increased as a percentage of sales from 10.1 % to 11.5 % for the reasons described above . net interest expense for fiscal 2014 increased by approximately $ 2.3 million as compared to the prior year , and increased as a percentage of sales from 1.0 % to 1.1 % . the weighted average debt outstanding for the year ended march 29 , 2014 increased by approximately $ 61 million from fiscal 2013 , primarily related to an increase in debt outstanding under our revolving credit facility to fund the purchase of our acquisitions , as well as increased capital leases related to our fiscal 2013 acquisitions . partially offsetting this increase was a decrease in the weighted average interest rate of approximately 40 basis points from the prior year due to a shift in the percentage of debt ( revolver vs. capital leases ) outstanding at a lower rate . our effective tax rate was 37.1 % and 36.3 % , respectively , of pre-tax income in fiscal 2014 and 2013. the difference primarily relates to the accounting for uncertain tax positions which may vary from year to year . net income for fiscal 2014 increased by $ 11.9 million , or 27.9 % , from $ 42.6 million in fiscal 2013 , to $ 54.5 million in fiscal 2014 , and earnings per diluted share increased by 26.5 % from $ 1.32 to $ 1.67 due to the factors discussed above . fiscal 2013 as compared to fiscal 2012 sales for fiscal 2013 increased $ 45.4 million or 6.6 % to $ 732.0 million as compared to $ 686.6 million in fiscal 2012. the increase was due to an increase of $ 99.6 million related to new stores , of which $ 95.3 million came from the fiscal 2012 and fiscal 2013 acquisitions . offsetting this was a decrease in comparable store sales of 7.3 % . additionally , there was a decrease in sales from closed stores amounting to $ 6.4 million . fiscal 2013 was a 52-week year , and therefore , there were 361 selling days as compared to 368 selling days in fiscal 2012. adjusting for days , comparable store sales were down 5.5 % . 25 as occurred in previous years , we completed the bulk sale of approximately $ 2.4 million of slower moving inventory to icon international , a barter company , in exchange for barter credits . the margin recognized in these transactions is typically less than our normal profit margin . the barter transaction that occurred in fiscal 2013 decreased gross profit and operating expenses by .1 % of sales . during the year , 144 stores were added and 10 were closed . at march 30 , 2013 , we had 937 company-operated stores in operation . we believe that the decline in comparable store sales for fiscal 2013 resulted mainly from the continued weak u.s. economy . with the continuation of high gasoline prices , lack of consumer confidence and high unemployment , we believe that customers are continuing to defer tire purchases and service repairs , especially on higher ticket items . additionally , we believe that the milder winter weather in 2013 and 2012 also led to consumers deferring tire purchases . while it appears that repairs and tire purchases are being deferred more and for longer than in prior years , most can only be deferred for a period of time due to safety issues or state inspection requirements . gross profit for fiscal 2013 was $ 278.1 million or 38.0 % of sales as compared with $ 276.4 million or 40.3 % of sales for fiscal 2012. the decrease in gross profit for fiscal 2013 , as a percentage of sales , is due to several factors . total material costs increased as a percentage of sales as compared to the prior year . this was due to a shift in mix to the lower margin service and tire categories , the latter due in part to the acquisition of more tire stores . distribution and occupancy costs increased as a percentage of sales from the prior year as we lost leverage on these largely fixed costs with lower comparable store sales . labor costs were relatively flat as a percentage of sales as compared to the prior year . operating expenses for fiscal 2013 were $ 204.4 million or 27.9 % of sales compared with $ 185.0 million or 26.9 % of sales for fiscal 2012. excluding the operating expenses related to the stores acquired in fiscal 2013 , operating expenses actually decreased by approximately $ 1.5 million , after adjusting for the extra week in fiscal

capital resources our primary capital requirements for fiscal 2014 were divided among the funding of acquisitions for $ 27.5 million , as well as the upgrading of facilities and systems and the funding of our store expansion program totaling $ 32.2 million . in fiscal 2013 , our primary capital requirements were divided among the funding of acquisitions for $ 163.3 million , as well as the upgrading of facilities and systems , including the completion of the approximate $ 4.6 million expansion of the rochester , new york office and warehouse facility which began in fiscal 2012 , and the funding of our store expansion program totaling $ 34.2 million . in both fiscal years 2014 and 2013 , capital requirements were primarily met by cash flow from operations and from our revolving credit facility . in fiscal 2015 , we intend to open approximately four new greenfield stores . total capital required to open a new greenfield service store ranges , on average ( excluding the acquired stores and bj 's locations ) , from $ 350,000 to $ 950,000 depending on whether the store is leased , owned or land leased . total capital required to open a new greenfield tire ( land and building leased ) location costs , on average , approximately $ 600,000 , including $ 225,000 for equipment and $ 150,000 for inventory . monro paid dividends of $ 14.2 million in fiscal 2014. in may 2014 , monro 's board of directors declared its intention to pay a regular quarterly cash dividend of $ .13 per common share or common share equivalent beginning with the first quarter of fiscal 2015. we also plan to continue to seek suitable acquisition candidates . management believes that we have sufficient resources available ( including cash flow from operations and bank financing ) to expand our business as currently planned for the next several years .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```capital resources our primary capital requirements for fiscal 2014 were divided among the funding of acquisitions for $ 27.5 million , as well as the upgrading of facilities and systems and the funding of our store expansion program totaling $ 32.2 million . in fiscal 2013 , our primary capital requirements were divided among the funding of acquisitions for $ 163.3 million , as well as the upgrading of facilities and systems , including the completion of the approximate $ 4.6 million expansion of the rochester , new york office and warehouse facility which began in fiscal 2012 , and the funding of our store expansion program totaling $ 34.2 million . in both fiscal years 2014 and 2013 , capital requirements were primarily met by cash flow from operations and from our revolving credit facility . in fiscal 2015 , we intend to open approximately four new greenfield stores . total capital required to open a new greenfield service store ranges , on average ( excluding the acquired stores and bj 's locations ) , from $ 350,000 to $ 950,000 depending on whether the store is leased , owned or land leased . total capital required to open a new greenfield tire ( land and building leased ) location costs , on average , approximately $ 600,000 , including $ 225,000 for equipment and $ 150,000 for inventory . monro paid dividends of $ 14.2 million in fiscal 2014. in may 2014 , monro 's board of directors declared its intention to pay a regular quarterly cash dividend of $ .13 per common share or common share equivalent beginning with the first quarter of fiscal 2015. we also plan to continue to seek suitable acquisition candidates . management believes that we have sufficient resources available ( including cash flow from operations and bank financing ) to expand our business as currently planned for the next several years .
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 Suspicious Activity Report : these factors include , but are not necessarily limited to , product demand , dependence on and competition within the primary markets in which monro 's stores are located , the need for and costs associated with store renovations and other capital expenditures , the effect of economic conditions , the impact of competitive services and pricing , parts supply restraints or difficulties , industry regulation , risks relating to leverage and debt service ( including sensitivity to fluctuations in interest rates ) , continued availability of capital resources and financing , disruption or unauthorized access to our computer systems , risks relating to protection of customer and employee personal data , risks relating to litigation , risks relating to integration of acquired businesses , including goodwill impairment and the risks set forth in item 1a . risk factors . except as required by law , we do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf . critical accounting policies we believe that the accounting policies listed below are those that are most critical to the portrayal of our financial condition and results of operations , and that required management 's most difficult , subjective and complex judgments in estimating the effect of inherent uncertainties . this section should be read in conjunction with note 1 to the consolidated financial statements which includes other significant accounting policies . inventory we evaluate whether inventory is stated at the lower of cost or market based on historical experience with the carrying value and life of inventory . the assumptions used in this evaluation are based on current market conditions and we believe inventory is stated at the lower of cost or market in the consolidated financial 22 statements . in addition , historically we have been able to return excess items to vendors for credit or sell such inventory to wholesalers . future changes by vendors in their policies or willingness to accept returns of excess inventory could require a revision in the estimates . carrying values of goodwill and long-lived assets we have a history of growth through acquisitions . assets and liabilities of acquired businesses are recorded at their estimated fair values as of the date of acquisition . goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses . the carrying value of goodwill is subject to annual impairment reviews , which we typically perform in the third quarter of the fiscal year . impairment reviews may also be triggered by any significant events or changes in circumstances affecting our business . we have only one reporting unit which encompasses all operations including new acquisitions . the goodwill impairment test consists of a two-step process , if necessary . we perform a qualitative assessment to determine if it is more likely than not that the fair value is less than the carrying value of goodwill . if the qualitative factors are triggered , we perform the two-step process . the first step is to compare the fair value to the book value of our reporting unit . if the fair value is less than its carrying value , the second step of the impairment test must be performed in order to determine the amount of impairment loss , if any . the second step compares the implied fair value of goodwill with the carrying amount of that goodwill . if the carrying amount of goodwill exceeds its implied fair value , an impairment charge is recognized in an amount equal to that excess . the loss recognized can not exceed the carrying amount of goodwill . we believe there is little risk of impairment . intangible assets primarily represent allocations of purchase price to identifiable intangible assets of acquired businesses and are amortized over their estimated useful lives . all intangibles and other long-lived assets are reviewed when events or changes in circumstances indicate that the asset 's carrying value may not be recoverable . if such indicators are present , it is determined whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying values . a deterioration of macroeconomic conditions may not only negatively impact the estimated operating cash flows used in our cash flow models , but may also negatively impact other assumptions used in our analyses , including , but not limited to , the estimated cost of capital and or discount rates . additionally , as discussed above , we are required to ensure that assumptions used to determine fair value in our analyses are consistent with the assumptions a hypothetical marketplace participant would use . as a result , the cost of capital and or discount rates used in our analyses may increase or decrease based on market conditions and trends , regardless of whether our actual cost of capital has changed . therefore , we may recognize an impairment of an intangible asset or assets even though realized actual cash flows are approximately equal to or greater than our previously forecasted amounts . self-insurance reserves we are largely self-insured with respect to workers ' compensation , general liability and employee medical claims . in order to reduce our risk and better manage our overall loss exposure , we purchase stop-loss insurance that covers individual claims in excess of the deductible amounts , and caps total losses in a fiscal year . we maintain an accrual for the estimated cost to settle open claims as well as an estimate of the cost of claims that have been incurred but not reported . story_separator_special_tag labor productivity , as measured by sales per man hour , improved over the prior year as well . distribution and occupancy costs decreased as a percentage of sales from the prior year as we leveraged these largely fixed costs with the increase in sales from acquired stores . total material costs were relatively flat as a percentage of sales as compared to the prior year . this was due to a shift in mix to the lower margin service and tire categories , the latter due primarily to the acquisition of more tire stores , offset by a meaningful decline in product costs , particularly tires . operating expenses for fiscal 2014 were $ 224.6 million or 27.0 % of sales compared with $ 204.4 million or 27.9 % of sales for fiscal 2013. excluding the increase in operating expenses related to the stores acquired in fiscal 2014 and fiscal 2013 , operating expenses actually decreased by approximately $ 2.2 million . this demonstrates that we experienced leverage in this line on a comparable store basis through focused cost control and pay plans which appropriately adjust for performance . operating income in fiscal 2014 of $ 95.3 million increased 29.4 % compared to operating income of $ 73.7 million in fiscal 2013 , and increased as a percentage of sales from 10.1 % to 11.5 % for the reasons described above . net interest expense for fiscal 2014 increased by approximately $ 2.3 million as compared to the prior year , and increased as a percentage of sales from 1.0 % to 1.1 % . the weighted average debt outstanding for the year ended march 29 , 2014 increased by approximately $ 61 million from fiscal 2013 , primarily related to an increase in debt outstanding under our revolving credit facility to fund the purchase of our acquisitions , as well as increased capital leases related to our fiscal 2013 acquisitions . partially offsetting this increase was a decrease in the weighted average interest rate of approximately 40 basis points from the prior year due to a shift in the percentage of debt ( revolver vs. capital leases ) outstanding at a lower rate . our effective tax rate was 37.1 % and 36.3 % , respectively , of pre-tax income in fiscal 2014 and 2013. the difference primarily relates to the accounting for uncertain tax positions which may vary from year to year . net income for fiscal 2014 increased by $ 11.9 million , or 27.9 % , from $ 42.6 million in fiscal 2013 , to $ 54.5 million in fiscal 2014 , and earnings per diluted share increased by 26.5 % from $ 1.32 to $ 1.67 due to the factors discussed above . fiscal 2013 as compared to fiscal 2012 sales for fiscal 2013 increased $ 45.4 million or 6.6 % to $ 732.0 million as compared to $ 686.6 million in fiscal 2012. the increase was due to an increase of $ 99.6 million related to new stores , of which $ 95.3 million came from the fiscal 2012 and fiscal 2013 acquisitions . offsetting this was a decrease in comparable store sales of 7.3 % . additionally , there was a decrease in sales from closed stores amounting to $ 6.4 million . fiscal 2013 was a 52-week year , and therefore , there were 361 selling days as compared to 368 selling days in fiscal 2012. adjusting for days , comparable store sales were down 5.5 % . 25 as occurred in previous years , we completed the bulk sale of approximately $ 2.4 million of slower moving inventory to icon international , a barter company , in exchange for barter credits . the margin recognized in these transactions is typically less than our normal profit margin . the barter transaction that occurred in fiscal 2013 decreased gross profit and operating expenses by .1 % of sales . during the year , 144 stores were added and 10 were closed . at march 30 , 2013 , we had 937 company-operated stores in operation . we believe that the decline in comparable store sales for fiscal 2013 resulted mainly from the continued weak u.s. economy . with the continuation of high gasoline prices , lack of consumer confidence and high unemployment , we believe that customers are continuing to defer tire purchases and service repairs , especially on higher ticket items . additionally , we believe that the milder winter weather in 2013 and 2012 also led to consumers deferring tire purchases . while it appears that repairs and tire purchases are being deferred more and for longer than in prior years , most can only be deferred for a period of time due to safety issues or state inspection requirements . gross profit for fiscal 2013 was $ 278.1 million or 38.0 % of sales as compared with $ 276.4 million or 40.3 % of sales for fiscal 2012. the decrease in gross profit for fiscal 2013 , as a percentage of sales , is due to several factors . total material costs increased as a percentage of sales as compared to the prior year . this was due to a shift in mix to the lower margin service and tire categories , the latter due in part to the acquisition of more tire stores . distribution and occupancy costs increased as a percentage of sales from the prior year as we lost leverage on these largely fixed costs with lower comparable store sales . labor costs were relatively flat as a percentage of sales as compared to the prior year . operating expenses for fiscal 2013 were $ 204.4 million or 27.9 % of sales compared with $ 185.0 million or 26.9 % of sales for fiscal 2012. excluding the operating expenses related to the stores acquired in fiscal 2013 , operating expenses actually decreased by approximately $ 1.5 million , after adjusting for the extra week in fiscal

