It's the reprint aprilp_katje deconstructed Wednesday.
Panel 1: Elly hugs a mildly-freaked out Michael and tells him that she still can't believe that he's in Grade One.
Panel 2: She then gushes that the next twelve years will be the best years of his life.
Panel 3: He replies that he doesn't think School is as good as she says it is.
Panel 4: Reason: they're making him and his classmates WORK!!
Summary: This means that we'll be spending the next few weeks watching John whine that if Elly takes a part-time job, he won't have a hoooooooooome. That annoying kick to her ex's crotch will contain fifty percent more assiness so as to more successfully appeal to modern sensiblities and to fill in the gap the premature attival of Farley punched in the plot.