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					                                                                                 YOUR LOGGING COMPANY
                                                                                 STATEMENT OF INCOME & EXPENSES

                                                              HISTORIC DATA 2005 - 2007                  PROJECTIONS 2008 - 2010

INCOME                                                                   2005       2006         2007       2008      2009       2010

Gross Sales                                                             78,879     119,325     231,619     183,000   201,300    221,430
Other Income                                                                           505         485         500       550        605




Total Sales                                                             78,879     119,830     232,104     183,500   201,850    222,035

Cost of Goods Sold                                                       8,435      50,499     122,317      96,990   106,689    117,358

TOTAL GROSS INCOME                                                     70,444     69,331     109,787       86,510    95,161    104,677


EXPENSES

Advertising                                                                  0           0         171       1,700       200        210
Car & Truck Expense                                                      3,911       6,252       1,851       7,020     7,371      7,740
Contract Labor                                                               0           0           0           0         0          0
Depreciation                                                            35,488      28,162      37,550      10,000    10,000     10,000
Insurance                                                                9,347       3,986       4,017       4,100     4,305      4,520
Mortgage Interest                                                        3,481           0       2,166       3,938     4,135      4,342
Other Interest                                                             613           0           0           0         0          0
Legal & Professional                                                     1,435         700         220         300       315        331
Office Expense                                                               0       1,386         800           0         0          0
Rent or Lease of Vehicle, Machinery & Equipment                              0           0           0           0         0          0
Rent or Lease of Business Property                                           0           0           0           0         0          0
Repairs & Maintenance                                                   12,906      30,985      18,984      25,000    26,250     27,563
Supplies                                                                     0           0       2,662       2,000     2,100      2,205
Travel, Meals & Conference                                                   0           0           0           0         0          0
Taxes & Licenses                                                         1,976         828          46       1,000     1,050      1,103
Utilities                                                                    0           0           0           0         0          0
Wages                                                                   20,363       6,044           0           0         0          0
Off-Road Fuel                                                            5,084       5,188       4,806      15,000    15,750     16,538
Trucking                                                                 2,080       3,528      28,349       3,500     3,675      3,859
Education & Dues                                                           186                     112         150       158        165

TOTAL EXPENSES                                                         96,870     87,059     101,734       73,708    75,308     78,574

NET PROFIT                                                             -26,426    -17728         8053      12,802    19,853     26,103

All historic data is taken from Schedule C for 2005, 2006, and 2007.

2008 Projections are based on the following assumptions:

Production of $30 per cord.
Production of board feet @ $135 per thousand board feet.
COGS assumes 53% (same as 2007)
Advertising assumes development and launch of a website.
Car & Truck Expense assumes 12,000 business miles @ .585 per mile.
Mortgage Interest assumes an average balance outstanding on Equity Line of Credit of $75,000 @ 5.25%.

2009 Projections are based on the following assumptions:

10% increase in Gross Sales.
5% increase in Expenses.

2010 Projections are based on the following assumptions:

10% increase in Gross Sales.
5% increase in Expenses.
                   YOUR LOGGING COMPANY
                    STATEMENT OF CASH FLOW
                                                  PROJECTIONS 2008 - 2010

                                                        2008        2009       2010

BEGINNING CASH                                       $75,000      $87,802   $107,655

INCOME
Gross Sales                                          183,000      201,300    221,430
Other Income                                             500          550        605


Total Sales                                          183,500      201,850    222,035

Cost of Goods Sold                                    96,990      106,689    117,358

TOTAL GROSS INCOME                                    86,510       95,161    104,677

Cash After Income                                    161,510      182,963    212,332

EXPENSES
Advertising                                            1,700          200        210
Car & Truck Expense                                    7,020        7,371      7,740
Contract Labor                                             0            0          0
Depreciation                                          10,000       10,000     10,000
Insurance                                              4,100        4,305      4,520
Mortgage Interest                                      3,938        4,135      4,342
Other Interest                                             0            0          0
Legal & Professional                                     300          315        331
Office Expense                                             0            0          0
Rent or Lease of Vehicle, Machinery & Equipment            0            0          0
Rent or Lease of Business Property                         0            0          0
Repairs & Maintenance                                 25,000       26,250     27,563
Supplies                                               2,000        2,100      2,205
Travel, Meals & Conference                                 0            0          0
Taxes & Licenses                                       1,000        1,050      1,103
Utilities                                                  0            0          0
Wages                                                      0            0          0
Off-Road Fuel                                         15,000       15,750     16,538
Trucking                                               3,500        3,675      3,859
Education & Dues                                         150          158        165

TOTAL EXPENSES                                        73,708       75,308     78,574

Cash After Expenses                                   87,802      107,655    133,758

Additional injection of capital by Owner                   0           0          0
Funds Borrowed                                             0           0          0

Principle Repayment of Debt                           10,716       10,716     10,716
Allocation for Income Taxes                            4,481        6,948      9,136
Additional Capital Equipment Purchases                     0            0          0
Owner's Draw                                          36,000       36,000     36,000

Add back in Depreciation                              10,000       10,000     10,000

ENDING CASH                                          $46,605      $63,990    $87,906

				
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