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<br />SOUTHEASTERN ENGINEERING CONTRACTORS, INC. <br />STATEMENTS OF INCOME AND RETAINED EARNINGS <br />FOR THE YEARS ENDED DECEMBER 31, <br /> <br /> 2008 2007 <br /> . >,"'. f\ V:~:~\~- <br />Contract revenues earned ;~':'.\kd, i':!" ct. $ 16,808,536 S 15.218,536 <br />'~,_):~ \.~ ~_:t_ ~'\ # ~ c.~ orp.\ <br /> '-~" 'I' i:J\.HVO.- <br />Cost of revenues earned :'::C;f o\5C\J5~\0.' I 13,462,757 12,885,434 <br />Gross profit 3.345,779 2,333,102 <br />General and administrativc cxpcnses 1,664,482 1,603,319 <br />Incomc from operations 1,681,297 729,783 <br />Other income and (expenses) <br />Intcrest income 12,808 18,893 <br />Interest cxpcnse (89,843) (]34,919) <br />Gain on sale of equipment 62,852 ]6,000 <br /> (14,183) (100.026) <br />Net Income 1,667,1 ]4 629,757 <br />Retained earnings at the beginning of the year 1,942,427 ] ,312,670 <br />Retained eamings at the end of the year $ 3,609,541 $ ] ,942.427 <br /> <br />'O)~:~~~~:;,e 00\' <br /> <br />. '\c..c\.\s.- . <br />C\ .~ <br />'(-(.x - . <br /> <br />The accompanying notes arc an integral part of this statemcnt <br /> <br />L3 <br />