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Barth Construction, Inc. <br /> STATEMENT OF EARNINGS AND RETAINED EARNINGS <br /> ' (See Accountants' Review Report) <br /> Year ended September 30, 2002 <br /> Revenues $ 11741 ,757 <br /> Cost of revenue 1 ,5639079 <br /> Gross profit 178,678 <br /> Operating expenses <br /> Salaries and wages $ 114,524 <br /> Insurance 99,058 <br /> Profit sharing expense 88,317 <br /> Rent 363543 <br /> Bad debts 22,510 <br /> Depreciation 209337 <br /> Office expense 209012 <br /> Taxes and licenses 199264 <br /> Travel and entertainment 159234 <br /> Telephone and utilities 14,236 <br /> Vehicle expenses 10,294 <br /> Advertising and promotion 99250 <br /> Repairs and maintenance 4, 192 _ <br /> Contributions 3 ,645 <br /> Professional fees 3,528 <br /> Education 22004 <br /> Warranty expenses 1 ,236 <br /> Dues and subscriptions 1 , 154 <br /> Estimating expenses 896 <br /> Bank charges 648 <br /> Safety 543 <br /> Overhead expense reimbursement (323 ,835) 163 ,590 <br /> 1 15 ,088 <br /> Other revenue <br /> Interest and dividends earned 23 ,455 23,455 <br /> Net earnings before income tax 38 ,543 <br /> Income tax expense (benefit) <br /> ' Currently payable 8,945 <br /> Deferred tax benefit (8 ,000) 945 <br /> ' NET .EARNINGS 37,598 <br /> Retained earnings, October 1 , 2001 889,397 <br /> Retained earnings, September 30, 2002 $ 926,995 <br /> The accompanying notes are an integral part of this statement. <br /> - 4 <br />