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Company

Projected Income Statement


Year Ended Dec 31, 2010 Year Ended Dec 31, 2011
Revenues
Internal sales $ 4,028,500.35 $ 4,149,355.36
External Sales 1,010,274.30 1,212,329.16
Total Sales 5,038,774.65 5,361,684.52
COGS
Beginnig Inventory 35,108 36,898.06
Plus: Purchases 484,504.67 516,013.83
COGAFS 519,612.67 552,911.89
Less:Ending Inventory 36,898.06 39,262.51
COGS 482,714.61 513,649.38
Gross Profit $ 4,556,060.04 $ 4,848,035.14
Expenses
Rent $ 72,000.00 $ 72,000.00
Depreciation 153,728.00 181,853.00
Equipment Rental 485,458.00 435,458.00
Fuel 176,357.00 204,372.00
Gen. & Admin 61,913 61,913.00
Insurance 37,286.93 38,676.47
Intercompany Interest 136,368.00 159,993.00
Repairs & Maintenance 75,581.62 100,775.49
Wages & Salaries 3,046,694.18 3,284,619.30
Total Expenses 4,245,386.73 $ 4,539,660.26

Earnings From Operations $ 310,673.31 $ 308,374.88


Other Income 5,320.00 5,320.00
EBIT 315,993.31 313,694.88
Income tax expense 78,998.33 78,423.72
Net Income $ 236,994.98 $ 235,271.16

Company
Retained Earnings
For the Year Ended Dec 31, 2010 2011
Beginnning Retained Earnings -120,885 116,110
Plus: Net Income 236,994.98 235,271.16
Ending Retained Earnings 116,110 351,381
Company
Projected Balance Sheet
As at Dec 31, 2010 As At Dec 31, 2011
Assets
Current Assets
Cash $ 33,136.00 33,136.00
Securities 192,530.00 192,530.00
AR 1,104,388.96 1,395,506.93
Inventory 36,898.06 39,262.51
Prepaid Expenses 10,430.00 10,430.00
Total Current Assets 1,377,383.02 1,670,865.44

Fixed Assets
Construction Machinery 2,086,042.00 2,086,042.00
Office equipment 29,464.00 29,464.00
Construction tools 53,202.00 53,202.00
Accumulated Depreciation 878,657.00 1,060,510.00
Net Fixed Assets 1,290,051.00 1,108,198.00

Total Assets 2,667,434.02 2,779,063.44

Liabilities
Working Capital Loan - 97,525.41 168,915.20
AP 100,219.46 106,737.11
Wages & Salaries Payable 109,930.00 109,930.00
Interest Payable - -
Current Portion LT Debt 340,350.00 340,350.00
Total current Liabilities 452,974.04 725,932.30

LT Liabilities
Intercompany Loan 2,098,350.00 1,701,750.00

Total Liabilities 2,551,324.04 2,427,682.30

Shareholders' Equty
Capital Stock
Retained Earnings 116,109.98 351,381.14
Total Shareholders' equity 116,109.98 351,381.14
Liabilites & Equity 2,667,434.02 2,779,063.44
Seasonality
ec 31, 2011
No effect. Year ending occurs during period of seasonal effect

Sensitivity (AR)

High 103.4 $ 1,427,422.74


Base 80 $ 1,104,388.96
Low 67 $ 924,925.76

WCL After
High 225,508.37
Base -97,525.41
Low -276,988.61

Collateral
AR 0.5 552,194.48
Inventory 0.75 27,673.55
Fixed Assets 0.6 774,030.60
Less: Loan 2,154,600
-800,701.372808219

Coverage
Current Ratio 3.0407548544 2.301682175
Acid Test 2.94 2.23
Interest Cov. 4 4
As At Dec 31, 2011 When negative WCL is added to Cash

130,661.41
192,530
1,395,506.93
39,262.51
10,430
1,768,390.85

2,086,042
29,464
53,202
1,060,510
1,108,198

2,876,588.85

130,315.60
106,737.11
109,930
23,625
340,350

1,814,250

351,381.14
351,381.14
2,876,588.85