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Timothy Rose Contracting, Inc. <br /> Statement of Income and Retained Earnings <br /> June 30 , 2006 <br /> Revenue: <br /> Construction revenue $ 518541158 <br /> Costs of Sales: <br /> Materials & supplies 1 ,5301208 <br /> Wages 773, 877 <br /> Contract services 1 , 134, 532 <br /> Total cost of sales 3 ,438,617 <br /> r Gross Profit 2 ,4151541 <br /> Operating expenses: <br /> Depreciation expense 172,575 <br /> Telephone 12, 566 <br /> Repairs & maintenance 265 ,987 <br /> Insurance & bonding 124,589 <br /> Officer salary 49, 000 <br /> ! Taxes & licenses 85,392 <br /> Vehicle expenses 1971305 <br /> Equipment rental 231 , 142 <br /> Sanitation 122, 361 <br /> Gifts & entertainment 11838 <br />` Legal & accounting 22,625 <br /> Office supplies & expenses 14,009 <br /> Shop supplies 10,567 <br />■ Travel 94809 <br /> Utilities 21475 <br /> Total operating expenses 1 ,322,241 <br /> r � <br /> I Income from operations 11093, 300 <br /> Other income and (expense) <br /> r Interest and dividend income 753 <br /> Child support process fee 518 <br /> Miscellaneous income 2 ,000 <br /> Gain (loss) on sale of asset 68,479 <br /> interest expense (11 ,891 ) <br /> I <br /> Other (expense) - net 59 ,860 <br />■ I <br /> Net income 11153, 160 <br /> I Retained earnings, beginning 937, 937 <br /> Dividends paid <br />■ I <br /> Retained earnings, ending 2,0811298 <br /> I <br /> I <br /> See accompanying accountant's compilation report <br /> i <br /> I <br /> I <br />