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<br />SOUTHEASTERN ENGINEERING CONTRACTORS, INC. <br />STATEMENTS OF INCOME AND RETAINED EARNINGS <br />FOR THE SIX MONTHS ENDED JUNE 30, <br /> 2009 2008 <br />Contract revenues earned $ 10,226,909 $ 7,260,004 <br />Cost of revenues earned 8,400,761 5,804,810 <br />Gross profit 1,826,148 1,455,194 <br />General and administrative expenses 924,294 763.1 89 <br />Income from operations 901,854 692,005 <br />Other income and (expenses) <br />Gain on sale of asset 29,000 <br />Interest income 5,037 9,370 <br />Interest expense (22,205) (59,148) <br />Net Income 913,686 642,227 <br />Retained earnings at the beginning of the year 3,609,540 1,942,427 <br />Dividend distributions (213,300) <br />Retained earnings at the end of the six months $ 4,309,926 $ 2,584,654 <br /> <br />Read Accountants' Review Report <br />The accompanying notes are an integral part of this statement <br />4 <br />