RASHID CORPORATION INCOME STATEMENT FOR YEAR ENDED DEC 31 2007 SALES $504,000 COSTS OF GOODS SOLD $327,600 DEPRECIATION EXPENSE 42,000 OTHER OPERATING EXPENSE 125,500 (495,100) OTHER GAINS (LOSSES) GAIN ON SALE OF EQUIPMENT 7,200 INCOME BEFORE TAXES 16,100 INCOME TAX EXPENSE (4,800) NET INCOME $11,300 RASHID CORPORATION BALANCE SHEETS AT DEC 31

ASSETS 2007 2006 CASH 64,650 55,800 ACCOUNTS RECEIVABLE 21,000 29,000 INVENTORY 58,000 52,100 EUQIPMENT 240,000 222,000 ACCUMULATED DEPRECIATION (106,000) (96,000) TOTAL ASSETS 227,650 $262,900

LIABILITIES ACCOUNTS PAYABLE 28,400 23,700 INCOME TAX ES PAYABLE 1,050 1,200 TOTAL LIABILITIES 29,450 24,900 EQUITY COMMON STOCK $106,000 106,000 CONTRIBUTED CAPITAL IN EXCESS PAR 18,000 18,000 RETAINED EARNINGS 124,200 114,000 TOTAL EQUITY $248,200 $238,000 TOTAL LIABILITIES AND EQUITY $277,650 $262,900