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AUDITED FINANCIALSEMNANR &7 GIEERIfd� Merlin Engineering, In elnce Sheet December 31, 2011 � '.; i t � � t 509,453 90 •1 mm i i `" 2191. NW 97 " Avenue ( Dora(, Florida 33172-231.3 1 T: 305.477.7575 1 F: 305.477.7590 1 www,niarlinengineering.(,,am MARU Marlin Engineering, Inc. ENGINEERING Statement of Income And Retained Earnings Revenue - Professional Fees $5,548,097 Cost of Revenue Direct Labor Associate Fees Project Costs Total 10M. I Income From Opprations; Other Income (Expense) Interest Expense Income Before Provision for Taxes Le-gs: Pmviglon for Taxes Deferred In me Tax Expeni Net Ingon3e for Year Retained Earninus I/1/11 i M-1 SkINWOM $1,289,729 278,754 185,919 271,693 238,125 33,886 13,084 7,074 3,686 5,947 9,275 20,362 75,119 3,778 16,743 1,040 22,272 1,082 38,730 1,440 6,510 86,865 10,476 2,734 17,126 2,948 $2,644,997 �WTIY-W �HKSWJ 02. oo 100.0 31.4 13.5 3.3 48.2 51.8 23.2 5.0 3.3 4.9 4.3 0.6 0.2 0.1 OA OA 02 0.5 1.3 0.1 03 0,0 0.5 0.0 07 U 0.1 1.6 0.2 0.0 0.3 0.0 47.6 W -0.6 3.6 1,4) 2.2 2191 NW 97 :11 Avenue I Donal. Florida 33172-2313 1 T: 305.477.7575 1 F: 305,477.7590 1 www.n,iarlineti,cfincei,ing.coi-n Balance Sheet Monday, Februaty 11, 2013 Marlin Engineering, Inc. As of Decern be r 31, 2010 2:28:20 PM 1110M Accts Receivable Clients 1.e98,49855 1120M Reta|negn 1.00 1142M LoanRenekmble - IVID 160,760.4e 1144.00 LoanReoeivoble - RTC 153,000Vn 1150.00 Travel Advances -3.174.90 1155.00 Other Loans &Advances 3�00.00 Subtotal 11,911,48514 1210.00 Unbi|ledSemimos 320.433�76 1220.00 Allowance for Doubtful Accounts -109.258,57 Subtotal 211.101A9 1510M Furniture &Fixtures 49.612.71 1511.00 TaUmhassea - Fumhuna&Fkduem 2.728.06 1e12.00 Tampa - Fumimm&Fi*ures 5.740.43 1520.00 Accumulated Dopmc, Furniture &Fimunas -31.000.48 1530M Equipment 175.123.78 1531.00 Ta||ahaeoee - Equipment 9.878.21 1535.00 Accumulated Depreciation Equipment -181.251.26 1540.00 Computer Equipment &Software 190.376.43 1541.00 Tallahassee Computer Equipment 1.12520 154200 Tampa Computer 8Software -2.557J6 1545,00 Accumulated Depreciation Computer Equip. -114.720D3 1550.00 Automobiles 92.983.60 155500 Acoumu|ooedDepnauiatioo - Autn -88.380,04 1570,00 Leasehold Improvements 2191 Building 42.087J3 1575M Accumulated Amnn+|mpmvements2191 Bldg -26.722.61 1580,00 Leasehold Improvements 2101 Building 37.327.95 1585M Accumulated *mort. Improvements 21O1Bldg -34.82577 Subtotal 127.52413 1710.00 Prepaid Expenses &Deposits 14.281.25 1725.00 Security Deposits 2.050.50 Subtotal 18,93175 1910.00 Robinson CPA wtb reconciliation variance 579A3 Subtotal 57913 Total Assets 2, "T-MKEWL; Balance Sheet As of December 31, 2010 February 11, 2013 - 2:28 PM 2310.00 Salaries & Benefits Accrued 222,996.24 2312.00 vvages/BonuoPaymble 345.901.35 23:0,00 Payroll Taxes Withholding 39.174.08 2340M Employee 4V1<WWithholding 5.139.05 S ubtota/ 603.210.72 2430.00 Shareholder Loan Payable 28.408.89 2461,00 Bank nf The West -8.150.85 2468.00 Dell Financial Services -80160 2488M Trinity Capital Lease #o818Q58-OU2 -27.225.42 2470.00 Trinity Capital Lease #Ox1OO58-003 -4.355.23 2473.00 Trinity Capital Lease #08180o8-On5 -11.842,32 2474.00 Trinity Capital Lease #O81BO58-0O8 -6.689.42 2475.00 Trinity Capital Lease #VB1BOs8-OO7 -17.840.15 2476.00 Trinity Capital Lease #0D18D5D-Vo8 -1 0,880M 2480.00 SunTrust Line ofCredit 600.000.00 Subtotal 540'561.22 2540.00 Deferred Income Taxes Payable 288.807.00 Subtotal 288'907.00 Total Liabilities 1,947,257A3 3OMOO Capital 500M Subtotal 500.00 3110-00 PmvYrs Retained Eemgo 8120.00 Current YmProfiVLoss) PITW�� Total Net Worth EMMM 4210.00 Reimb Consultant Revenue 35,483.47 762,270.76 -30.58% 15.09% 4220.00 Reimb Expense Revenue 336.00 44,545.91 -0.29% 0.88% Subtotal 35,819.47 806,816.67 -30.87% 15.97% Total Revenue -116,017.78 5,051,188.28 100.00% 100.00% I e Expense s 5150.00 Other Consultants 34,855.80 744,614.13 -30.04% 14.74% Subtotal 34,856:80 744,614.13 -30.04% 14.74% 5210,00 Travel & Lodging - 521.60 825.82 0A5% 0.02% 5215.00 Meals 209.00 5,847.62 -0.18% 012% 5290.00 Misc. Reimbursable Expense -17.76 5,452.14 0,02% 0.11% Subtotal -330.36 12,125.58 0.28% 0.24% 5615.00 Direct Auto Gas, Oil, Mileage 234.84 1,223.26 -0.20% 0.02% 5616.00 Direct - Auto Parking & Tolls 14.00 250.05 -0.01% Subtotal 248.84 1,473.31 -0.21% 0.03% Total Reimbursables 34,774.28 758,213.02 -29.97% 15.01% Revenue Less Reimbursables -150,792.06 4,292,975.26 129,97% 84.99% 6010.00 Direct Labor 134,418.92 2,019,013.98 -115.86% 39.97% 6035.00 Direct Contract Labor 4,285.16 14,023.88 -3,69% 0,28% Subtotal 138,704.08 2,033,037.86 -119.55% 40.25% 6210.00 Travel & Lodging 966.40 7,051.09 -0.83% 0.14% 6215,00 Meals 275.42 3,249.08 -0,24% 0.06% 6220.00 Reproductions 860.63 0.02% 6240.00 Direct Telephone Expense 11937 1,503.06 -0,10% 0,03% 6250.00 Postage / Courier / Delivery 873,46 0,02% 6290.00 Misc. Direct Expenses 911.43 52,552.10 -0.79% 1.04% Subtotal 2,272.62 66,089.42 -1.96% 1.311% 6610.00 Direct Vehicle Lease 298.08 13,259.99 -0,26% 0.26% 6615.00 Direct- Auto Gas, Oil, Mileage 14,841,63 118,437.75 -12.79% 2.34% 6616.00 Direct - Parking & Tolls 1,375.03 1,674,03 -1.19% 0.03% 6620.00 Direct - Auto Repair & Maintenance 8427 6,769.34 -0.07% 0.13% 6630A0 Direct - Auto Registration 278.00 0.01% 6635.00 Direct - Auto Insurance 254.00 6,98514 -0.22% 0.14% Subtotal 16,853.01 147,404.25 - 14.53 %® 2,92% v9.1 (Yesse) - Page 1 Income Statement As of December 31, 2010 February 11, 2013 - 2:28 PM Total Direct Expenses 157,82971 2,246,53 .53 -136.04% 4448% Revenue Less Reimb. and Direct -308,62177 2.046.443.73 266.01Y6 48.51% In direc t Expenses Payroll Taxes 24,716.39 7010.00 Indirect Labor 134.00*.67 1,824567.08 -115.50% 3612% 7030.00 Job Cost Variance 134,031.48 172.471.86 -115,53% 3,41% 7035�00 Contract Labor 4�3.00 4,52100 131% -0.03% Subtotal 266�3.15 1,995,515.92 -229�72% 39.51% 721&00 Payroll Taxes 24,716.39 278.154.51 -21.30% n51% 7220.00 Federa|Unemplymom 453.83 28.04816 fl3896 0.56% 7240,00 Workers' Compensation 1.346.00 23.452.00 -1.16% 0,46% Subtotal 28,51U2 329'656.27 -22.06% 6'53`& 7310.00 Health - Dental Insurance 11.895.15 222'48&97 -10D896 4,40% 7320.00 Other Insurance -241.14 18.541e9 0.21% O2196 7350.00 Pension / Profit Sharing 3.544.48 23.23476 -3.06Y6 UA6Y6 7355�08 Executive Annuity Program 142.86 3.000.12 -0�12% 0.0596 7360.00 Education &Seminars 90.00 2.359,00 -0.08Y6 8.05% 7370.00 Professional Registration &Dues 245.00 4.320.00 -021Y6 0.09% Subtotal 15.476.35 285.946.84 '13.34% 5XY6 7405.00 Marketing /Advertising Expense 199�04 8.852.38 -0.17% 02096 7410�00 Rent 19.674.22 228.645.79 -16.96Y6 4.53% 7420�00 Utilities 2.177.65 26.724.34 -1.88% 0.53Y4 7430.00 Office Supplies 805,06 20.231.86 -0.75% 0.40% 7431.00 Small Tools &Equipment 382,80 9.518,07 -0.33Y6 0.19% 7440.00 Telephone 5.495.59 58.621.94 -5.60Y4 1.16% 7450.00 Postage / Ship /Delivery 57629 5.734�76 -0�50% 0.11Y4 7400.00 Equipment Rental 2.545.5e 50.771.62 -2.18Y6 101Y6 7470,00 Repairs 3.14737 0.06Y6 7475,00 Office Maintenance 1.529.81 20.300.30 -1.32% 0.41% 7480.00 Printing & Reproductions 403.14 18.428.36 -0.35Y6 0.38Yf 7490.00 Miscellaneous Expenses -50�00 973�63 8,0*% 0.02% Subtotal 34.799.18 454'655.39 -29.99% 9.00% 7510.00 Legal 82.002,75 123% 7515.00 Consulting Fees -150�00 -150.00 0,13% 7520.00 Accounting/Audit/Tax 12.500,00 025Y6 7525.00 Payroll Service Fees -511.32 25.75&74 0.27% 8�51% 7530.00 Data Processing 20.209,86 55,022.35 -17A2% 1.09% 7535.00 Diving Services 46.267.23 OV% 7540�00 Interest Expense 2.027.03 19.813.93 -175Y6 039% 754200 Late / Finance Charges 930�91 5.779�34 -0,80Y6 0.1196 7545�00 Bank /Service Charges 18.08 2.828.49 -0D2% 005% 7550.00 Professional Liability |nour 3.315.95 48.212.47 -2,80% 0.87% 7551.00 General Liability Insurance 2.735.37 5.917.25 -Z30% 0.12% 7610.00 Auto Lease 10,134,35 125,127.26 -8.74% 2.48% 7615.00 Auto Gas, Oil, Mileage 6,697.50 82,337.29 -5.77% 1.63% 7616.00 Parking & Tolls 3,003.50 18,011.28 -2.59% 0.36% 7620.00 Auto Repair & Maintenance 891.08 17,852.94 -0.77% 0.35% 7630.00 Auto Registration 1,081.70 2,239.55 493% 0.04% 7635.00 Auto Insurance 2,190.88 29,782.45 -1.89% 0.59% 7640.00 Travel & Lodging 1,938.35 13,534.77 -1.67% 0.27% 7645.00 Meals & Entertainment 1,465.17 9,975.34 -1.26% 0.20% 7660.00 Company Functions & Employee We 508.09 5,085.06 -0.44% 0.10% Subtotal 27,910.62 303,945.94 -24.06% 6.02% 7810.00 Contributions -200.00 1,088,00 0.17% 0.02% Subtotal -200A0 1,088.00 0.17% 0.02% Total Indirect Expenses 399,631.48 3,638,880.29 -344.46% 72.04% Total Operating Expenses 592,235.47 6,643,624,84 -510.47% 131.53% Operating ProfittLoss -708,25125 -1,592,436.66 610.47% -311.53% v9.1 (Yesse) - Page 3