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<br />SHORELINE FOUNDATION. INC. <br /> <br />STATErvlENT OF INCOME AND RETAINED EARNINGS <br />FOR TIlE YEAR ENDED DECEl\IBER 31. 2009 <br /> <br />REVENUES <br /> <br />Contract revenues canted <br /> <br />S 27.274.!O(, <br /> <br />COSTS AND EXPENSES <br /> <br />COSl of reVellues earned <br />Depreciation <br />I nlereSl <br />General and administrative <br /> <br />20.122,226 <br />1.IS.70(i <br />1.74B <br />~)(lk.6(,5 <br /> <br />Total <br /> <br />25,447.:'45 <br /> <br />INCOME FRO~l OPERATIONS <br />INTEREST AND OTIIER INCOI\I1: <br /> <br />1.826.761 <br /> <br />6.536 <br /> <br />INe01\IE BEFORE INCOME TAXES <br />PIWVISIOK FOR INCOME TAXES <br /> <br />1.8:\3,297 <br /> <br />(l <br /> <br />NET INC01\iE <br />RETAINED EARNINGS-UKi\UDlTI:D, January 1,2009 <br /> <br />I.S33,2Y7 <br /> <br />7,'112.60] <br /> <br />Less: Distribucions 10 Slod;hoJders <br /> <br />1579,40S) <br /> <br />RETAINED EARNINGS, Decembl~r 31. 2009 <br /> <br />$; 8.666.492 <br />===--::w~;m.~~ <br /> <br />See Accompanying Notes i111d Independenl Auditors' Report <br />