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TIMOTHY ROSE CONTRACTING , INC . <br /> STATEMENT OF INCOME AND RETAINED EARNINGS <br /> FOR THE YEAR ENDED DECEMBER 31 , 2007 <br /> REVENUES $ 61040 , 008 <br /> COST OF REVENUES 5 , 130 , 846 <br /> GROSS PROFIT 909 , 162 <br /> GENERAL AND ADMINISTRATIVE EXPENSES 660 , 721 <br /> INCOME FROM OPERATIONS 248 , 441 <br /> OTHER INCOME ( EXPENSES ) : <br /> Interest and dividend income 22 , 263 <br /> Other income <br /> Interest expense ( 13 , 651 ) <br /> Loss on disposal of equipment ( 13 , 009 ) <br /> (4 , 397 ) <br /> NET INCOME 2441044 <br /> Unrealized loss on available- <br /> for sale marketable securities (41593 ) <br /> TOTAL COMPREHENSIVE INCOME 2391451 <br /> RETAINED EARNINGS , Beginning of Year 11052 , 263 <br /> LESS STOCKHOLDER DISTRIBUTIONS (44 , 168 ) <br /> RETAINED EARNINGS , End of Year $ 1 . 247 . 546 <br /> Read the accompanying notes and accountants ' review report <br /> 3 <br />