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<br />BUDGET CONSTRUCTION CO., INC. AND BUDGET HOLDINGS, LLC <br />COMBINED STATEMENTS OF INCOME <br /> <br />Years Ended December 3 1, <br />2008 2007 <br /> <br />Revenues: <br />Contract revenues earned <br /> <br />$ 21,190,909 <br /> <br />$ 20,778,80 I <br /> <br />Cost of revenues: <br /> <br />Cost of revenues earned <br /> <br />17,464,735 15,224,591 <br />3,726,174 5,554,210 <br />586,798 2,822,857 <br />3,139,376 2,731,353 <br />1,975,978 1,649,484 <br />1,163,398 1,081,869 <br /> <br />Gross profit before indirect costs <br /> <br />Indirect costs not allocated to contracts (Note - 12) <br /> <br />Gross profit on contracts <br /> <br />General and administrative expenses <br /> <br />Income from operations <br /> <br />Other income (expenses): <br />Interest income <br />Gain on sale of equipment <br />Bad debt expense <br />Interest expense (Note - 13) <br /> <br /> 26,372 30,774 <br /> 78,622 22,116 <br /> (551,864) (141,500) <br /> (316,166) (299,882) <br /> (763,036) (388,492) <br />$ 400,362 $ 693,377 <br /> <br />Total other expenses <br /> <br />Net income <br /> <br />The accompanying notes are an integral part <br />of the combined financial statements. <br /> <br />3 <br /> <br />Benitez & Company, CPA's <br />