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INCOME STATEMENTS

TOTAL SALES
OTHER REVENUES:
INTEREST INCOME
MISCELLANEOUS
TOTAL OTHER REVENUES

2009
$32,886,109

$34,202
$171,553
$205,755

Historical
2010
$33,497,044

$57,467
$280,239
$337,706

TOTAL REVENUES
LESS: COST OF GOODS SOLD
GROSS PROFIT
GROSS PROFIT MARGIN (%)

$33,091,864
$16,447,863
$16,644,001
50.3%

$33,834,750
$18,024,814
$15,809,936
46.7%

GEN. & ADM. EXPENSE


BAD DEBT
SALARIES
ADVERTISING & PROMOTION
COMMISSIONS & ROYALTIES/FEES
OFFICE SUPPLIES
RESEARCH & DEVELOPMENT
RENTALS
UTILITIES
INSURANCE
PROFESSIONAL FEES
TAXES
TRAVEL & VEHICLE
PENSION & PROFIT SHARING
DEPRECIATION
AMORTIZATION
MANUFACTURING EXPENSE
MISCELLANEOUS
TOTAL GEN. & ADM. EXPENSE

$181,597
$3,476,930
$21,884
$57,591
$120,040
$314,028
$277,346
$337,996
$201,873
$355,078
$153,814
$365,000
$198,183
$1,083,409
$3,573
$6,487,781
$1,309,202
$14,945,325

$95,577
$3,675,427
$50,465
$48,377
$128,194
$267,134
$731,583
$288,720
$356,195
$715,343
$106,208
$342,989
$127,601
$933,128
$164,356
$7,059,185
$728,991
$15,819,474

OPERATING INCOME
OPERATING MARGIN (%)
EXTRAORDINARY INCOME (EXPENSE)

$1,698,676
5.1%
$0

($9,538)
0.0%
($457,975)

INCOME AFTER EXTRAORDINARY ITEMS

$1,698,676

INTEREST EXPENSE
PRE-TAX INCOME
PRE-TAX MARGIN (%)

$992,783
$705,893
2.1%

TAXES

$193,889

NET INCOME AFTER TAXES


AFTER-TAX MARGIN (%)

$512,004
1.5%

($467,513)
$886,447
($1,353,960)
-4.0%
$477,938
($1,831,898)
-5.4%

DEPRECIATION & AMORTIZATION

$1,086,982

$1,097,483

EBITDA
MARGIN (%)

$2,785,658
8.4%

$1,087,945
3.2%

2009

2010

BALANCE SHEETS
DESCRIPTION
CURRENT ASSETS:
CASH
ACCOUNTS RECEIVABLE
INVENTORY
PREPAID EXPENSES
DEFERRED TAXES
OTHER CURRENT ASSETS
TOTAL CURRENT ASSETS
DEPOSITS
NOTES RECEIVABLE
GROSS FIXED ASSETS
(ACCUM. DEPRECIATION)

2008
$737,747
$5,289,701
$5,083,700
$186,037
$346,735
$828,208
$12,472,128

$274,996
$3,370,451
$5,293,306
$117,506
$375,000
$781,647
$10,212,906

$0
$4,567,295
$2,215,248
$253,161
$0
$262,876
$7,298,580

$245,405

$336,894

$444,384

$0

$16,294

$888,007

$7,233,474
($3,541,017)

$11,088,479
($5,549,385)

$9,680,382
($5,175,286)

NET FIXED ASSETS


GOODWILL & ORGANIZAT'L
(ACCUM. AMORTIZATION)
NET GOODWILL & ORGAN'L
TOTAL ASSETS

$3,692,457
$164,889
$0
$164,889

$5,539,094
$240,353
($3,573)
$236,780

$4,505,096
$10,756,790
($141,643)
$10,615,147

$16,574,879

$16,341,968

$23,751,214

CURRENT LIABILITIES:
ACCOUNTS PAYABLE
ACCRUED INCOME/OTHER TAX
ACCRUED EXPENSES
REVOLVING DEBT
ACCRUED EMPLOYEE EXPENSE
OTHER CURRENT LIABILITIES
CURRENT PORTION L-T DEBT
TOTAL CURRENT LIABILITIES

$2,650,422
$89,411
$1,216,823
$0
$300,000
$246,732
$1,736,294
$6,239,682

$2,108,658
$119,818
$416,915
$0
$41,783
$17,894
$3,714,344
$6,419,412

$2,339,772
$310,099
$612,396
$1,538,628
$322,407
$67,894
$937,134
$6,128,330

LONG TERM LIABILITIES:


LONG TERM DEBT
DEFERRED TAXES
TOTAL L-T LIABILITIES

$4,723,702
$66,405
$4,790,107

$4,426,519
($656,368)
$3,770,151

$3,485,019
($120,289)
$3,364,730

PREFERRED STOCK
DIVIDENDS IN ARREARS
STOCKHOLDERS' EQUITY
RETAINED EARNINGS
TOTAL EQUITY
TOTAL LIABILITIES & EQUITY
ASSETS - LIAB. & EQ.

STATEMENTS OF CASH FLOW

$0
$0

$0
$0

$81,164
$5,463,926
$5,545,090

$176,475
$5,975,930
$6,152,405

$16,574,879

$16,341,968

$0

$0

$14,250,000
$0
$41,000
($32,845)
$8,155
$23,751,214
($0)

2009

2010

FROM OPERATIONS:
NET INCOME
DEPRECIATION & AMORTIZATION
NON-CASH CURRENT ASSETS
CURRENT LIABILITIES
TOTAL FROM OPERATIONS

$512,004
$1,086,982
$1,796,471
($1,311,265)
$2,084,192

($1,831,898)
$1,097,483
$2,639,330
$616,876
$2,521,791

FROM INVESTING ACTIVITIES:


DEPOSITS
NOTES RECEIVABLE
GOODWILL & ORGANIZAT'L
GROSS FIXED ASSETS
TOTAL FROM INVESTING ACTIVITIES

($91,489)
($16,294)
($2,930,046)
($75,464)
($3,113,293)

($107,490)
($871,713)
$100,870
($10,516,437)
($11,394,769)

FROM FINANCING ACTIVITIES:


REVOLVING DEBT
ACCRUED EMPLOYEE EXPENSE
OTHER CURRENT LIABILITIES
CURRENT PORTION L-T DEBT
LONG TERM DEBT
DEFERRED TAXES
OPTIONAL CATEGORY 10
PREFERRED STOCK
DIVIDENDS IN ARREARS
STOCKHOLDERS' EQUITY
DIVIDENDS
TOTAL FROM FINANCING ACTIVITIES

$0
($258,217)
($228,838)
$1,978,050
($297,183)
($722,773)
$0
$0
$0
$95,311
($0)
$566,350

$1,538,628
$280,624
$50,000
($2,777,210)
($941,500)
$536,079
$0
$14,250,000
$0
($135,475)
($4,203,163)
$8,597,983

TOTAL CHANGE IN CASH

($462,751)

($274,996)

PLUS: BEGINNING CASH


ENDING CASH BALANCE

$737,747
$274,996

$274,996
$0

CASH FROM BALANCE SHEET

$274,996

$0

FINANCING PAYMENT SCHEDULES


LOAN NO.:
Description:
Interest Rate
Original Principal Amount
Current Principal Balance
Date of Current Balance
Final Payment Due Date

#1
Seller Note
8.00%
$3,850,000
$3,144,033
12/31/2012
11/30/2017
Beg. Balance
Payment
Interest
Principal Pymt.
Ending Balance

LOAN NO.:
Description:
Interest Rate
Original Principal Amount
Current Principal Balance
Date of Current Balance
Final Payment Due Date

2014
$2,433,094
$936,769
$166,823
$769,947
$1,663,147

2013
$1,334,391
$530,524
$116,603
$413,921
$920,470

2014
$920,470
$530,524
$72,553
$457,971
$462,499

#2
Capital Expenditure
10.16%
$1,738,000
$1,334,391
12/31/2012
11/30/2016
Beg. Balance
Payment
Interest
Principal Pymt.
Ending Balance

PREFERRED STOCK #1
Description:

2013
$3,144,033
$936,769
$225,830
$710,939
$2,433,094

Series/Type

Interest Rate
Original Principal Amount (Input)
Current Principal Balance
Date of Current Balance
Final Payment Due Date

0.00%
$14,250,000
$11,400,000
12/31/2012
11/30/2016
Beg. Balance
Payment
Dividend
Principal
End. Balance

2013
$11,400,000
$2,850,000
$0
$2,850,000
$8,550,000

2014
$8,550,000
$2,850,000
$0
$2,850,000
$5,700,000

Historical
2011
$49,732,345

$76,780
$200,000
$276,780

2012
$54,705,579

$0
$237,724
$237,724

2013
$60,176,137

Projected
2014
2015
$66,193,751
$72,813,126

2016
$77,181,913

$0
$261,496.86

$0
$287,646.55

$0
$335,395.88

$0
$316,411.20

$50,009,125
$24,335,337
$25,673,788
51.3%

$54,943,304
$60,437,634
$66,481,397
$73,129,537
$77,517,309
$26,768,871 $29,445,757.87 $32,390,333.65 $35,629,367.02 $37,767,129.04
$28,174,433
$30,991,876
$34,091,064
$37,500,170
$39,750,180
51.3%
51.3%
51.3%
51.3%
51.3%

$189,668
$4,136,820
$194,467
$24,600
$148,729
$90,821
$896,638
$322,194
$695,952
$283,704
$117,288
$489,585
$45,960
$1,505,209
$38,676
$9,166,897
$942,941
$19,290,149

$0
$4,136,820
$197,752
$0
$148,729
$90,821
$896,638
$322,194
$695,952
$306,480
$117,288
$489,585
$45,960
$1,693,055
$717,119
$9,166,897
$1,071,698
$20,096,988

$6,383,638
12.8%
$200,000

$8,077,445
14.7%
$0

$0
$4,550,502
$217,527
$0
$163,602
$99,903
$986,302
$354,413
$765,547
$337,128
$129,017
$538,543
$50,556.00
$1,138,714
$668,496
$10,083,587
$1,178,868
$21,262,706
$9,729,171
14.7%
$0

$0
$5,005,552
$239,280
$0
$179,962
$109,894
$1,084,932
$389,855
$842,102
$370,841
$141,918
$592,397
$55,611.60
$1,252,585
$735,346
$11,091,946
$1,296,754
$23,388,976

$0
$5,506,107
$263,208
$0
$197,958
$120,883
$1,193,425
$428,840
$926,312
$407,925
$156,110
$651,637
$61,172.76
$1,377,844
$808,881
$12,201,141
$1,426,430
$25,727,874

$0
$5,836,473
$279,001
$0
$209,836
$128,136
$1,265,030
$454,571
$981,891
$432,401
$165,477
$690,735
$64,843.13
$1,515,628
$889,769
$12,933,209
$1,512,016
$27,359,015

$10,702,088
14.7%

$11,772,296
14.7%

$12,391,165
14.7%

$0

$0

$0

$6,583,638

$8,077,445

$9,729,171

$10,702,088

$11,772,296

$12,391,165

$684,345
$5,899,294
11.8%

$436,731
$7,640,713
13.9%

$375,814
$9,353,357
13.9%

$410,010
$10,292,078

$447,735
$11,324,561

$489,330
$11,901,835

$2,309,703

$2,433,085

$3,277,376.81

$3,606,157.51

$3,789,982.71

$3,589,590
7.2%

$5,207,629
9.5%

$6,374,903
9.5%

$7,014,701
9.5%

$7,718,404
9.5%

$8,111,852
9.5%

$1,543,885

$2,410,174

$1,807,210

$1,987,931

$2,186,724

$2,405,397

$7,927,523
15.9%

$10,487,619
19.2%

$11,536,381
19.1%

$12,690,019
19.1%

$13,959,020
19.1%

$14,796,562
19.1%

2011

2012

2013

2014

2015

2016

$2,978,453.31

$1,424,527
$5,750,259
$2,614,444
$253,161
$0
$273,111
$10,315,502

$2,721,329
$6,421,451
$3,986,147
$253,161
$0
$273,111
$13,655,199

$2,993,462
$7,063,597
$4,384,762
$278,477
$0
$300,423
$15,020,719

$3,292,808
$7,769,956
$4,823,238
$306,325
$0
$330,465
$16,522,791

$3,622,088
$8,546,952
$5,305,562
$336,957
$0
$363,511
$18,175,070

$3,839,414
$9,059,769
$5,623,895
$357,175
$0
$385,322
$19,265,575

$444,384

$444,384

$444,384

$444,384

$444,384

$444,384

$658,651

$658,651

$658,651

$658,651

$658,651

$658,651

$11,851,382
($6,680,495)

$11,851,382
($8,373,550)

$5,170,887

$3,477,832

$3,825,615

$4,208,177

$4,628,995

$4,906,734

$10,756,790
($180,318)
$10,576,472

$10,756,790
($897,438)
$9,859,352

$10,845,288

$11,929,816

$13,122,798

$13,910,166

$27,165,895

$28,095,419

$30,794,658

$33,763,820

$37,029,898

$39,185,510

$2,553,598
$1,066,125
$612,396
$0
$322,407
$67,894
$1,321,976
$5,944,397

$1,839,991
$1,077,556
$612,396
$0
$322,407
$67,894
$1,124,860
$5,045,104

$2,023,990
$1,185,312
$673,636
$0
$322,407
$67,894
$1,196,999
$5,470,237

$2,226,389
$1,303,843
$740,999
$0
$322,407
$67,894
$1,277,667
$5,939,199

$2,449,028
$1,434,227
$815,099
$0
$322,407
$67,894
$1,367,558
$6,456,214

$2,595,970
$1,520,281
$864,005
$0
$322,407
$67,894
$1,412,758
$6,783,314

$3,882,377
($120,289)
$3,762,088

$3,353,564 $3,688,920.11 $4,057,812.12 $4,463,593.33 $4,731,408.93


($120,289)
($120,289)
($120,289)
($120,289)
($120,289)
$3,233,275
$3,568,631
$3,937,523
$4,343,304
$4,611,120

$14,250,000
$157,884

$11,400,000
$157,884

$11,400,000
$157,884

$11,400,000
$157,884

$11,400,000
$157,884

$11,400,000
$157,884

$41,000
$3,010,528
$3,051,528

$41,000
$8,218,157
$8,259,157

$41,000
$10,156,905
$21,755,789

$41,000
$12,288,214
$23,887,098

$41,000
$14,631,496
$26,230,380

$41,000
$16,192,192
$27,791,076

$27,165,896

$28,095,420

$30,794,658

$33,763,820

$37,029,898

$39,185,510

$0

$0

$0

$0

($1)

($1)

2011

2012

$3,589,590
$1,543,885
($1,592,395)
$969,853
$4,510,934

$5,207,629
$2,410,174
($2,042,896)
($702,177)
$4,872,730

$0
$229,356
($2,171,000)
$0
($1,941,644)

$0
$0
$0
$0
$0

($1,538,628)
$0
$0
$384,842
$397,358
$0
$0
$0
$157,884
$0
($546,217)
($1,144,762)

$0
$0
$0
($197,116)
($528,813)
$0
$0
($2,850,000)
$0
$0
$0
($3,575,928)

$1,424,527

$1,296,801

$0
$1,424,527

$1,424,527
$2,721,329

$1,424,527

$2,721,329

2013

2014

2015

2016

2015
$1,663,147
$936,769
$102,917
$833,852
$829,295

2016
$829,295
$862,974
$33,680
$829,295
($0)

2015
$462,499
$486,314
$23,815
$462,499
($0)

2016
($0)
$0
$0
$0
($0)

2015
$5,700,000
$2,850,000
$0
$2,850,000
$2,850,000

2016
$2,850,000
$2,850,000
$0
$2,850,000
$0

INCOME STATEMENTS

TOTAL SALES
OTHER REVENUES:
INTEREST INCOME
MISCELLANEOUS
TOTAL OTHER REVENUES
TOTAL REVENUES
LESS: COST OF GOODS SOLD
GROSS PROFIT
GROSS PROFIT MARGIN (%)
GEN. & ADM. EXPENSE
BAD DEBT
SALARIES
ADVERTISING & PROMOTION
COMMISSIONS & ROYALTIES/FEES
OFFICE SUPPLIES
RENTALS
UTILITIES
INSURANCE
PROFESSIONAL FEES
TAXES
TRAVEL & VEHICLE
DEPRECIATION
AMORTIZATION
MANUFACTURING EXPENSE
MISCELLANEOUS
TOTAL GEN. & ADM. EXPENSE
OPERATING INCOME
OPERATING MARGIN (%)
EXTRAORDINARY INCOME (EXPENSE)
INCOME AFTER EXTRAORDINARY ITEMS

2009
$11,011,549

$0
$3,489
$3,489

Historical
2010
$14,108,695

$0
$0
$0

$11,015,038
$9,108,667
$1,906,371
17.3%

$14,108,695
$10,219,260
$3,889,434
27.6%

$6,000
$892,883
$1,713
$519,213
$26,157
$140,082
$113,503
$75,205
$0
$70,910
$0
$557,124
$14,373
$29,181
$548,382
$2,994,726

$5,500
$1,029,698
$48
$730,161
$48,965
$186,465
$123,553
$50,041
$351,891
$31,420
$139,959
$557,575
$30,815
$163,287
$42,081
$3,491,459

($1,088,355)
-9.9%

$397,975
2.8%

($368,750)

$2,216,955

($1,457,105)

$2,614,930

INTEREST EXPENSE
PRE-TAX INCOME
PRE-TAX MARGIN (%)

$587,417
($2,044,522)
-18.6%

TAXES

($900)

NET INCOME AFTER TAXES


AFTER-TAX MARGIN (%)

($2,043,622)
-18.6%

DEPRECIATION & AMORTIZATION


EBITDA
MARGIN (%)

$290,735
$2,324,195
16.5%
$0
$2,324,195
16.5%

$571,496

$588,390

($516,859)
-4.7%

$986,366
7.0%

2009

2010

BALANCE SHEETS
DESCRIPTION
CURRENT ASSETS:
CASH
ACCOUNTS RECEIVABLE
INVENTORY
PREPAID EXPENSES
TOTAL CURRENT ASSETS
DEFERRED FINANCE CHARGE
OTHER ASSETS
GROSS FIXED ASSETS
(ACCUM. DEPRECIATION)
NET FIXED ASSETS
GOODWILL & ORGANIZAT'L
(ACCUM. AMORTIZATION)
NET GOODWILL & ORGAN'L

2008
$0
$1,785,000
$5,686,000
$42,000
$7,513,000

$208,000
$1,502,000
$5,655,000
$86,000
$7,451,000

$356,000
$2,446,000
$3,723,000
$101,000
$6,626,000

$33,000

$11,000

$0

$364,000

$0

$75,500

$5,254,000
($3,513,000)
$1,741,000
$0
$0
$0

$5,319,000
($4,069,000)
$1,250,000
$0
$0
$0

$5,497,000
($4,626,000)
$871,000
$0
$0
$0

TOTAL ASSETS

$9,651,000

$8,712,000

$7,572,500

CURRENT LIABILITIES:
ACCOUNTS PAYABLE
ACCRUED INCOME/OTHER TAX
ACCRUED EXPENSES
REVOLVING DEBT
CURRENT PORTION L-T DEBT
TOTAL CURRENT LIABILITIES

$1,657,000
$0
$389,000
$3,881,000
$340,000
$6,267,000

$1,510,000
$0
$634,418
$4,119,000
$397,000
$6,660,418

$1,545,000
$0
$833,000
$1,688,000
$150,000
$4,216,000

LONG TERM LIABILITIES:


LONG TERM DEBT
TOTAL L-T LIABILITIES

$1,427,000
$1,427,000

$1,497,582
$1,497,582

$837,500
$837,500

PREFERRED STOCK

$1,109,000

$1,309,000

$1,988,000

STOCKHOLDERS' EQUITY
RETAINED EARNINGS
TOTAL EQUITY
TOTAL LIABILITIES & EQUITY
ASSETS - LIAB. & EQ.

$830,000
$18,000
$848,000

$830,000
($1,585,000)
($755,000)

$707,000
($176,000)
$531,000

$9,651,000

$8,712,000

$7,572,500

$0

$0

$0

2009

2010

STATEMENTS OF CASH FLOW


FROM OPERATIONS:
NET INCOME
DEPRECIATION & AMORTIZATION
NON-CASH CURRENT ASSETS
CURRENT LIABILITIES
TOTAL FROM OPERATIONS

($1,693,820)
$571,496
$270,000
$98,418
($753,905)

$2,324,195
$588,390
$973,000
$233,582
$4,119,167

FROM INVESTING ACTIVITIES:


DEFERRED FINANCE CHARGE
OTHER ASSETS
GOODWILL & ORGANIZAT'L
GROSS FIXED ASSETS
TOTAL FROM INVESTING ACTIVITIES

$22,000
$364,000
($66,124)
$0
$319,876

FROM FINANCING ACTIVITIES:


REVOLVING DEBT
CURRENT PORTION L-T DEBT
LONG TERM DEBT
PREFERRED STOCK
STOCKHOLDERS' EQUITY
DIVIDENDS/AMORTIZATION EXP. ADJUSTMENT
TOTAL FROM FINANCING ACTIVITIES

$238,000
$57,000
$70,582
$200,000
$0
$76,448
$642,030

TOTAL CHANGE IN CASH

$208,001

$147,999

PLUS: BEGINNING CASH


ENDING CASH BALANCE

$0
$208,001

$208,000
$355,999

CASH FROM BALANCE SHEET

$208,000

$356,000

2013
$462,624
$163,822

2014
$352,537
$163,822

$11,000
($75,500)
($178,575)
$0
($243,075)

($2,431,000)
($247,000)
($660,082)
$679,000
($123,000)
($946,011)
($3,728,093)

FINANCING PAYMENT SCHEDULES


LOAN NO.:
Description:
Interest Rate
Original Principal Amount
Current Principal Balance
Date of Current Balance
Final Payment Due Date

#1
Restructuring
13.00%
$600,000
$462,624
12/31/2012
3/31/2016
Beg. Balance
Payment

Interest
Principal Pymt.
Ending Balance

PREFERRED STOCK #1
Description:
Interest Rate
Original Principal Amount
Current Principal Balance
Date of Current Balance
Final Payment Due Date

$53,735
$110,087
$352,537

$38,539
$125,283
$227,254

2013
$1,590,400
$397,600
$0
$397,600
$1,192,800

2014
$1,192,800
$397,600
$0
$397,600
$795,200

Series/Type
0.00%
$1,988,000
$1,590,400
12/31/2012
12/31/2016
Beg. Balance
Payment
Dividend
Principal
End. Balance

Historical
2011
$14,517,014

$0
$0
$0

2012
$15,968,716

$0
$0
$0

2013
$17,884,962

$0
$0
$0

Projected
2014
2015
$20,031,157
$22,034,273

$0
$0
$0

$0
$0
$0

2016
$23,135,986

$0
$0
$0

$14,517,014
$10,835,186
$3,681,828
25.4%

$15,968,716
$11,918,704
$4,050,011
25.4%

$17,884,962
$13,348,949
$4,536,013
25.4%

$20,031,157
$14,950,823
$5,080,334
25.4%

$22,034,273
$16,445,905
$5,588,368
25.4%

$23,135,986
$17,268,200
$5,867,786
25.4%

$653
$1,379,313
$15,563
$833,652
$42,204
$160,419
$135,331
$46,537
$379,628
$37,424
$156,987
$557,388
$37,133
$200,490
$37,230
$4,019,953

$0
$1,420,692
$16,033
$0
$43,471
$165,231
$139,391
$47,934
$391,017
$38,547
$161,696
$618,222
$0
$222,120
$38,347
$3,302,702

$0
$1,591,176
$17,957.45
$0
$48,687
$185,059
$156,118
$53,686
$437,939
$43,173
$181,100
$696,177
$0
$248,775
$42,949
$3,702,795

$0
$1,782,117
$20,112.35
$0
$54,530
$207,266
$174,852
$60,128
$490,492
$48,354
$202,832
$779,718
$0
$278,628
$48,103
$4,147,130

$0
$1,960,328
$22,123.58
$0
$59,982
$227,993
$192,337
$66,141
$539,541
$53,189
$223,115
$727,737
$0
$306,491
$52,913
$4,431,890

$0
$2,058,345
$23,229.76
$0
$62,982
$239,392
$201,954
$69,448
$566,518
$55,848
$234,271
$400,255
$0
$321,815
$55,558
$4,289,616

$1,156,478
5.2%

$1,578,170
6.8%

($338,124)
-2.3%
$0
($338,124)

$747,309
4.7%

$833,218
4.7%

$933,204
4.7%

$0

$0

$0

$0

$0

$747,309

$833,218

$933,204

$1,156,478

$1,578,170

$168,110
($506,234)
-3.5%
$0

$334,673
$412,637
2.6%
$233,927

$374,833
$458,385
2.6%
$259,861.65

$419,813
$513,391
2.6%
$291,045.05

$461,795
$694,683
3.2%
$393,820.85

$484,884
$1,093,286
4.7%
$619,791.53

($506,234)
-3.5%

$178,710
1.1%

$198,523
1.1%

$222,346
1.1%

$300,862
1.4%

$473,494
2.0%

$594,521

$618,222

$696,177

$779,718

$727,737

$400,255

$256,397
1.8%

$1,365,531
8.6%

$1,529,395
8.6%

$1,712,923
8.6%

$1,884,215
8.6%

$1,978,425
8.6%

2011

2012

2013

2014

2015

2016

$306,004
$2,258,017
$4,086,600
$83,000
$6,733,621

$708,919
$2,680,112
$4,086,600
$83,000
$7,558,631

$793,989.62
$3,001,725.16
$4,576,992
$92,960
$8,465,667

$889,268.38
$3,361,932.18
$5,126,231
$104,115
$9,481,547

$978,195.21
$3,698,125.40
$5,638,854
$114,527
$10,429,701

$1,027,104.97
$3,883,031.67
$5,920,797
$120,253
$10,951,187

$0

$0

$0

$0

$0

$0

$96,500

$96,500

$96,500

$96,500

$96,500

$96,500

$5,564,000
($5,183,252)
$380,748

$5,564,000
($5,801,474)
($237,474)

$6,231,680
($6,497,651)
($265,971)

$6,979,482
($7,277,370)
($297,888)

$7,677,430
($8,005,107)
($327,677)

$8,061,301
($8,405,362)
($344,061)

$0
($21,700)
($21,700)

$0
($21,700)
($21,700)

$0
($21,700)
($21,700)

$0
($21,700)
($21,700)

$0
($21,700)
($21,700)

$0
($21,700)
($21,700)

$7,189,168

$7,395,957

$8,274,495

$9,258,459

$10,176,825

$10,681,926

$1,003,428
$0
$668,000
$2,665,212
$219,144
$4,555,784

$1,702,226
$42,759
$668,000
$2,665,212
$110,087
$5,188,284

$1,906,493
$47,890
$748,160
$2,985,037
$123,298
$5,810,878

$2,135,272
$53,637
$837,939
$3,343,242
$138,094
$6,508,183

$2,348,799
$59,000
$921,733
$3,677,566
$151,903
$7,159,002

$2,466,239
$61,950
$967,820
$3,861,444
$159,498
$7,516,952

$559,358
$559,358

$352,536
$352,536

$394,841
$394,841

$442,221
$442,221

$486,444
$486,444

$510,766
$510,766

$1,988,000

$1,590,400

$1,590,400

$1,590,400

$1,590,400

$1,590,400

$707,000
$10,654
$717,654

$707,000
$233,979
$940,979

$707,000
$356,808
$1,063,808

$707,000
($620,974)
$86,026

$707,000
($442,264)
$264,736

$707,000
($228,623)
$478,377

$7,189,168

$7,395,957

$8,274,495

$9,258,459

$10,176,825

$10,681,926

$0

$0

$0

$0

$0

$0

$311,516

$707,474

($209,979)

($6,277)

2011

2012

2013

2014

2015

2016

($506,234)
$594,521
($157,617)
($706,572)
($775,902)

$178,710
$618,222
($422,095)
$741,557
$1,116,394

$198,523
$696,177
($821,965)
$289,558
$362,293

$222,346
$779,718
($920,601)
$324,305
$405,768

$300,862
$727,737
($859,228)
$302,685
$472,056

$473,494
$400,255
($472,575)
$166,477
$567,651

$0
($21,000)
($67,136)
$0
($88,136)

$0
$0
$0
$0
$0

$0
$0
$0
($667,680)
($667,680)

$0
$0
$0
($747,802)
($747,802)

$0
$0
$0
($697,948)
($697,948)

$0
$0
$0
($383,871)
($383,871)

$977,212
$69,144
($278,142)
$0
$0
$45,846
$814,060

$0
($109,056)
($206,822)
($397,600)
$0
$0
($713,479)

$319,825
$13,210
$42,304
$0
$0
$0
$375,340

$358,204
$14,796
$47,381
$0
$0
$0
$420,381

$334,324
$13,809
$44,222
$0
$0
$0
$392,356

$183,878
$7,595
$24,322
$0
$0
$0
$215,796

($49,978)

$402,916

$69,953

$78,348

$166,464

$399,575

$356,000
$306,022

$306,004
$708,919

$708,919
$778,872

$778,872
$857,220

$857,220
$1,023,684

$1,023,684
$1,423,259

$306,004

$708,919

$793,990

$889,268
$32,048

2015
$227,254
$234,274

2016
$0
$0

$978,195
($45,489)

$1,027,105
($396,154)

$7,021
$227,253
$0

2015
$795,200
$397,600
$0
$397,600
$397,600

$0
$0
$0

2016
$397,600
$397,600
$0
$397,600
($0)