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Craig A. Smith & Associates, Inc. and MPS3D, LLC
<br />Combined Statements of Income
<br />December 31, December 31,
<br />Revenue 2014 2013
<br />Labor Revenue $ 5,432,972 $ 3,378,285
<br />Total Revenue 5,432,972 3,378,285
<br />Cost of Revenue
<br />Direct Labor
<br />1,515,150
<br />1,008,379
<br />Indirect Labor
<br />1,261,316
<br />1,275,682
<br />Project Consultant Fees
<br />471,012
<br />147,735
<br />Project Costs
<br />119,431
<br />31,293
<br />Total Cost of Revenue
<br />3,366,909
<br />2,463,089
<br />Gross Profit
<br />2,066,063
<br />915,196
<br />General and Administrative Expenses
<br />Fringe Benefits
<br />430,858
<br />382,644
<br />Rent
<br />243,342
<br />250,644
<br />Telephone / Utilities Expense
<br />54,602
<br />50,696
<br />Insurance Expense
<br />109,971
<br />107,050
<br />Office Supplies
<br />56,932
<br />47,574
<br />Dues & Subscriptions
<br />6,697
<br />14,334
<br />Travel Expense
<br />32,737
<br />23,195
<br />Business Development
<br />18,247
<br />17,325
<br />Marketing
<br />-
<br />-
<br />Equipment Lease
<br />33,397
<br />41,169
<br />License Fees
<br />58,336
<br />39,163
<br />Education & Seminars
<br />849
<br />8,260
<br />Automobile Expense
<br />31,378
<br />38,462
<br />Repairs & Maintenance
<br />8,086
<br />3,568
<br />Professional Fees
<br />142,670
<br />155,564
<br />Taxes & Licenses
<br />11,133
<br />10,665
<br />Bad Debts
<br />350
<br />13,000
<br />Field Operations & Supplies
<br />321,196
<br />171,471
<br />Project Costs - Non -Billable
<br />39,141
<br />2,963
<br />Amortization / Depreciation
<br />52,540
<br />49,223
<br />Miscellaneous Expense
<br />2,798
<br />2,253
<br />Total General and Administrative Expenses
<br />1,655,260
<br />1,429,223
<br />Net Profit (Loss) Before Other Income / Expense
<br />410,803
<br />(514,027)
<br />Interest Income
<br />4,481
<br />6,259
<br />Miscellaneous Income
<br />(4,240)
<br />26,531
<br />Less: Interest Expense
<br />(57,070)
<br />(53,481)
<br />Total Other Income / (Expense)
<br />(56,829)
<br />(20,691)
<br />Combined Net Profit / (Loss)
<br />$ 353,974
<br />$ (534,718)
<br />See accompanying notes to combined financial statements and accountant's review report
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