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<br />C DEVELOPMENT COUNSELLORS INTERNATIONAL, LTO,
<br />. (AN S CORPORATION)
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<br />accountants &: advisorsSTATEMENTS OF OPERATIONS AND RETAINED EARNINGS
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<br />FOR THE YEARS ENDED DECEMBER 31,
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<br />2009
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<br />Revenues:
<br />Fees
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<br />$
<br />
<br />4,961,942
<br />4,961,942
<br />
<br />Direct expenses:
<br />Salaries
<br />Consultants
<br />Payroll taxes
<br />Employee benefits
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<br />1 ,764,723
<br />325,458
<br />150,518
<br />1 06,243
<br />2.346,942
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<br />2,615,000
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<br />Gross profit
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<br />General and administrative
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<br />1,773,387
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<br />Income before other expenses
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<br />841,614
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<br />Other expenses:
<br />Officers' salaries
<br />Pension contribution
<br />Administrative services
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<br />814,129
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<br />26,553
<br />840,682
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<br />Net operating income before interest income
<br />and income tax expense
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<br />932
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<br />Interest income
<br />Interest expense
<br />Income tax (recovery) expense
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<br />(5,032)
<br />54,963
<br />~13,744)
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<br />(35,255)
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<br />Net (loss) income
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<br />Retained earnings - beginning of year
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<br />1,619.820
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<br />Less: Distributions
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<br />Retained earnings - end of year
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<br />$
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<br />1.584,565 $
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<br />See accountant's report and notes to financial statements.
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<br />2008
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<br />$
<br />
<br />6,155,243
<br />6,155,243
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<br />2,054,913
<br />351,266
<br />211,789
<br />116,059
<br />2,734,027
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<br />3,421,216
<br />
<br />2,121.562
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<br />1,299,654
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<br />972,712
<br />41,881
<br />44,770
<br />1,059,363
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<br />240,291
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<br />(13,307)
<br />35.677
<br />22,087
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<br />195,834
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<br />1,609,469
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<br />185,483
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<br />1,619,820
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