6/30/2006 6/30/2005 6/30/2004 6/30/2003 6/30/2002 Hi s tori c Pretax Income 1,489,000 $ 1,309,000 $ 786,000 $ 685,000 $ Adjustments Officer Compens ta ti on 34,000 $ 7,000 $ (17,000) $ (45,000) $ 2 Rent (18,000) $ (25,000) $ (32,000) $ (39,000) $ 3 Payroll Taxes Truck/Equi pment/Auto Expens 12,000 $ 12,000 $ 12,000 $ 12,000 $ 12,000 $ 5 Insurance Pension Profit Sharing Adjusted Pretax Income 1,508,680 $ 1,292,140 $ 735,660 $ 597,100 $ Income Taxes Normalized Net Income 1,016,184 $ 905,208 $ 775,284 $ 441,396 $ 358,260 $ Memo: Period Revenues 6,489,000 $ 5,755,000 $ 4,156,000 $ 3,529,000 $
Page 74 of 141 ended June 30, 2006 were $7,250,000. Accordingly, RMA statistics relating to those asset and sale attributes were used in developing comparable statistics for purposes of analyzing the financial statements. Common size financial statements (balance sheet components expressed as a percent of assets and Income statement components expressed as a percent of sales) are developed so that the valuator can compare and contrast the subject interest) to industry guidelines based on similar size attributes such as sales and assets. Based on the normalized financial statements, a full set of common size financial statements were prepared and are discussed below
