8

RMS PORTVIEW SEAFOOD RESTAURANT S/B

Income Statement
For the Seven Months Ending July 31, 2008

Current Month JUNE 08 Year to Date

Revenues
CASH SALES 54,466.35 49.06 42,681.87 48.53 328,811.69 47.93
SALES - FOOD - - - - - -
SALES - BEVERAGES - - - - - -
CREDIT SALES 56,272.04 50.68 44,289.69 50.36 355,904.75 51.88
INTEREST INCOME - BANK DEP - - - - - -
ICE CREAM - - - - - -
OTHER INCOME FRM OTHER SOURCES - - - - - -
OTHER INCOME 290.00 0.26 980.00 1.11 1,317.00 0.19
INSURANCE CLAIM - - - - - -

Total Revenues 111,028.39 100.00 87,951.56 100.00 686,033.44 100.00

Cost of Sales
COST OF GOODS SOLD 845.62 0.76 1,451.75 1.65 8,521.32 1.24
PURCHASES 30,807.95 27.75 23,023.51 26.18 192,707.17 28.09
PURCHASES - CAKES/PASTRIES 715.76 0.64 712.32 0.81 3,772.35 0.55
PURCHASES - ICE CREAM 172.10 0.16 165.70 0.19 7,060.17 1.03
SALES DISCOUNTS - - - - - -
PURCHASE DISCOUNTS - - - - - -
OTHER DIRECT COST 410.00 0.37 66.60 0.08 479.40 0.07

Total Cost of Sales 32,951.43 29.68 25,419.88 28.90 212,540.41 30.98

Gross Profit 78,076.96 70.32 62,531.68 71.10 473,493.03 69.02

Expenses
ADMIN EXPENSE (SHARE OF EXP) - - - - - -
ADVERTISING FEES 705.87 0.64 1,088.60 1.24 4,354.51 0.63
BOOKKEEPING - - - - - -
BANK CHARGES - - 107.80 0.12 833.80 0.12
BANK INTEREST - - 244.00 0.28 1,194.47 0.17

08/27/2008 at 08:38:03 Page: 1

 8
RMS PORTVIEW SEAFOOD RESTAURANT S/B
Income Statement
For the Seven Months Ending July 31, 2008

CASH SHORT/(OVER) (7.67) (0.01) (0.05) - (166.51) (0.02)

CLEANING & MAINTENANCE 675.94 0.61 787.25 0.90 5,949.70 0.87
CREDIT CARD CHARGES 552.73 0.50 402.39 0.46 3,370.11 0.49
COMPUTER EXP 660.00 0.59 - - 985.24 0.14
DISCOUNT - - - - - -
DONATION & SPONSORSHIP - - 150.00 0.17 794.00 0.12
DEPRECIATION - - - - - -
DIRECTOR'S FEE - - - - - -
ENTERTAINTMENT EXP - - - - 31.90 -
FREIGHT & HANDLING CHARGES - - - - 1,558.54 0.23
GAS 1,125.00 1.01 1,092.20 1.24 8,932.00 1.30
HP INTEREST - - - - - -
INCOME TAXES - - - - - -
INSURANCE 607.75 0.55 - - 5,674.95 0.83
KITCHEN SUPPLIES - - - - 4.20 -
KITCHEN UTENSILS 295.30 0.27 - - 606.90 0.09
LOAN INTEREST EXP - - 312.63 0.36 4,651.58 0.68
MANAGEMENT FEE - - - - - -
MEDICAL EXPS 76.40 0.07 35.00 0.04 488.20 0.07
MISCELLANEOUS 1,140.07 1.03 925.23 1.05 7,454.01 1.09
MISCELLANEOUS - ICE CREAM - - - - 99.36 0.01
MOTORVEHICLE EXP 396.00 0.36 1,875.80 2.13 5,114.05 0.75
PETROL & PARKING FEE 767.20 0.69 1,038.70 1.18 7,849.95 1.14
POSTAGE & COURIER - - 16.60 0.02 91.60 0.01
PRINTING EXPENSE 15.00 0.01 - - 817.00 0.12
PROFESSIONAL FEE - - - - 260.00 0.04
RECRUITMENT EXP 238.00 0.21 202.50 0.23 624.40 0.09
RENTAL - ICE CREAM MACHINE 300.00 0.27 300.00 0.34 2,100.00 0.31
RENTAL - OFFICE 750.00 0.68 750.00 0.85 5,250.00 0.77
RENTAL - RESTAURANT 8,500.00 - 8,500.00 9.66 51,000.00 7.43
RENTAL - STAFFHOUSE 1,450.00 1.31 4,175.00 4.75 12,750.00 1.86
RENTAL - STOCKROOM - - - - - -
RENTAL - SIGNAGE - - - - - -
REPAIR & MAINTENANCE 430.86 0.39 1,372.00 1.56 6,416.96 0.94

08/27/2008 at 08:38:03 Page: 2

 8
RMS PORTVIEW SEAFOOD RESTAURANT S/B
Income Statement
For the Seven Months Ending July 31, 2008

SALARIES 19,284.83 17.37 20,531.00 23.34 138,171.08 20.14

SALARIES - ICE CREAM 385.83 0.35 439.84 0.50 3,016.29 0.44
SALARIES - OFFICE 12,318.59 11.09 8,783.06 9.99 62,634.14 9.13
SALES INCENTIVE / TIPS 2,483.01 2.24 737.14 0.84 14,017.69 2.04
STAFF FOOD 921.95 0.83 823.65 0.94 6,089.00 0.89
STATIONERY 552.30 0.50 525.50 0.60 3,379.13 0.49
SUBSCRIPTION FEE 50.80 0.05 384.67 0.44 804.60 0.12
SUPPLIES 5.80 0.01 - - 28.90 -
TAP EXPENSES - - 134.00 0.15 670.00 0.10
TAXES & LICENSES - - - - - -
TELEPHONE & FAX 2,448.04 2.20 1,241.99 1.41 10,128.87 1.48
TRAVELLING EXPENSE - - 1,664.00 1.89 4,338.68 0.63
UNIFORM - - - - - -
WATER & ELECTRICITY 2,911.20 2.62 3,396.34 3.86 19,394.74 2.83

Total Expenses 51,540.80 46.42 62,036.84 70.54 401,764.04 58.56

Net Income 26,536.16 23.90 494.84 0.56 71,728.99 10.46

08/27/2008 at 08:38:03 Page: 3