Ocean View

OCEANVIEW MARINE COMPANY Balance Sheet December 31, 2012

ASSETS Current Assets Cash Accounts receivable: net (Notes 2 and 5) Inventories (Notes 1(a), 3, and 5) Prepaid expenses Deposits Total Current Assets Property, Plant, and Equipment (Notes 1(b) and 4) At cost, less accumulated depreciation TOTAL ASSETS LIABILITIES Current Liabilities Note payable -- Bank (Note 5) Accounts payable Accrued liabilities Federal income taxes payable Current portion of long-term debt (Note 6) Total Current Liabilities Long-term Liabilities Long-term debt (Note 6) TOTAL LIABILITIES STOCKHOLDERS’ EQUITY Common stock (Note 7) Additional paid-in capital Retained earnings Total Stockholders’ Equity TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 2012 $1,320,096 1,615,613 13,524,349 17,720 7,916 16,485,694 634,688 $17,120,382

1-1 TH 2/26/2013 PBC

2011 $1,089,978 1,285,593 12,356,400 15,826 5,484 14,753,281 612,480 $15,365,761 2010 $1,200,347 1,180,982 11,461,231 15,275 4,329 13,862,164 627,771 $14,489,935

$5,100,000 1,791,252 257,800 35,284 5,642 7,189,978 409,824 7,599,802

$4,250,000 1,403,247 217,003 45,990 5,642 5,921,882 415,466 6,337,348

$4,000,000 1,106,574 211,250 39,725 5,642 5,363,191 421,108 5,784,299

10,000 2,500,000 7,010,580 9,520,580 $17,120,382

10,000 2,500,000 6,518,413 9,028,413 $15,365,761

10,000 2,500,000 6,195,636 8,705,636 $14,489,935

The accompanying notes form an integral part of these

financial statements

Current file 1 - audit planning

OCEANVIEW MARINE COMPANY Statement of Income and Retained Earnings December 31, 2012

2012 $26,458,037 37,674 26,420,363 19,133,299 7,287,064

1-2 TH 2/26/2013 PBC

2011 $22,889,060 27,740 22,861,320 16,530,114 6,331,206 2010 $20,950,521 28,753 20,921,768 15,176,410 5,745,358

Sales Sales returns and allowances Net sales Cost of sales Gross profit EXPENSES Accounting and auditing Advertising Depreciation Bad debts Business publications Cleaning services Fuel Garbage collection Insurance Interest...