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<br />TENEX ENTERPRISES, INC. <br />STATEMENT OF OPERATIONS <br />FOR THE YEAR ENDED DECEMBER 31, 2009 <br /> <br />Contract Revenues earned: $ 10,295,429 <br />Cost of Revenues earned: <br />Materials 4,106,229 <br />Subcontractors 3,150,335 <br />Labor service 1,387,715 <br />Equipment rental 298,520 <br />Depreciation 101,446 <br />Vehicle expenses 76,420 <br />Bond expense 173,953 <br />Fuel 142,084 <br />Cost of Revenues earned 9,436,702 <br />Gross Profit 858,727 <br />General & Administrative expenses: <br />Salary-Officer 70,618 <br />Insurance 205,377 <br />Office expense 41,685 <br />Office Payroll 142,812 <br />Payroll taxes 17,102 <br />Professional fees 55,216 <br />Rent 79,965 <br />Taxes & licenses 19,734 <br />Telephone 20,452 <br />Utilities 24,096 <br />Total General and Administrative Expenses $ 677,057 <br />Income from Operations $ 181,670 <br />Other Income (Expense): <br />Bad debt expense (83,922) <br />Interest income 9,333 <br />Interest expense (14,608) <br />Total Other Income (Expense) (89,197) <br />Income Before Income Taxes 92,473 <br />Income taxes <br />Current 5,592 <br />Deferred 20,300 <br /> 25,892 <br />Net Income $ 66,581 <br /> <br />See accompanying notes to [mancial statements <br />