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West Construction, Inc. and Subsidiaries <br />Consolidated Statements of Income and Retained Earnings <br />For the years ended December 31, 2014 and 2013 <br />2014 2013 <br />Construction revenues $ 35,569,535 $ 21,286,332 <br />Cost of construction 31,784,037 19,250,483 <br />Gross profit 3,785,498 2,035,849 <br />Expenses <br />General and administrative 2,107,439 2,255,538 <br />Foreign income taxes 50,675 23,947 <br />Total expenses <br />Income (loss) from operations before <br />other income (loss) <br />2,158,114 2,279,485 <br />1,627,384 (243,636) <br />Other income (loss) (2,757) 154,630 <br />Net income (loss) 1,624,627 (89,006) <br />Retained earnings, beginning of year 4,652,767 4,741,773 <br />Stockholder distributions (220,408) -0- <br />Retained earnings, end of year $ 6,056,986 $ 4,652,767 <br />Read the accompanying notes and independent auditors' report. <br />-5of18- <br />