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LEFT HAND DITCH COMPANY
<br />STATEMENTS OF INCOME AND RETAINED EARNINGS
<br />REVENUE
<br />OPERATING EXPENSES
<br />Salaries and wages
<br />Payroll taxes
<br />Subtotal
<br />Depreciation expense
<br />Water purchased
<br />Repairs and maintenance
<br />Contract labor
<br />Amortization expense
<br />Employee benefits - health insurance
<br />Insurance expense
<br />Consulting expense
<br />Rent expense
<br />Auto expense
<br />Legal fees
<br />Accounting and auditing fees
<br />Office supplies and expense
<br />Directors' fees
<br />Telephone expense
<br />Meeting expense
<br />Computer expense
<br />Total operating expenses
<br />OPERATING INCOME (LOSS)
<br />OTHER INCOME (EXPENSE)
<br />Lease income (Note 4)
<br />Interest income
<br />Transfer fees
<br />Miscellaneous income
<br />Interest expense
<br />Net other income (expense)
<br />NET INCOME (LOSS) FOR YEAR
<br />RETAINED EARNINGS, Beginning of year
<br />RETAINED EARNINGS, End of year
<br />Years ended December 31,
<br />2011 2010
<br />$ 318,079 $ 290,171
<br />66,533
<br />6,489
<br />73,022
<br />37,737
<br />32,874
<br />23,743
<br />16,080
<br />15,133
<br />12,953
<br />9,912
<br />9,780
<br />9,000
<br />5,777
<br />5,650
<br />5,181
<br />4,042
<br />3,600
<br />3,094
<br />2,549
<br />1,500
<br />271,627
<br />46,452
<br />22,000
<br />4,250
<br />2,252
<br />8
<br />(18,451)
<br />10,059
<br />56,511
<br />951,738
<br />$ 1,008,249
<br />70,620
<br />6,671
<br />77,291
<br />38,080
<br />25,235
<br />39,088
<br />15,133
<br />10,339
<br />7,480
<br />11,866
<br />9,000
<br />5,835
<br />9,594
<br />4,077
<br />3,662
<br />3,600
<br />2,584
<br />2,420
<br />2,615
<br />267,899
<br />22,272
<br />22,000
<br />4,224
<br />2,220
<br />2,043
<br />(19,101)
<br />11,386
<br />33,658
<br />918,080
<br />$ 951,738
<br />See accompanying notes and independent accountants' review report. Page 3
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