detailed financial analysis provided by seller

Year

2009

2008

2007

Data Source

Annualized/P&L

Tax Return

Tax Return

Income Statement

Revenue

219,585

203,770

27,166

Cost of Goods Sold

89,361

80,830

14,086

Gross Profit

130,224

122,940

13,080

Other Income

360

566

20

Operating Expenses

190,008

216,912

97,273

Pre-Tax Net Profit

(59,424)

(93,406)

(84,173)

Adjustments

Interest

1,557

4,925

2,747

Taxes

Depreciation

54,732

74,254

41,508

Amortization

Owner’s Salary Adjustments

Owner Salary or Compensation

21,000

6,000

Matching FICA Taxes (est.)

2,100

600

Add Backs and Fringe Benefits

Auto

945

2,893

3,307

Phone

168

Discretionary Earnings

$21,078

($4,734)

($36,611)