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Johnson -Davis, Incorporated <br />Statement of Income and Retained Earnings <br />For the Year Ended. June 30, 2017 <br />Contract and Service Revenues <br />Cost of Revenues, including provision for <br />depreciation of $ 961,154 <br />Gross profit <br />Selling, General and Administrative Expenses: <br />Selling, general and administrative expenses, including <br />a provision for depreciation of $105,754 <br />Income from operations <br />Other Income (Expense): <br />Miscellaneous income <br />Gain on sale of property and equipment <br />Interest income <br />Interest expense <br />Income before provision (credit) for income taxes <br />Provision (Credit) for Income Taxes: <br />Current <br />Deferred <br />Net income <br />Retained Earnings, July 1, 2016 <br />Retained Earnings, June 30, 2017 <br />$ 110,126 <br />26,029 <br />8,679 <br />(17,241) <br />$ 31,101,833 <br />23,547,592 <br />7,554,241 <br />6,046,646 <br />1,507,595 <br />127,593 <br />1,635,188 <br />473,242 <br />353,900 <br />808,046 <br />11,514,073 <br />$ 12,322,119 <br />The accompanying notes to financial statements are an Integral part of these statements., <br />5 <br />