Page 102 - Annual Report 2016 - Cover & Divider Pages.indd

P R O F I T

For external reporting purposes, you’ve probably seen or heard of Net Income
in the context of the “bottom line”, which effectively is the amount left in
Retained Earnings. Accordingly, we have included the following analysis to
enable you to see Net Income, as reflected in the financial statements included
in Section 8.

Operating Profit $ 228,204
Non-operating expenses (64,227)

Profit before distributions and taxes $ 163,977

Cash bonuses (223,760)
Contributions to ESOP (92,954) (316,714)

Subtotal $ (152,738)
Net benefit from Section 179D 209,995

Net increase to retained earnings $ 57,258

Profit Before Distributions & Taxes
Percent of Net Revenue
10.7%

6.3% 5.6% 6.0%

1.5%

FYE 12 FYE 13 FYE 14 FYE 15 FYE 16
Profit B-4 Distr/Tax $717,531 $1,389,009 $732,547 $721,410 $163,975

Page 5