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® T.F.R. ENTERPRISES, INC AND SUBSIDIARIES <br /> CONSOLIDATED STATEMENTS OF INCOME <br /> For the years ended December 31,2017 and 2016 <br /> 2017 2016 <br /> REVENUES <br /> Service contracts S 31.162.962 S 22.725.496 <br /> Cost of contracts 19.657.971 14,703.934 <br /> GROSS MARGIN 11,504,991 8.021,562 <br /> OPERATING EXPENSES <br /> General and administrative 3.872.197 2.555.653 <br /> INCOME FROM OPERATIONS 7,632.794 5.463909 <br /> OTHER INCOME (EXPENSE) <br /> Interest income - 77.380 <br /> Interest expense (329.525) (377,411) <br /> Miscellaneous income 36,766 27.350 <br /> Miscellaneous expense (18.234) (58) <br /> Gain on insurance proceeds 65.477 - <br /> ® Loss on sale of investements - (357,719) <br /> Loss on theft - (1,747,950) <br /> Gain on disposal of assets - 145.784 <br /> (245.516) (2.232.624) <br /> INCOME BEFORE TAXES 7,387,278 3,233.285 <br /> PROVISION FOR INCOME TAXES <br /> Federal 958,893 <br /> Federal deferred expense 1.632.177 1,080.709 <br /> State 235.269 9.835 <br /> 2.826.339 1,090.544 <br /> NET INCOME 4.560,939 2,142.741 <br /> Net income attributable to noncontrolline interest 1.703 1.599 <br /> NET INCOME ATTRIBUTABLE TO <br /> CONTROLLING INTEREST $ 4.559.236 S 2.141.142 <br /> See notes to consolidated financial statements <br /> 5 <br />