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<br />METRO EQUIPMENT SERVICE, INC. <br /> <br />STATEMENT OF INCOME AND RETAINED EARNINGS <br /> <br />SIX MONTHS ENDED JUNE 30, 2007 <br /> <br />Contract revenues $ 15,979,389 <br />Contract costs 13,246,585 <br />Gross profit 2,732,804 <br />General and administrative expenses 530,476 <br />Operating income 2.202,328 <br />Other income (expense): <br />Interest and investment income 1-9;487 <br />Interest expense (I 8,750) <br /> 737 .1 <br />Net income 2,203,065 <br />Retained earnings, January 1,2007 5,203,056 <br />Distributions to stockholder (I J 82,879) <br />Retained earnings, June 30, 2007 $ 6.223.242 <br /> <br />See accompanying notes to the financial statements <br />and accountant's review report. <br />-4- <br /> <br />~.' <br />J1.t <br /> <br />- <br />