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Duncan & Baker Construction, LLC

2014 Income Statement & 2015 Budget Statement


For Year Ending December 31, 2014

2014
Revenue
Cost of Sales
Materials
Labor
Equipment
Other Direct Costs
Subcontracts
Total Cost of Sales
Gross Proft

2015

38,745,000 $

45,115,840

$
$
$
$
$
$
$

3,099,600
2,905,875
4,261,950
1,549,800
23,247,000
35,064,225
3,680,775

$
$
$
$
$
$
$

3,609,267
3,383,688
4,962,742
1,804,634
27,069,504
40,829,835
4,286,005

Operating Expenses
Variable Operating Expenses
Advertising Expense
Auto/Truck Expenses
Bad Debt Expense
Communications Expense
Interest Expense
Office Expense
Travel Expense
Unapplied Labor
Unapplied Materials
Taxes
Warranty Expense
Miscellaneous Expense
Total Variable Expenses

$
$
$
$
$
$
$
$
$
$
$
$
$

25,000
179,860
22,350
89,500
74,123
125,000
75,223
19,000
23,000
15,000
39,000
40,000
727,056

$
$
$
$
$
$
$
$
$
$
$
$
$

29,485
180,000
90,500
75,180
145,111
87,592
24,987
29,785
17,000
45,698
47,256
772,594

Fixed Expenses
Payroll Taxes
Salaries
Depreciation Expense
Insurance Expense
Legal and Audit Expense
Contributions
Rent
Shop Supplies and Tools
Repairs/Maintentance Expense
Utilities
Total Fixed Expense

$
$
$
$
$
$
$
$
$
$
$

145,962
845,200
52,000
84,560
22,001
10,000
15,000
73,600
44,000
7,000
1,299,323

$
$
$
$
$
$
$
$
$
$
$

299,238
899,460
69,300
95,360
29,900
30,043
18,500
89,923
65,263
8,500
1,605,487

Total Operating Expense

2,026,379 $

2,378,081

Net Profit

1,654,396 $

1,907,924

Budget
2014

Goal = Increase R.O.I. by 5% (45.4%)


Profit Increases
Total Fixed Items
Marginal Ratio
Revenue 2015
Multiplier (Rev. 15'/Rev. 14')
Net Worth 2015 ( Profit '15/R.O.I.)

11.532
3,513,411
0.0762348432

45,115,840

1.164
4,202,475

2015

Revenue

38,745,000 $

46,086,679

Direct Job Cost

35,064,225 $

41,708,444

Variable OH

727,056 $

864,824

Fixed OH

1,299,323 $

1,545,528

Profit

1,654,396 $

1,967,883

MR
Rev. 2015
Multiplier

0.0762348432 Profit Increase


$

46,086,679 NW 2015
1.18948713227

118.9%
$

4,334,544

2015 Monthly Cash Flow Statement


2014
Nov
$

45,115,840 $

5%
1,937,250 $

Job Costs Expenses


Material
$
Labor
$
Subcontracts
$
Other
$

3,609,267 $
3,383,688 $
27,069,504 $
1,804,634 $

154,980
145,294
1,162,350
77,490

Revenue

Gross Profit
$
4,286,005
Operating Expenses
Fixed
$
Variable
$

1,299,323 $
727,056 $

Net Profit

Ending Cash Balance


Total Profit
$
Quarterly Tax
$

$
$
$
$

Jan

Mar

Apr

May

Jun

July

Aug

Sept

4%
972,880 $

4%
1,804,634 $

6%
2,706,950 $

7%
3,158,109 $

10%
4,511,584 $

11%
4,962,742 $

10%
4,511,584 $

12%
5,413,901 $

10%
4,511,584 $

10%
4,511,584

123,984
116,235
929,880
61,992

144,371
135,348
1,082,780
72,185

216,556
203,021
1,624,170
108,278

252,649
236,858
1,894,865
126,324

360,927
338,369
2,706,950
180,463

397,019
372,206
2,977,645
198,510

360,927
338,369
2,706,950
180,463

433,112
406,043
3,248,340
216,556

360,927
338,369
2,706,950
180,463

360,927
338,369
2,706,950
180,463

$
$
$
$

$
$
$
$

$
$
$
$

$
$
$
$

$
$
$
$

$
$
$
$

$
$
$
$

$
$
$
$

$
$
$
$

Oct
$

$
$
$
$

Nov

Dec

9%
4,060,426 $

7%
3,158,109 $

4%
1,804,634

324,834
304,532
2,436,255
162,417

252,649
236,858
1,894,865
126,324

$
$
$
$

144,371
135,348
1,082,780
72,185

$
$
$
$

184,039 $

147,231 $

171,440 $

257,160 $

300,020 $

428,600 $

471,461 $

428,600 $

514,321 $

428,600 $

428,600 $

385,740 $

300,020 $

171,440

1,605,487 $
772,594 $

108,277
36,353 $

### $
29,082 $

126,081 $
30,904 $

126,081 $
46,356 $

126,081 $
54,082 $

126,081 $
77,259 $

126,081 $
84,985 $

126,081 $
77,259 $

126,081 $
92,711 $

126,081 $
77,259 $

126,081 $
77,259 $

126,081
69,533 $

### $
54,082 $

126,081
30,904

1,907,924

76,317 $

114,475 $

133,555 $

190,792 $

209,872 $

190,792 $

228,951 $

190,792 $

190,792 $

171,713 $

133,555 $

76,317

$
$

710,000 $
1,455,065 $

273,099 $
1,388,757 $

98,122 $
2,255,792 $

560,881 $
2,932,530 $

834,236 $
3,834,846 $

1,779,813 $
4,737,163 $

2,527,562 $
4,737,163 $

3,019,823 $
4,962,742 $

4,129,453 $
4,962,742 $

4,437,661 $
4,511,584 $

5,138,414 $
4,286,005 $

5,746,386
3,609,267

$
$
$
$
$
$
$
$
$

154,980
135,348
1,162,350
77,490
126,081
36,353
209,872
10,507

144,371
236,858
1,082,780
72,185
126,081
30,904
110,360
10,507

216,556
338,369
1,624,170
108,278
126,081
46,356
209,872
10,507

252,649
372,206
1,894,865
126,324
126,081
54,082
73,570
10,507

360,927
338,369
2,706,950
180,463
126,081
77,259
209,872
10,507

397,019
406,043
2,977,645
198,510
126,081
84,985
65,125
10,507

360,927
338,369
2,706,950
180,463
126,081
77,259
73,570
10,507

433,112
338,369
3,248,340
216,556
126,081
92,711
209,872
10,507

360,927
304,532
2,706,950
180,463
126,081
77,259
65,125
10,507

360,927
236,858
2,706,950
180,463
126,081
77,259
###
10,507

$
$
$
$
$
$
$
$
$

324,834
135,348
2,436,255
162,417
126,081
69,533
10,507

5,746,386 $

6,111,692

$
1,907,924
209,872

Feb

Beginning Cash Balance


Revenue (+)
Payments (-)
Material
Labor
Subcontracts
Other
Fixed Op. Expenses
Variable Op. Expenses
Taxes
Notes
Depreciation (+)

2015
Dec

$
$
$
$
$
$
$
$
$

273,099 $

123,984
203,021
929,880
61,992
126,081
29,082
100,200
10,507

$
$
$
$
$
$
$
$
$

98,122 $

$
$
$
$
$
$
$
$
$

560,881 $

$
$
$
$
$
$
$
$
$

834,236 $

$
$
$
$
$
$
$
$
$

1,779,813 $

$
$
$
$
$
$
$
$
$

2,527,562 $

$
$
$
$
$
$
$
$
$

3,019,823 $

$
$
$
$
$
$
$
$
$

4,129,453 $

$
$
$
$
$
$
$
$
$

4,437,661 $

$
$
$
$
$
$
$
$

5,138,414 $

Duncan & Baker Construction, LLC


Income Statement
For Year Ending December 31, 2014
Revenue
Cost of Sales
Materials
Labor
Equipment
Other Direct Costs
Subcontracts
Total Cost of Sales
Gross Proft

38,745,000

$
$
$
$
$
$
$

3,099,600
2,905,875
4,261,950
1,549,800
23,247,000
35,064,225
3,680,775

$
$
$
$
$
$
$
$
$
$
$
$
$

25,000
179,860
22,350
89,500
74,123
152,000
75,223
19,000
23,000
15,000
39,000
40,000
727,056

$
$
$
$
$
$
$
$
$
$
$

145,962
548,200
52,000
84,560
22,001
10,000
15,000
73,600
44,000
7,000
1,299,323

Total Operating Expense

2,026,379

Net Profit

1,654,396

Operating Expenses
Variable Operating Expenses
Advertising Expense
Auto/Truck Expenses
Bad Debt Expense
Communications Expense
Interest Expense
Office Expense
Travel Expense
Unapplied Labor
Unapplied Materials
Taxes
Warranty Expense
Miscellaneous Expense
Total Variable Expenses
Fixed Expenses
Payroll Taxes
Salaries
Depreciation Expense
Insurance Expense
Legal and Audit Expense
Contributions
Rent
Shop Supplies and Tools
Repairs/Maintentance Expense
Utilities
Total Fixed Expense

Duncan & Baker Construction, LLC


Balance Sheet
As of December 31, 2014
Assets:
Current Assets:
Cash
Acounts Receivable
Progress Billings
Current Retention
Material Inventory
Notes receivable
Cost and Estimated Earnings in Excess of Billings
Prepaid Expenses
Other Current Assets
Total Current Assets
Fixed Assets:
Total Fixed Assets
Less: Accumulated Depreciation
Net Fixed Assets
Joint Ventures & Investments
Other Assets
Total Assets

710,000

$
$
$
$
$
$
$
$

2,018,713
201,672
209,000
1,230,000
846,200
112,000
186,200
4,803,785

$
$
$
$
$
$

562,000
273,145
288,855
1,263,000
600,230
7,791,015

$
$
$
$
$
$
$
$

1,359,721
512,312
487,950
256,325
73,247
126,384
126,352
2,942,291

$
$
$
$

250,000
10,000
1,532,864
4,735,155

$
$

2,053,022
1,976,432

Total Net Worth

4,029,454

Total Liabilities and Net Worth

8,764,609

Liabilities:
Current Liabilities
Accounts Payable
Trade
Retention
Notes Payable
Billings in Excess of Costs and Estimated Earnings
Income Tax Payable
Current Materials
Other Current Liabilities
Total Current Liabilities
Long Term Liabilities
Long Term Debt
Deferred Taxes
Other Non-Current Liabilities
Total Liabilities
Net Worth:
Capital Stock
Additional Paid In Stock