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Craig A. Smith & Associates, Inc. and MPS3D, LLC
<br />Combined Statements of Income
<br />December 31, December 31,
<br />2016 2015
<br />Revenue $ 6,124,986 $ 6,809,396
<br />Total Revenue 6,124,986 6,809,396
<br />Cost of Revenue:
<br />Direct Labor
<br />1,887,460
<br />1,843,820
<br />Indirect Labor
<br />1,223,453
<br />1,252,008
<br />Project Consultant Fees
<br />478,148
<br />805,292
<br />Project Costs
<br />54,406
<br />85,459
<br />Total Cost of Revenue
<br />3,643,467
<br />3,986,579
<br />Gross Profit
<br />2,481,519
<br />2,822,817
<br />General and Administrative Expenses:
<br />Fringe Benefits
<br />480,728
<br />527,149
<br />Rent
<br />242,667
<br />236,063
<br />Telephone / Utilities Expense
<br />53,549
<br />54,534
<br />Insurance Expense
<br />114,913
<br />115,054
<br />Office Supplies
<br />70,632
<br />64,186
<br />Dues & Subscriptions
<br />10,502
<br />9,577
<br />Travel Expense
<br />34,517
<br />58,289
<br />Business Development
<br />65,486
<br />17,572
<br />Equipment Lease
<br />30,008
<br />28,855
<br />Witten License Fees
<br />133
<br />17,684
<br />Education & Seminars
<br />2,587
<br />7,518
<br />Administration Vehicle Cost
<br />33,788
<br />30,791
<br />Repairs & Maintenance
<br />5,802
<br />14,480
<br />Professional Fees
<br />158,349
<br />160,352
<br />Taxes & Licenses
<br />11,825
<br />10,786
<br />Bad Debts
<br />3,558
<br />1,093
<br />Field Operations & Supplies
<br />338,599
<br />332,463
<br />Project Costs - Non -Billable
<br />130,408
<br />57,068
<br />Amortization / Depreciation
<br />51,280
<br />49,099
<br />Miscellaneous Expense
<br />3,299
<br />2,630
<br />Total General and Administrative Expenses
<br />1,842,630
<br />1,795,243
<br />Net Profit Before Other Income (Expense)
<br />638,889
<br />1,027,574
<br />Interest Income
<br />3,848
<br />4,694
<br />Miscellaneous Income
<br />50
<br />12,288
<br />Interest Expense
<br />(9,362)
<br />(30,590)
<br />Total Other Expense
<br />(5,464)
<br />(13,608)
<br />Combined Net Profit
<br />$ 633,425
<br />$ 1,013,966
<br />See accompanying notes to combined financial statements and
<br />accountant's review report
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