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<br />
<br />accountants fst advisors
<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 />2007
<br />
<br />Revenues:
<br />Fees
<br />
<br />$
<br />
<br />5,871,508
<br />5,871,508
<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 1,840,520
<br /> 351,266 465,320
<br /> 211,789 182,810
<br /> 116,059 119,490
<br /> 2,734,027 2,608,140
<br /> 3,421,216 3,263,368
<br /> 2,121,562 2,016,350
<br /> 1,299,654 1,247,018
<br /> 972,712 784,027 !
<br /> i
<br /> 41,881 60,979 I
<br /> i
<br /> 44.770 23,552 i
<br /> 1,059,363 868,558
<br /> I
<br /> I
<br /> 240,291 378,460 I
<br /> I
<br /> (13,307) (20,110) I
<br /> 35,677 30,920 I
<br /> 22,087 29,940 I
<br /> 337,710 I
<br /> 195,834 ,
<br /> I
<br /> I
<br /> I
<br /> 1,609,469 I
<br /> 1,271,759 I
<br /> i
<br /> I
<br /> 185,483 0 I
<br />$ 1,619,820 $ 1,609,469 I
<br />
<br />Gross profit
<br />
<br />General and administrative
<br />
<br />Income before other expenses
<br />
<br />Other expenses:
<br />Officers'salaries
<br />Pension contribution
<br />Administrative services
<br />
<br />Net operating income before interest income
<br />and income tax expense
<br />
<br />Interest income
<br />Interest expense
<br />Income tax expense
<br />
<br />Net income
<br />
<br />Retained earnings - beginning of year
<br />
<br />, Less: Distributions
<br />
<br />Retained earnings - end of year
<br />
<br />See accountanfs review report and notes to financial statements,
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