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Craig A. Smith & Associates, Inc. and MPS3D, LLC
<br />Combined Statements of Income
<br />General and Administrative Expenses
<br />Fringe Benefits
<br />December 31,
<br />December 31,
<br />Rent
<br />2015
<br />2014
<br />Revenue
<br />$ 6,809,396
<br />$ 5,432,972
<br />Cost of Revenue
<br />115,054
<br />109,971
<br />Direct Labor
<br />1,843,820
<br />1,515,150
<br />Indirect Labor
<br />1,252,008
<br />1,261,316
<br />Project Consultant Fees
<br />805,292
<br />471,012
<br />Project Costs
<br />85,459
<br />119,431
<br />Total Cost of Revenue
<br />3,986,579
<br />3,366,909
<br />Gross Profit
<br />2,822,817
<br />2,066,063
<br />General and Administrative Expenses
<br />Fringe Benefits
<br />527,149
<br />430,858
<br />Rent
<br />236,063
<br />243,342
<br />Telephone / Utilities Expense
<br />54,534
<br />54,602
<br />Insurance Expense
<br />115,054
<br />109,971
<br />Office Supplies
<br />64,166
<br />56,932
<br />Dues & Subscriptions
<br />9,577
<br />6,697
<br />Travel Expense
<br />58,289
<br />32,737
<br />Business Development
<br />17,572
<br />18,247
<br />Equipment Lease
<br />28,855
<br />33,397
<br />Witten License Fees
<br />17,684
<br />58,336
<br />Education & Seminars
<br />7,518
<br />849
<br />Administration Vehicle Costs
<br />30,791
<br />31,378
<br />Repairs & Maintenance
<br />14,480
<br />8,086
<br />Professional Fees
<br />160,352
<br />142,670
<br />Taxes & Licenses
<br />10,786
<br />11,133
<br />Bad Debts
<br />1,093
<br />350
<br />Field Operations & Supplies
<br />332,463
<br />321,196
<br />Project Costs - Non -Billable
<br />57,068
<br />39,141
<br />Amortization / Depreciation
<br />49,099
<br />52,540
<br />Miscellaneous Expense
<br />2,630
<br />2,798
<br />Total General and Administrative Expenses
<br />1,795,243
<br />1,655,260
<br />Net Profit Before Other Income I Expense
<br />1,027,574
<br />410,803
<br />Interest Income
<br />4,694
<br />4,481
<br />Miscellaneous income (expense)
<br />12,288
<br />(4,240)
<br />Less: Interest Expense
<br />(30,590)
<br />(57,070)
<br />Total Other Income/(Expense) (13,608) (56,829)
<br />Combined Net Profit $ 1,013,966 $ 353,974
<br />See accompanying notes to combined financial statements and accountant's review report
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