STATEMENT OF OPERATIONS(Income Statement)
EX-10.5 6 ex10_5.htm EXHIBIT 10.5 ex10_5.htm
Exhibit 10.5
| In re | CHARYS HOLDING COMPANY, INC | Case No. | 08-10289 (BLS) | |||
| Debtor | Reporting Period: | June 1 through 30 |
STATEMENT OF OPERATIONS (Income Statement)
The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.
| REVENUES | MONTH | CUMULATIVE -FILING TO DATE | ||||||
| Gross Revenues | ||||||||
| Less: Returns and Allowances | ||||||||
| Management Fees billable to Subsidiaries | 1,300,000 | 13,170,579 | ||||||
| COST OF GOODS SOLD | ||||||||
| Beginning Inventory | ||||||||
| Add: Purchases | ||||||||
| Add: Cost of Labor | ||||||||
| Add: Other Costs (attach schedule) | ||||||||
| Less: Ending Inventory | ||||||||
| Cost of Goods Sold | ||||||||
| Gross Profit | 1,300,000 | 13,170,579 | ||||||
| OPERATING EXPENSES | ||||||||
| Advertising | ||||||||
| Auto and Truck Expense | ||||||||
| Bad Debts | ||||||||
| Contributions | ||||||||
| Employee Benefits Programs | 6,179 | 17,024 | ||||||
| Officer/Insider Compensation* | 80,166 | 468,884 | ||||||
| Insurance | 2,133 | 37,516 | ||||||
| Management Fees/Bonuses | ||||||||
| Office Expense | ||||||||
| Outside and other services - no reorganization items | 685 | 228,982 | ||||||
| Repairs and Maintenance | ||||||||
| Rent and Lease Expense | 18,336 | 77,953 | ||||||
| Salaries/Commissions/Fees | 37,169 | 176,836 | ||||||
| Supplies | 924 | 21,226 | ||||||
| Taxes - Payroll | 3,820 | 28,408 | ||||||
| Taxes - Real Estate | ||||||||
| Taxes - Other | (28 | ) | ||||||
| Travel and Entertainment | 14,500 | 64,478 | ||||||
| Utilities | 3,858 | 21,611 | ||||||
| Other (attach schedule) | 4,413 | 236,234 | ||||||
| Total Operating Expenses Before Depreciation | 172,183 | 1,379,124 | ||||||
| Depreciation/Depletion/Amortization | 2,823 | 13,022 | ||||||
| Net Profit (Loss) Before Other Income & Expenses | 1,124,994 | 11,778,433 | ||||||
| OTHER INCOME AND EXPENSES | ||||||||
| Other Income(Loss) - Subsidiaries | 1,091,653 | (1,521,193 | ) | |||||
| Interest Expense | (67,615 | ) | (366,239 | ) | ||||
| Other Expense (attach schedule) | ||||||||
| Net Profit (Loss) Before Reorganization Items | 2,149,032 | 9,891,001 | ||||||
| In re | CHARYS HOLDING COMPANY, INC | Case No. | 08-10289 (BLS) | |||
| Debtor | Reporting Period: | June 1 through 30 |
| REORGANIZATION ITEMS | ||||||||
| Professional Fees | 858,586 | 3,791,268 | ||||||
| U. S. Trustee Quarterly Fees | 4,875 | |||||||
| Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet) | ||||||||
| Gain (Loss) from Sale of Equipment | ||||||||
| Other Reorganization Expenses (attach schedule) | ||||||||
| Total Reorganization Expenses | ||||||||
| Income Taxes | ||||||||
| Net Profit (Loss) | $ | 1,290,446 | $ | 6,094,858 |
*"Insider" is defined in 11 U.S.C. Section 101(31).
BREAKDOWN OF “OTHER” CATEGORY
OTHER COSTS
| None | None | |||||||
| OTHER OPERATIONAL EXPENSES | ||||||||
| Filing fees | 4,188 | None | ||||||
| Misc | 225 | |||||||
| OTHER INCOME | ||||||||
| None | None | |||||||
| OTHER EXPENSES | ||||||||
| OTHER REORGANIZATION EXPENSES | ||||||||
| See MOR-6 "Bankruptcy Professionals" | 858,586 | 3,791,268 | ||||||
Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:
Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.
