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See accompanying notes to the financial statements <br />and independent accountants’ review report. <br />-3- <br />Contract revenues 14,693,367$ <br />Cost of revenues 13,156,890 <br />Gross profit 1,536,477 <br />General and administrative expenses 1,251,155 <br />Operating income 285,322 <br />Other income (expense): <br />Interest and investment income 60,908 <br />Net unrealized gains on marketable equity securities 69,076 <br />Realized losses from early redemptions of short-term investments (1,434) <br />Realized losses from sales of marketable equity securities (3,630) <br />124,920 <br />Net income 410,242 <br />Retained earnings, January 1, 2017 1,726,293 <br />Distributions to stockholders (273,000) <br />Retained earnings, December 31, 2017 1,863,535$ <br />TGSV ENTERPRISES, INC. <br />STATEMENT OF INCOME AND RETAINED EARNINGS <br />YEAR ENDED DECEMBER 31, 2017