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CERES ENVIRONMENTAL SERVICES, INC. <br /> STATEMENT OF OPERATIONS <br /> For the Year Ended December 31, 2016 <br /> REVENUES <br /> Contract revenues $ 99,647,841 <br /> Mulch sales, snow removal, and equipment rental revenues 3.540.189 <br /> Total Revenues 103.188,030 <br /> COSTS OF REVENUES <br /> Costs of revenues 89,761,067 <br /> Provision for loss on uncompleted contracts 477,145 <br /> Total Costs of Revenues 90,238,212 <br /> Gross Profit 12,949,818 <br /> GENERAL AND ADMINISTRATIVE EXPENSES 7.111,784 <br /> Operating Income 5,838.034 <br /> OTHER INCOME (EXPENSE) <br /> Interest income 32,558 <br /> Interest expense (1,021,504) <br /> Other income 436.099 <br /> Total Other Expense (552,847) <br /> NET INCOME $ 5,285,187 <br /> See accompanying notes to financial statements. <br /> Page 4 <br /> CONFIDENTIAL& PROPRIETARY <br />