LIST OF ASSUMPTIONS FOR TITLES ON HAND FOR CONSTRUCTION FOR YEAR 2013

Less: Redeemed 112

SALES VOLUME 2012
2013 based on actual
units taken out Balance 132
# OF UNITS SALES Add: Total Redeemed title
Duplex 16 22 6 10,890,000.00
Townhouse 28 36 8 11,296,000.00
Single Attached 10 14 4 9,261,200.00
Single Detached 10 10 0 -
64 82 18 31,447,200.00
DIRECT COST Average
Lot Area Flr. Area No. of Units Cost of Land per sq.m Cost of Construction Total Direct Cost
Duplex 77.00 55 6 1,900,224.48 12,650.00 4,174,500.00 6,074,724.48
Townhouse 60.18 44 8 1,980,134.97 14,300.00 5,033,600.00 7,013,734.97
Single Attached 99.00 62 4 1,628,763.84 13,200.00 3,273,600.00 4,902,363.84
Single Detached 151.10 78 - - 13,750.00 - -
18 -
Cost saleable lots 4,113.04 per sq. 5,509,123.29 12,481,700.00 17,990,823.29
INDIRECT COST
1 PERMIT & LICENSES 3% of direct cost 539,724.70
2 COMMISSION 9% of sales 2,830,248.00
3 ADMINISTRATIVE EXPENSE GAE 3,528,431.50
4 ARCH. AND ENGINEERING COST 2% of direct cost 359,816.47
5 DOCUMENTATION 10,000.00 per account/unit 180,000.00
6 FUNDING COMMITMENT LINE 0.5% of sales 157,236.00
7 SALES & MARKETING EXPENSES 3% of sales 943,416.00
8,538,872.66
URBAN ECO-LIVING DEVELOPMENT CORPORATION
PROJECTED INCOME STATEMENT
As of December 31, 2013
REAL ESTATE SALES 31,447,200.00
Less: COST OF REAL ESTATE SALES
LAND COST 5,509,123.29
COST TO CONTRUCT 12,481,700.00
GROSS PROFIT 13,456,376.71
OPERATING EXPENSES
PERMIT & LICENSES 539,724.70
COMMISSION 2,830,248.00
ADMINISTRATIVE EXPENSE 3,528,431.50
ARCH. AND ENGINEERING COST 359,816.47
DOCUMENTATION 180,000.00
FUNDING COMMITMENT LINE 157,236.00
SALES & MARKETING EXPENSES 943,416.00
8,538,872.66
OPERATING INCOME 4,917,504.04
OTHER INCOME 500,000.00
NET INCOME BEFORE TAX 5,417,504.04
Less: Finance Expense 1,239,726.33
PROVISION FOR INCOME TAX
NET INCOME AFTER TAX 4,177,777.71
Contract Price per Unit Model
Single Detached - reg. unit 2,808,000.00
Single Attached - reg. unit 2,315,300.00
Duplex - reg. unit 1,815,000.00
Duplex - end unit 1,999,500.00
Townhouse - reg. unit 1,412,000.00
Townhouse - end unit 1,590,000.00
Townhouse - corner unit 1,765,500.00