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Barth Construction, Inc. <br /> STATEMENT OF EARNINGS <br /> (See Independent Accountants' Review Report) <br /> Year ended September 30, 2011 <br /> Revenues $ 2,027 ,306 <br /> Cost of revenue 1 ,835,335 <br /> Gross profit 191 ,971 <br /> Operating expenses <br /> Management fees $ 2002000 <br /> Payroll expenses 143 ,769 <br /> Profit sharing expense 103 ,229 <br /> Insurance 83 , 166 <br /> Office expense 11 ,489 <br /> Warranty expenses 10, 149 <br /> Telephone and utilities 8 ,772 <br /> Professional fees 4,950 <br /> Depreciation 42506 <br /> Advertising and promotion 4,315 <br /> Vehicle expenses 4,085 <br /> Repairs and maintenance 3 ,919 <br /> Estimating expenses 2,654 <br /> Contributions 1 ,770 <br /> Rent 1 ,284 <br /> Taxes and licenses 761 <br /> Dues and subscriptions 495 <br /> Drug screening expense 40 <br /> Interest 33 <br /> Bank charges 8 5892394 <br /> (397,423) <br /> Other revenue (expenses) <br /> Overhead expense reimbursement 339,325 <br /> Interest and dividends earned 10,017 <br /> Management fees 16,095 365,437 <br /> Net loss before income taxes (31 ,986) <br /> Income tax (expense) benefit <br /> Currently payable ( 18)688) <br /> Deferred tax benefit 59,300 40,612 <br /> NET EARNINGS $ 8 ,626 <br /> The accompanying notes are an integral part of this statement. <br /> - 4 - <br />