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<br />
<br />DEVELOPMENT COUNSELLORS INTERNATIONAL, LTD.
<br />(AN S CORPORATION)
<br />
<br />STATEMENTS OF INCOME AND RETAINED EARNINGS
<br />
<br />FOR THE YEARS ENDED DECEMBER 31,
<br />
<br />2008
<br />
<br />Revenues:
<br />Fees
<br />
<br />$
<br />
<br />6,155,243
<br />6,155,243
<br />
<br />Direct expenses:
<br />Salaries
<br />Consultants
<br />Payroll taxes
<br />Employee benefits
<br />
<br />2,054,913
<br />351,266
<br />211,789
<br />116,059
<br />2,734,027
<br />
<br />Gross profit
<br />
<br />3,421,216
<br />
<br />General and administrative
<br />
<br />2,121,562
<br />
<br />I ncome before other expenses
<br />
<br />1,299,654
<br />
<br />Other expenses:
<br />Officers' salaries
<br />Pension contribution
<br />Administrative services
<br />
<br />972,712
<br />41,881
<br />44,770
<br />1,059,363
<br />
<br />Net operating income before interest income
<br />and ihcome tax expense 240,291
<br />Interest income (13,307)
<br />Interest expense 35,677
<br />I ncome tax expense 22,087
<br />Net income 195,834
<br />Retained earnings - beginning of year 1,609,469
<br />Less: Distributions 185,483
<br />Retained earnings - end of year $ 1,619,820 $
<br />
<br />See accountant's review report and notes to financial statements.
<br />
<br />2007
<br />
<br />$
<br />
<br />5,871,508
<br />5,871,508
<br />
<br />1,840,520
<br />465,320
<br />182,810
<br />119,490
<br />2,608,140
<br />
<br />3,263,368
<br />
<br />2,016,350
<br />
<br />1,247,018
<br />
<br />784,027
<br />60,979
<br />23,552
<br />868,558
<br />
<br />378,460
<br />
<br />(20,110)
<br />30,920
<br />29,940
<br />
<br />337,710
<br />
<br />1,271,759
<br />
<br />o
<br />
<br />1,609,469
<br />
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