detailed financial analysis provided by seller

Year

2009

2008

2007

Data Source

P&L

Tax Return

Tax Return

Income Statement

Revenue

447,409

569,883

1,228,072

Cost of Goods Sold

278,626

367,785

580,494

Gross Profit

168,783

202,098

647,578

Other Income

0

4,377

1,324

Operating Expenses

121,486

347,151

465,305

Pre-Tax Net Profit

47,297

(141,151)

183,597

Adjustments

Interest

1,582

2,457

921

Taxes

Depreciation

13,178

21,196

Amortization

13,999

14,101

Owner’s Salary Adjustments

Owner Salary or Compensation

32,700

57,300

Matching FICA Taxes (est.)

3,270

5,730

Add Backs and Fringe Benefits

Rent Adjustment

(10,000)

(5,000)

18,000

Travel

60

Entertainment

370

Discretionary Earnings

$39,308

($80,547)

$300,845