BEFORE THE 

DEPARTMENT OF TRANSPORTATION 

OFFICE OF THE SECRETARY 

WASHINGTON, D.C. 

Date: 12-31-2010 

APPLICATION OF 

Marceco Ltd 

4585 40th St 

Kentwood MI 49512 

Marceco Ltd submits this application for a certificate of public convenience and necessity 

authorizing interstate charter air transportation pursuant to section 41102 of Title 49 of 

the United States code. 

In support of its application Marceco Ltd states the following: 

General 

1. Applicant is a corporation organized on January 1,2000 under the laws of the State of 

Michigan. Its address is: 

Marceco Ltd 

4585 40th St 

Grand Rapids MI, 49512 

Phone: 866-458-3888. 

Fax: 866-458-5485 

Communications with respect to this document should be sent to: 

David Den Herder President 

Marceco Ltd 

4585 40th St 

Grand Rapids MI 49512 

Phone: 866-458-3888 

Cell: 616-334-4666 

Fax: 866-458-5485 

Email: davidd(w.marcecoltd.com 
2. A narrative history of the applicant: 

a). Applicant is currently engaged in the wholesale distribution of prepaid cellular and 

long distance products in the continental United States. Operations are based in Grand 

Rapids MI where applicant owns and operates a 20,000 sq ft warehouse. In addition to 

the Grand Rapids warehouse, applicant operates local distribution centers in Milwaukee 

WI, Minneapolis/St Paul MN, St Louis MO, Omaha NE, Detroit MI and Columbus OH. 

The business was started in 1995 as a sole proprietorship (dba Prepaid Phone Cards) by 

David Den Herder and was reformed as a Subchapter S corporation in the year 2000. 

When Marceco Ltd was formed in 2000, Mark Den Herder and Ruth Den Herder became 

share holders in the new corporation, each holding 40% with David Den Herder holding 

the remaining 20%. In October of2004, applicant purchased the right to distribute Boost 

Mobile (Sprint/Nextel) prepaid products from Jamal Aqel for 20% of Marceco Ltd with 

10% coming from Mark Den Herder and 10% coming from Ruth Den Herder (see 

attachment A). Ownership has not changed since that purchase and is as stated above. 

Income is solely derived from the sale and distribution of prepaid telecommunication 

services at this time. Sales projections for the year 2010 are approximately 80 million. 

Because of applicants expanding presence in the Midwest and beyond, a Cirrus SR 22 

Turbo aircraft was purchased in October of2009. This has greatly enhanced applicants 

ability to not only manage the existing customer base, but to take advantage of growth 

opportunities facilitated by the quick and efficient transportation of a Cirrus SR 22. The 

cost of the aviation department for Marceco Ltd is currently supported solely by the 

profitability of our distribution business. Flights are conducted on a regular basis 

between most of the major and secondary cities in the states of Michigan, Ohio, 

Kentucky, Indiana, Missouri, Iowa, Kansas, Nebraska, North and South Dakota, 

Minnesota, Wisconsin and Illinois. With the emergence of sophisticated avionics, carbon 

fiber construction, certification for flight into known icing, and cruising speeds in excess 

of200 knots, the single engine Cirrus SR 22 turbo becomes a low cost solution for air 

charter services between these Midwestern cities. We intend to leverage our current 

investment in our aviation department to tum it into a profit center. 

b). Applicant requests authority to engage in interstate charter air transportation of 

persons. The initial efforts will focus on business travel between the cities of Grand 

Rapids MI, Detroit MI, Cleveland OH, Columbus OH and Indianapolis IN. While not 

intending to limit services to these cities, the value of the service flying to the West in a 

single engine aircraft is diminished because of the need to fly around Lake Michigan. 

The applicant is considering adding a multi engine aircraft in the future to better serve 

those customers who wish to fly to Chicago and Milwaukee, but does not intend to do so 

before the current proposal is approved. Plans are being developed to serve the pleasure 

traveler by working with a travel agency to market a vacation package to Mackinaw 

island that includes airfare and lodging at the Grand Hotel. A tentative schedule of 

airfare rates will be as follows: 
Airtime rate (one way) 

Airtime rate (round trip) 

Deadhead rate 

Pilot "wait time" rate 

$600.001hr 

$350.00/hr 

$99.001hr 

$50.001hr 

Our initial goal will be to book 20 hours per month of billable airtime. Operating costs 

will vary depending on the mix of one way vs. round trip and number of deadhead flights 

sold. We are projecting the following; 12hrs round trip, 8hrs one way 24 hours of pilot 

wait time, and 3 deadhead passengers. This will generate a total of$1O,497.00 in gross 

revenue with an approximate operating cost of $6000.00 (operating cost of airplane and 

pilot is @190.001hr). Profit in the above scenario will be $4,497.00. There is no 

financial risk to the applicant as the cost of the airplane and the administration of the 

department is completely supported by our wholesale business. Any revenue generated 

becomes an offset to our existing costs. As we are able to establish a customer base, and 

the department becomes self supporting our intent is to set up a separate corporation for 

the air charter services which would then sell services back to the parent corporation. 

The applicant will become the biggest customer of the charter services. 

c). At this time applicant does not intend to establish maintenance or operations bases 

separate from the corporate offices. 

d). There are no plans for contracting services at a maintenance or operations base at this 

time. Applicant does intend to offer flight training services in the future. 

3. Applicant's current aircraft is a 2009 Cirrus SR22 Turbo (N159CS) aircraft. The plane 

is a 4 place aircraft with a useful load of926 lbs. It has limited cargo capacity as it is 

designed primarily for the transportation of persons which is applicants intended use. 

a). Applicant purchased the aircraft in October of2009 for $607,000.00. Applicant paid 

off the note on the aircraft in July of 20 10 and currently owns 100% of the aircraft. 

b). Applicant is non-operating and affidavit will be submitted at the time FAA documents 

are submitted to the Department to make its authority effective. 

4. The applicant does not hold any current authority to conduct air transportation 

services. 

a). The applicant is seeking a new authority to conduct interstate charter services. The 

FAA personnel responsible for processing our application is: 

Robert C Koneful 

CFII, MEl, A TP, A&P 

F ederal Aviation Administration 

Flight Standards District Office 

5800 Nimtz Pkwy 

South Bend IN 46628 
Office 574-245-4635 

Email robert.c.koneful@faa.gov 

Corporate Structure and Ownership 

1. The applicant is a Subchapter S corporation in the state of Michigan, incorporated in 

the year 2000. 

2. The applicant is a corporation in good standing with the state of Michigan as 

evidenced by the statement provided for by the Secretary of State and can be found in 

attachment B. 

3. All shareholders ofMarceco Ltd are United States Citizens as evidenced in the sworn 

affidavit which can be found in attachment C. 

4. In 2000 when the corporation was formed, 60,000 shares of common stock were 

issued of which 2500 shares are outstanding. The ownership of those 2500 shares are as 

follows: 

David Den Herder 500 shares common stock 

Ruth Den Herder 750 shares common stock 

Mark Den Herder 750 shares common stock 

Jamal Aqel 500 shares common stock 

See attachment D 

5. The applicant is owned by 4 share holders who are all citizens of the United States as 

defined in section 40102(a)(15) of the Statue. Information for each of the shareholders is 

as follows: 

David Den Herder - President 

600 Monroe NW Unit 405 

Grand Rapids MI 49503 

Phone: 616-334-4666 

Email: davidd@marcecoltd.com 

Ownership and voting share - 20% 

DOB: 07-14-1955 

Citizenship - United States 

Employer - Marceco Ltd 

Ruth Den Herder 

740 S Federal Unit 908 

Chicago III 60605 

Phone: 616-516-7611 

Email: ruthd:2Vmarcecoltd.com 

Ownership and voting share - 30% 

DOB: 11-22-1979 
Citizenship - United States 

Employer - Marceco Ltd 

Mark Den Herder 

501 Lafayette Ave. SE 

Grand Rapids MI 49503 

Phone: 616-516-6275 

Email: markdr(i)marcecoltd.com 

Ownership and voting share - 30% 

DOB: 08-21-1985 

Citizenship - United States 

Employer - Marceco Ltd 

Jamal Aqel 

1080 Skyevale Dr 

AdaMI 49301 

Phone: 616-813-8095 

Email: jamal.agel:a)universalvvireless.net 

Ownership and voting share - 20% 

DOB: 3-17-1965 

Citizenship - United States 

Owner of Universal Wireless, a Michigan corporation located in Grand Rapids MI. 

a). No stockholder is an organization. All shares are held by the individuals identified 

above. 

b). No stock is held by any person for the benefit or account of a third party. 

c). The share holders of Marceco Ltd are not related by blood or marriage nor have they 

had any fmancial interest in, nor have they served as an officer or director of any other air 

carrier, common carrier, nor are they persons substantially engaged in the business of 

aeronautics or persons whose principle business (in purpose or fact) is the holding of 

stock in or control of any aviation-related entity. 

d). No shareholder has the option to convert debt to equity. All issued stock is common 

stock and there is no option to convert one type of stock to another type. 

6. The applicant does not have any separately operating divisions or subsidiaries. 

Management Expertise and Technical Ability 

1. Given the scope of the proposed operation, the management and control of the aviation 

department is incorporated into the overall structure of the corporation. The company's 

accounting is segmented and income and expense for the aviation department is recorded 

under that segment by finance personnel. Leadership will be provided by David Den 
Herder, the president of Marceco Ltd, and Joe Mathews, the applicant's company pilot. 

All operations are accountable to the board of directors. 

2. Key personnel- position and responsibilities. 

David Den Herder: 

1995 to present - President/owner 

David currently serves as president of Marceco Ltd and has been in that role since the 

inception of the company in 1995. All upper management level decisions will be made 

by this position which will primarily involve direction for the department ie., expansion, 

services offered and finance related issues. 

Joseph Matthews: 

09115/2009 to present - Company pilot 

Joseph currently serves as company pilot. He will be responsible for all flights involving 

Marceco's charter service. Although we are not anticipating adding to our services prior 

to completing this certification, when we add additional aircraft and pilots, Joe will be 

responsible for the training and flight assignments of all pilots. 

3. Resume's can be found in attachment E. 

4. Citizenship is verified by sworn affidavit found in attachment C 

5. Stock held by the management team: 

David Den Herder - 500 shares of common stock 

6. None of the key personnel hold stock, officer ships, directorships or any other interest 

in any other carrier, common carrier nor are they engaged substantially in the business of 

aeronautics. 

7. Because applicant is pursuing certification as a single aircraft single pilot operation, 

we will not be hiring a director of operations, director of maintenance, director of safety, 

a chief pilot, or chief inspector. 

Financial Position and Operating Plan 

1. Financial documents demonstrating the strength of the applicant can be found in 

attachment F. Included are tax returns for the years 2007, 2008 and 2009. Also included 

is an income statement and balance sheet for year 2010 ytd. (See attachment F) tax 

returns have been completed by Mc Donald and Associates, CPA and all accounting is 

based on GAAP. McDonald and Associates are located in Grand Rapids Michigan at: 

Mc Donald and Associates 

2156 Plainfield Ave NE 

Grand Rapids MI 49505-4204 

Phone - 616-447-8639 
2. Relevant statements 

a). There are no current liens or encumbrances against the applicant. 

b). There are no major commitments made by the applicant in the past 6 months and no 

plans to do so in the next 6 months related to financing, issuance of bonds or stock. We 

do have a contract with SprintlNextel to distribute their prepaid product offering prepaid 

cellular services for the calendar year 2011 through April of2012. 

c). The applicant has not sold or exchanged any major assets in the last 6 months and has 

no plans to do so in the next 6 months. 

d). There are no past due liabilities owed by the applicant. 

e). There are no contingent liabilities that will impair the corporations ability to meet its 

obligations. 

t). There have been no events significant to the applicants financial position that would 

impact operations since the end of November. Our financial position has not 

substantially changed in any way since the submission of our most recent financial 

documents. 

3. Service proposal 

Revenue projections 

a). The proposal is for public charters serving the following markets; Grand Rapids, 

Detroit, Cleveland, Columbus and Indianapolis. In addition to business travel to and 

from these markets, we will also be serving the tourist market to and from destinations 

such as Mackinaw Island, Beaver Island and other vacation destinations in the Michigan 

market. Attachment G contains a breakdown of projected revenue and expense. 

b). The applicant has a single aircraft, a Cirrus SR22 Turbo which seats 4 and has a 

useful load of 926 lbs. 

c). Total number of passengers will be 3. With useful load of926lbs, passenger weight 

will have to be accommodated with fuel adjustments that will keep plane within useful 

load limits. Fuel burn is approximately 17 gallhr. With cruising speeds that often exceed 

200 knots, with our chosen markets of opportunity; we will be able to accommodate most 

charter flights, regardless of passenger weight, without a refueling stop. 

d). See attachment G for fare charges and gross revenues. 

e). See attachment G for projected number of revenue block hours and total time with 

seasonal peaks. 
Expense projections 

Since this program is currently 100% supported by the profit of our wholesale 

distribution of prepaid cellular products, the following projections are an estimate of the 

time commitment of existing personnel to run the program. It should be noted that 

because of the uniqueness of this situation there is minimal financial risk to operate this 

service. 

a). Aircraft expense is detailed in attachment G. 

b). Indirect expenses are a calculation of appropriated time by existing personnel for the 

operations of the charter services and is represented in attachment G. 

c). A Cessna 340A has been purchased with the intent of adding this aircraft to our 

charter services. We are not asking for certification on the 340A at this time. 

4. Since flight services are already being conducted by the flight department of the 

applicant and there is no lien on the aircraft, in addition, since this department is being 

fully funded out of profits from the wholesale business of Marceco Ltd, no additional 

capital is needed. 

5. No additional capital will be needed at this time. 

6. There are no outstanding judgments against the applicant. 

Compliance Disposition 

1. There are no current pending enforcement actions or formal complaints registered 

against the applicant or its key personnel. 

2. Our key personnel are not involved with any other air carrier or aviation related 

company. 

3. There are no civil or criminal charges brought within the last 10 years against the 

applicant or its principals related to fraud, felonies, antitrust violations or unfair, 

anticompetitive or deceptive business practices. 

4. There are no aviation related accidents or incidents in the previous 12 months that 

involved the applicant or it key personnel. 

Certification 

Pursuant to Title 18 United States Code Section 1001, I David Den Herder, in my 

individual capacity and as the authorized representative of the applicant, have not in any 

manner knowingly and willfully falsified, concealed or failed to disclose any material 
fact or made any false, fictitious, or fraudulent statement or knowingly used any 

documents which contain such statements in connection with the preparation, filing or 

prosecution of the application. I understand that an individual who is found to have 

violated the provisions of 18 U.S.C. section 1001 shall be fined or imprisoned no more 

than five years, or both. 

Accident Plan 

An accident plan filed in Docket OST-96-1960 has been filed with National 

Transportation Safety Board. The plan was sent to: 

Office of Public Affairs 

National Transportation Safety Board 

490 L'Enfant Plaza East, SW 

Washington, DC 20594 

Passenger Manifest Information 

The applicant does not intend to operate any covered flight segment in the foreseeable 

future and will not operate any covered flight segment unless and until it has filed the 

summary required by section 243.13. A statement to that effect has been filed in Docket 

OST-98-3305 with the department. 
Attachment A 
CONTRACT TO SELL SHARES 

THIS CONTRACT to sell capital shares of common stock of MARCECO, LTD., a 

Michigan Corporation, hereinafter referred to as the "Corporation", located at 1133 

Michigan NE., Grand Rapids, Michigan 49503, is made this -L day of j 1}A,)f4I/~I...;_J ' 

2005, between JAMAL AQEL, whose address is 10891 Cheyenne Trail, Grand Rapids, 

Michigan 49544, hereinafter referred to as "Purchaser" and MARCECO, LTD, 

hereinafter sometimes referred to as "Seller". 

Recitals 

Seller is the owner of retained capital stock of the Corporation. Seller is desirous 

of selling such stock, (500 shares or 20%), to said Purchaser and the Purchaser wishes to 

purchase said common stock, (500 shares or 20%), in the Corporation. 

Sale and Purchase Common Shares 

1. Subject to the terms and conditions of this Agreement, the Seller agrees to 

sell to Purchaser, and Purchaser agrees to purchase the stock, (500 shares or 20%), and 

interest in that stock Seller may have. 

Consideration 

2. The consideration for the shares, (500 in total), and interest of Seller shall 

be the formal assignment and acceptance of the Boost Master Agent Agreement to Seller 

and any other considerations herein given representing good and valuable consideration 

by Purchaser and received by Seller. (See Exhibit_). 

Transfer of Shares 

3. Upon execution of this Agreement, Seller shall transfer Five Hundred, 

(500 shares in total), shares of interest in the Corporation to Purchaser, which said 

transfer and sale shall be recorded by the Corporation in its Corporate Record Book 

represented by an ASSignment of Shares and Stock Certificates. 

Warranties of the Seller 

4. The Seller warrants and represents: 

a. The Corporation is duly organized and existing 

under the laws of the State of Michigan, and has all the requisite 

corporate powers to carry on its business as conducted and as 

proposed to be conducted. 
b. The Seller has the power to enter into this 

Agreement and to transfer the shares contemplated by this 

Agreement. 

c. The Seller is duly qualified to transact business and 

is in good standing in which the nature of the business transacted 

by the Purchaser makes such qualification necessary. 

d. There is no litigation, action, or proceeding 

pending or, to the knowledge of the Seller, threatened against the 

Seller before any court or administrative agency. 

e. All consents, approvals, and authorizations of, or 

registrations, declarations, or filings with, any governmental 

authority required in connection with the performance of this 

Agreement, or in connection with any of the transactions incident 

to the sale of the shares, has been procured or performed by the 

Seller. If said actions have not been taken, Seller will take the 

necessary steps required to consummate this transaction. 

Releases 

5. In consideration of the shares to be tendered to the Purchaser, Purchaser 

has had an opportunity to review the books and records regarding, financial, tax, and all 

pertinent matters necessary for this transaction, and is satisfied with the same and 

hereby releases Seller of its liability. 

Costs, Taxes and Expenses 

6. Each of the parties shall be responsible to pay all costs, taxes or other 

expenses incurred in its own right as the result of this Agreement and shall hold the 

other harmless thereon. 

Miscellaneous 

7.1 Notices. All notices, demands, requests and other communications 

required or permitted hereunder shall be in writing and shall be deemed to be delivered 

when actually received, or, if earlier, and regardless of whether actually received (except 

where receipt is specified in this Agreement), upon deposit in a regularly maintained 

receptacle for the United States mail, registered or certified, postage fully prepaid, 

addressed to the addressee at its address set forth below or at such other address as such 

party may have specified by notice delivered in accordance with this Section and 

actually received by the addressee: 

Seller: MARCECO, LTD. 

1133 Michigan NE. 

Grand Rapids, Michigan 49503 

2 
Purchaser: JAMALAQEL 

10891 Cheyenne Trail 

Grand Rapids, Michigan 49544 

7.2 Survival. Except as otherwise expressly provided herein, obligations 

accrued to the date of any termination of this Agreement shall survive the termination. 

7.3 Governing Law; Venue. The laws of the State of Michigan, County of 

Kent shall govern the validity, enforcement and interpretation of this Agreement. 

7.4 Integration; Modification; Waiver. This Agreement constitutes the 

complete and final expression of the agreement of the parties and supersedes all 

previous contracts, agreements and understandings of the parties, either oral or written. 

This agreement supersedes all personal and individual contracts, agreements, notes, 

monies owed, accords, arrangements and understandings. This Agreement cannot be 

modified, or any of the terms hereof waived, except by an instrument in writing 

(referring specifically to this Agreement) enforcement of the modification or waiver is 

sought. 

7.5 Counterpart Execution. This Agreement may be executed in several 

counterparts, each of which shall be fully effective as an original and all of which 

together shall constitute one and the same instrument. 

7.6 Headings: Construction. The headings which have been used 

throughout the Agreement have been inserted for convenience of reference only and do 

not constitute matter be construed in interpreting this Agreement. Words of any gender 

used in this Agreement shall be held and construed to include any other gender and 

words in the singular number shall be held to include the plural, and vise versa, unless 

the context requires otherwise. The words "herein," "hereof," flhereunder" and other 

similar compounds of the word "here" when used in this Agreement shall refer to the 

entire Agreement and not to any particular provision or section. 

7.7. Invalid Provisions. If anyone or more of the provlslOllS of this 

Agreement, or the applicability of any such provision to a specific situation, shall be 

held valid or unenforceable, such provision shall be modified to the minimum extent 

necessary to make it or its application valid and enforceable, and the validity and 

enforceability of all other provisions of this Agreement and all other applications for any 

such provision shall not be affected thereby. 

7.8 Binding Effect. This Agreement shall be binding upon and insure to the 

benefit of Seller and Purchaser and their respective successors and permitted assigns. 

Except as expressly provided herein, nothing in this Agreement is intended to corner on 

any person, other than the parties hereto and their respective successors and permitted 

assigns, any rights or remedies under or by reason of this Agreement. 

3 
8.0 Legal Council. Seller represents that Hogan & Associates, p.c. 

represented the Seller solely in this transaction and Purchaser did not rely upon any 

representations of said Counsel entering into this Agreement. 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement and 

agree to the terms and conditions as set forth as of the day and year first above written. 

Dated: _---'-1-1-11_-'---1 _----', 2005 

SELLER: 

-----"~=------v---=~L--_/_y ,M/J~ /....... ___ (L.S) 

MARCECO, LTD 

Authorized Representative 

****** 

PREPARED BY; 

Cristopher A Hogan 

HOGAN & ASSOCIATES, p.c. 

AttomClj & Counselor 

2156 Plainfield Ave" NE 

Grand Rapids, MI 49505 

(616) 361-0355 

www.Hogmz@hogarz-lmu.coril 

G: \ CAH\ sb \ Business \ Contract To Sell Shares.doc 

4 
Attachment B 
06 / 15/2010 2:07:52 PM FAX COM PAGE 3 OF 3 

~ :jJepartmmt of ennmo. LdIor &: eamomk .OtDtb~ un ... JIlitOOtan 

This IS to CerMy That 

MARCECO. LTD. 

was validly incorporated on October 28, 1999, as a Michigan profit corporation, and said corporation 

IS validly in exhtence under the laws of this state. 

This certificate is issued pursuant to the provisions of 1972 PA 284, as amended, to attest to the fact that the 

corporation is in go:xJ standing in Michigan as of this date and is duly authorized to transact business 

and for no other purpose. 

This certificate is In due form, made by me as the proper officer, and is entitled to have full faith and credit 

given it in every court and office within the United States. 

Sent by Facsimile Transmission 

1016893 

In testimony wherecJf, I have hereunto set my 

hand, in the City of Lansing, this 15th day 

of June, 2010. 

~------ Director 

Bureau of Commercial Services 
Attachment C 
STATE OF Michigan 

COUNTY OF Kent 

AFFIDA VIT OF CITIZENSHIP 

Ruth Den Herder being first duly sworn, deposes and says: 

1. That he/she is duly elected, qualified, and serving as Secretary of Marceco, Ltd. 

and that he/she is authorized to and does make this affidavit for it. 

2. That Ruth Den Herder is a citizen of the United States within the meaning of 49 

U.S.C. 40102(a)(15). 

Subscribed and sworn to before me this 'J- (~ day of .1IiVt<. ,2010. 
AFFIDA VIT OF CITIZENSHIP 

STATE OF Michigan 

COUNTY OF Kent 

Jamal Agel being first duly sworn, deposes and says: 

1. That he/she is duly elected, qualified, and serving as Shareholder of Marceco, Ltd. 

and that he/she is authorized to and does make this affidavit for it. 

2. That Jamal Aqel is a citizen of the United States within the meaning of 49 

U.S.c. 40I02(a)(l5). 

,r- d ,<~-- '\ Subscribed and sworn to before me this---",oL __ 0 __ day of Vv.~ 

Ronald L. VanSingel 

Notary Public 

Ottawa County. MI 

MyComm. Exp. 12-7-2011 

,2010. 
AFFIDAVIT OF CITIZENSHIP 

STATE OF Michigan 

COUNTY OF Kent 

Mark Den Herder being first duly sworn, deposes and says: 

1. That he/she is duly elected, qualified, and serving as Vice-President of Marceco, 

Ltd. 

and that he/she is authorized to and does make this affidavit for it. 

2. That Mark Den Herder is a citizen of the United States within the meaning of 49 

U.S.c. 40102(a)(IS). 

Subscribed and sworn to before me this ;:;- day of <",)UALL ,2010. 

CAROL L JOHNSON 

NOTARY PU8L1C - MICHIGAN 

KE,;JT CO:JNTY 

MY COMMtSSiON EXPIt(ES 00-00-2012 

ACTING H KENT CCUHY 
AFFIDAVIT OF CITIZENSHIP 

STATE OF Michigan 

COUNTY OF Kent 

David Den Herder being first duly sworn, deposes and says: 

1. That he/she is duly elected, qualified, and serving as President of Marceco, Ltd. 

and that he/she is authorized to and does make this affidavit for it. 

2. That David Den Herder is a citizen of the United States within the meaning of 49 

U.S.C.40l02(a)(15). 

Subscribed and sworn to before me this 16Cb. day of ~ ,2010. 
, 1 

Affidavit of Citizenship 

State of Michigan 

County of Kent 

Joseph E Matthews being first duly sworn, deposes and says: 

1. That he/she is duly elected, qualified, and serving as Pilot. 

of Marceco LTD and that he/she is authorized to and 

does make this affidavit for it. 

2. That Joseph E Matthews is a citizen of the United States 

within the meaning 

~ 

of 49 U.S.C. 40102(a)(15). tr . 

S bscnbed and sworn to before me thIS Fourteenth day of December, 2010. 

KYLE EITMAN 

Notary PubliC. State of Michigan 

County of Kent 

My commissioo Exp' Jul. 10. 2014 

Actill\l in the Cnunty of 
Attachment D 
JT 1334 

C OPYRIGHT, I\:I!30. eY 

OWIGH, & M. H. JII.CKSON 

C IU CA<.OO 

PATt':NT PEN D IN G 

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© DWIGHT 8: M. H. JACKSON 

CORPORATION SUPPLY CO. 

20!l W. RANDOLPH ST . 

. _______________________________________ C_I!I_CA_GO,_I_L_LINClI_S_6~606 __ _ 

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( RESERVE THIS SPACE TO PASTE BACK CANCELLED STOCK CERTIFICATE) 

-----.. -~-------------_r--__:_=_:_::_:::___=_=_::__-------------

IF NOT AN ORIGINAL ISSUI:' SHOW DETAILS OF TRANSFER BELOW ---.. ----.. --~ 

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~ ___ ._______ _____ __ .. __ _ ___. _____ " . __________ J _____ . ___ . ___ _ 

II" THIS CERTIFICATE IS SURRENDERED FOR TRA~~SHOW DETAILS --~~~-.---" 

.Ao.of JVeuJ 

~~llcaW~dtir Yo. 0/ ShaTf!.5 

Cerltfuuie Gfrtl7lsftrred ~- ~---.. ---- ----.~ ~ .. ' -.. -.~.-----

/~~4//kj~~--- JAMAL AQEL 4 250 ---~ ----,._-

------ -~ - ~~---~--

-~~---- --~-.. --- --- - - --~----.. -. 

(~j"r(;'4u~)Jr;d:£IidI~4"~/.------
CO ~I GIIT , l -,;JO , BY 

OWIGHT &:: tA, H, JACKSON 

C H ICAGO 

t-'Al i!: N T P I:.NQIHG 

JT 1334 

CORPORATEO UNDER THE LAWS OF THE STATE OF 

AUTHORIZED CAPITAL 60,000 - ' . '~HARES $1_ 00 PAR VALUE: 

(llliis friilles 1(1t __ ~~~_ DE~ __ ~RI?ER _____________________ ~j~(}a~~ 

9~~ __ '!'I!Q!!~}\Np l1IJt9JU ____ ___ ___ . _________ .. __ ~(lttktmkttm-;d~~ 

SHARES OF THE CAPITAL STOCK OF_MAR_C_E_C_O,=---LT_D _____________ _ 

Atl?l.#iatJl1J;lJll Id(JMtJj!/Ifgy;tJ1~ma/l@t;~;¥#?JtJndW~ £h~4/.jer/.YIJkl//lElf/ujt(fJl/ 

()tt21(}1l(k~~:iJ/ ~21(/latkflW/l8i~ut1Jid/d 

~tiWijl®~WflfJtOOf /£e0/U-d~i/lmrdt#MAdLfatl/dI!ddtJYt&iI~l&k~~td~~da+ 

a//dbiff~d#CmJ/Httl4atdJdta/A;d&2l:u~ ~jMu/tiJn; 

/!f(;} __ . ___ !J ~~ _______________ _ d£M/ ~ ~ OCTOBER ,s¥!7J. 19 . _ _ 
© DWIGHT Be M. H. JACKSON 

CORPORATION SUPPLY CO. 

205 W. RANDOLPH ST. 

CHICAGO, ILLINOIS 60606 ---_ .•. __ ._-_ . .----

( RESERVE THIS SPACE TO PASTE BACK CANCELLED STOCK CERTIFICATE) 

IF NOT AN ORIGINAL ISSUE SHOW DETAILS OF TRANSFER BELOW 

c/( ./,// J. /f/~ r CO;;? ('f!J'I'ftt'fl{C(/ to<-I-3-. ... . _. ____ . __ .. C . or<.J....Ooo.--.-.~,:rllalr:d 

Ml\RJ:E.U-..L'l'D.. 

(7--- A g 0/J!: r ~T"'l CerlqXml' ,,t,;oIl1n'q'llll< o(.fll'" R:r:Z"::::JlI/ JVO_ t~)nl' 1 ,Y},nm'Tnm,,/ii. 

__ . _________ .- ________________ ..... ~ ___ ..... J,LtLQ.5JJ., OO!) .12.5.0 __ 

9lJa«d __ ._. ______ ._.~ __ ._ ......... ----.-... -J.- ... -.--.. 

/'-!Mttcdto/ RUTH DEN HERDER -~. _____ --l ___ ._" ___ ~~.j _________ ~. ___ ~. ____ • 

\-.---. .---... ------.. --... -.-.---·-4· .. . -·-1---· .-. --.--.. , .. , --.---.. -.-------' ----- . 

___ .-1.. ..... __ ._. ___ . __ .1. ___ ._ .... _. __ 

). .' . j}(J.O( y¥eu; JVo.o/Sh{(re.5 

_ " ~T"" C.'",, "CAT' " SUR~R~'ND'R'D~Fr TRANS"RSHOW DOT "LS_._.~.~ .. 

Jj{t{/~P~ ~td~ 0!1lI!!'ftl~_. __ . (~r.[~~ftr~e!i ___ 

~~cei~~/t;)~4~--- JAMAL AQEL 4 250 .---.---~ 

------------------ -~-------- --.--.~--~-~-~--

------------ - ".--~- ---.. · .. --------.. ···----1 

(1/ / / 1.£/·C£;)~/!-"fI+;"} ~Jtv/r(Jna(fff'£{~(/ud 79&' ~U/.~ _____ ._. _____ . __ 

I 

I 

-.--~----.-~----- .-.---~-.~.--.-,~--.-.-- ----~ -----

-+~-.-.--~----------~-- .---~-+~--
JT 1334 

COPYRIGHT. 1930, BY 

DWIGHT a. M, H, JACI(SON 

C HICAGO 

t'A T1:!:tH PP.:NOING 

"·~'. l ""'~;;;.:Jt :l' -, .. - .·· . ~ 

, - -. - - - SHARES $1.00 PAR VALUE 

qtiis frjifies1hat _!AMAL AQEL _______ _______ __ _____ . ~jd&{}t~£/ J!IVILWRED (SOJU ___________ __ ,,_____________ ;fd!;ta'ld,a:naf?llln-;(~~ 

SHARES Of THE CAPITAL STOCK Of" MARCECO, LTD. 

A/V~ta~;@l~I/)f}.6/Jj:/M?b/f})lttJlD/ttw;;~/t#id(IH$~dto/~tl/t#i/jdJlJk/l/IMr)/~t'?p 4tdl&nd8i~//,t;iY ~:W/¥k;a/fY/t4tJ/t#,#fffH~d 

%WihtpMW~)W~~d&~atd~/tt»dt/m/!dAtWt/Jddl;;~l#ok/~~~/d~~dtto/ 

//tt'dbtffai#CmJ/),/lu/datdctfta//b/&§fad~ ~uI@n; 

dt(~. ______ !S'!'._____ _ d~ /~ JANUARY J¥.9) _ 20J15... ___ _ 
~--------------------------------

© DWIGHT 8: M. H. JACKSON 

CORPORATION SUPPLY CO. 

20!l W. RANDOLPH ST. 

CHICAGO. ILLINOIS 60606 --~~~~-----~ -- ---~-----

( RESERVE THIS SPACE TO PASTE BACK CANCELLED STOCK CERTIFICATE) 

Cf(/,"// A;;? c;;:-- CC/l r 'f!J'4:/t'fl/c/' f 0: _~~ ___ 1 ___ ~____ ~"/ t')r~_20_() ________ ~:r1l a.lt:1 

MARCECO, LTD ~-------

()/j I j c::-2:I£/{(:£V 

/giJtted/iy _~~ AQEL ~~--~-

Ufl . ~ / -/-£)'(L/--/;~/YTL>/ ~7f~c~(-tJfX!fVi(d rgtYrt~ ____ ~~~~_ 

5~/r(}Jzr~:/j'Cd:;/&;I~¥CaZ?/-~~ ~~ ___ /l!L_~_ 

r-____ I_F NOT AN ORIGINAL ISSUE SHOW DETAILS OF TRANSFER BELOW 

O~ A g ('/2. prirl~iud Certzjj('r({~ A0.()f(Jti1'1.-f;10.~/;Sh~ 

r-/lrl'7 M;'/J/'/'t'ctyTtJlll / ~~~~~ 'j)~/f; ---r .'}?Ift rI!.8_~7f'!.'~~,;t~ 

~~ DEN_f!E~ER _____ ~L_2 ___ ~LILlLJl5J l~O __ L25_0_~ 

~UTH DEN HERDER_J __ ~_~l!JJI9§J),_,_QOO_J~_!iQ 

--i~- --~~---+- ---i---

----_._--j ~-.-~----- ~.-

IF THIS CERTIFICATE IS SURRENDERED FOR TRANSFER SHOW DETAILS 

Jfd{/~jJ~aW~~/ ,M).of.JYea! M.o/Sh{(res Certi{lfxttlJ CJF{IJlsjl:rrfJd --------~~ - ~~-- -~ -- --

------

---------- .---~--

~-----~- -~--~~ --.~~---- -

--------- ~.~----~--- -~----------~--

-~------------ ------~- -~---~ - --
JT 1334 

CO ~I OH' . 1930. BV 

DWIGHT 8< M. H. JACKSON 

C HICAGO 

P .... TENT P~ DI NG 

_~ - ' 4.Y'; " ;;tt - - _ 

((

'" W;tjJl'O(''')J~ . L . l ' _ ~,.~';. _ 

AUTHORIZED CAPITAL 60,000 SHARES $1.00 PAR VALUE 

Gfhis ((giifics1iint DAVID DEN HERDER ~~fltl/Wi;~ 

FIVE-HUNDRED (501)) __________________ ~~d~nm~~~ 

SHARES Of TH E CAPITAL STOCK OF _MAR-----=-:C;:--EC_O_, _L_TD_" ___ ---:-_--::-___ --:--

hwl~d~/JJP~/~,#6~t»~~;ftlJMtJN/J1/~~£tIhjtdA~/lIJf!HjttfW 

AHPU£mtk~~~~~&2I~~t/f~/uM&af. 

f},iW!htRM1V~//I&&ui:t~~AdAtnH/Jl!dd{)~A/~k~~~AiJduo/· 

ffH~mfid~d7uid&Iid£~/~%t/¥~~&7l; 

,d(;p 28th £~ "' ¥ OCTOBER s;I!i) . 19..L.-L9 ____ 9 _ 
© DWIGHT 8( M. H. JACKSON 

CORPORATION SUPPLY CO. 

205 W. RANDOLPH ST. 

CHICAGO, ILLINOIS 60606 

( RESERVE THIS SPACE TO PASTE BACK CANCELLED STOCK CI!:RTIFICATE ) 

~-.-~--~ 

IF NOT AN ORIGINAL (SSUR SHOW DETAILS OF TRANSFER BELOW 

__ 500_~ ___ ~ff/(}j u;-~ ~ (}l'iflilJ:!!i. {'el'lzil('(( tl! .A0. of()niJ'l. .;la ofJJirs. 

~1/~? 'tl17l!tIA 7'tlJll/ .;Yh. '7Jute ~rA{lI'f!8 CJramitl. -~-\------------ (-6:: .-h:.t2 ./~ / ;( q t 1 g;;-- 9t:r~If'tcau:l/ !fiJ.·-----~-----c/b 

f.-.--- - MARCECO, LTD i 

, {!)J£lti~- ----- ~ "~.-- ~-------~- -----'--'-- -----

/$JU/.dk/ _.E.AVI~ DEN HERD. ------ ------------.------------ ""_ .. __ .- .----~~-.. - f---------- ~--------

----------- .. - .. --- - ------- +------f--.----l-----~ 

._- .-

r ____ I"_T_H~S CERTIFICATE IS SURRENDERED FOR TRANSFER SHOW DETAILS _~ 

AI) Cfl .£:1:;' _ --/:. / ~ A IIAd. Jl0.of KeuJ %o,o/8hares. U p;UF(()eruj/(/UfQ ~k Cerli(ieuk Cfitm8ped __ I 

{)/f ---. / -/-p. C P_/J.g.,,-fp ~7U:caVt:tl/~ud Tf}(Y/U~/.~-------.. -.-----

---~~-~-------+-~---+----

--------.-----------------_._--+---------<-._-------

--f--- .. 

C/J /. _ ./. -/-I?-C~~/l~/Yr,p/ ~:y~1'rC?UUylUl_;Utt(} '96, ~ ________ . ___ _ 
., .~ 

Attachment E 
.. 

Joseph Edwcjt-d Mqtthews 

Obiective 

ProFession'll pilot - Aircrq!t Mqn'lger 

QuqliHcqtions 

120 Loomis St 

Clinton, Mi 49236 

cell (734)-330-1330 

Joe_Tenor _M'lster@yqhoo.com 

Multi-Engine 'Inc! Single-Engine lqnc! Commerciql CertiHcqte 

Flight Instructor Single 'lnc! Multi-Engine Airpl'lne with Instrument CertiHcqte 

B'lchelors of Science in Avi'ltion Flight 

Ac!vqncec! Grounc! Instructor CertiHc'lte 

First Cl'lsS Mec!icql 

Educqtion 

B'lchelors in Aviqtion Flight Science 2003-2007 

Western Michigqn Vniversity - P'lrt 141 

J<.ql'lm'lzoo/ Bqttle Creek, Mi 

GPA - 3.1 

Relevq nt Experience 

M'lrceco LTD - Gr'l nc! R'lpic!s Michig'ln 

Comp'lny Pilot/Flight Instructor 

October 2009 - Present 

Job Description: pilot 'lirplqne For comp'lny members 'lnc! give Aight instruction to 

member oFthe compqny. M'lnqge 'lll qspects oFq Cirrus SR22 Turbo. 

Flight Experience 

Tot'll Time in Ai rCfq!t: 1950 Hours 

Multi-Engine: 30 Hours 

High PerForm'lnce Single: 450 Hours 

Pilot-In-Commqnd: 1900 Hours 

Duel Instruction Given: 1250 Hours 

ather Experience 

certiAed Flight Instructor P'lrt 61 

Eqgle Flight Center - willow Run Airport 

Ypsilqnti, Mi 

October 2007 to October 2009 
.. 

Objective: 

David Den Herder 

600 Monroe Ave NW 

Grand Rapids MI 49503 

Cell: 616-334-4666 

Work: 616-458-3888 

email: davidd@marcecoltd.com 

To secure an upper level management position with a growing company 

Qualifications: 

Extensive experience in building a company from the ground up. Started Marceco Ltd in 

1995 as a sole proprietorship. Marceco Ltd, a sub chapter S corporation, was formed in 

the year 2000 and the 2 entities have experienced 16 consecutive years of growth starting 

from a kitchen table operation to the company it is today with over 70 employees and 

annual sales of 80 million. 

Education: 

BA - Sociology; Dordt College, Sioux Center Iowa, GPA 3.50 

MSW - Western Michigan University, Kalamazoo MI, GPA 3.90 

Work Experience 

20 years of experience with 5 different agencies in the Grand Rapids area as a clinical 

social worker. The jobs ranged from direct care with emotionally impaired and socially 

deprived adolescents, crisis assessment and referral, working with the chronically 

mentally ill and working in the QA department of Kent County Community Mental 

Health. The QA position involved IT skills as well as extensive data analysis, skills that 

were critical in the launch and success of Marceco Ltd. 

16 years as the president of Marceco Ltd, building the company from a startup to its 

current annual sales of 80 million. 

Strengths: 

Good leadership skills, problem solving, resourceful, high tolerance for risk, high energy, 

determined and committed to succeeding. 

References: 

References will be furnished upon request. 
Attachment F 
Form 1120S 

Department of the Treasury 

Internal Revenue Service 

U.S. Income Tax Return for an S Corporation ~ Do not file this form unless the corporation has filed or is 

attaching Fonn 2553 to elect to be an S corporation. 

~ See separate instructions. 

For calendar year 2009 or tax year beginning 2009 ending 

A S election effective date Name 

09-01-1999 Use MARCECO LTD 

B Business activity code IRS Nurrber. stree~ and room or S!ite no. If a P.O. box. see instructions. 

label. number (see instructions) Other- 3542 ROGER B CHAFFEE SE 

454210 wise, City or town, state, and ZIP code 

print or 

C Check if Sch. M-3 type. - attached GRAND RAPIDS MI 49548 

OMB No. 1545-0130 

2009 

20 

o ~ideoilifit:alitMl oumer 

38-3488505 

E Date incorporated 

09-01-1999 

F Total assets (see instructions) 

$ 2 638 423 

G Is the corporation electing to be an S corporation beglnntng with thiS tax year? Yes X No If " Yes, " attach Form 2553 If not already filed 

H Check if: (1) Final retum (2) ~~' Name change (3), Address change 

(4) ", Amended retum (5)' ,S election termination or revocation 

Enter the number of shareholders who were shareholders during any part of the tax year .~ 4 

Caution. Include only trade or business income and expenses on lines 1 a through 21 See the instructions for more information 

1 a Gross receipts or sales I 56 457 432 I b Less returns and aDowances I 1 980 Ic Bal~ 1c 56 455 452 

2 Cost of goods sold (Schedule A, line 8) ...................... .. .. .. .. .. .. .. .. . . · . 2 53 057 510 

Income 

3 Gross profit. Subtract line 2 from line 1 c .............................. .. ...... . . 3 3 397 942 

4 Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797) · . · ........ 4 

5 Other income (loss) (see instructions - attach statement) ... · · . · . 5 

6 Total income (loss). Add lines 3 through 5 .............. . . . · . .~ 6 3 397 942 

Deduc· 

ions 

(see 

instructi 

I 

ons for 

imitaions) 

T ax 

a nd 

P ay· 

m ents 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22a 

b 

c 

23a 

b 

c 

d 

24 

25 

26 

27 

Compensation of officers .......................... .. .. .. .. .. .......... 

Salaries and wages (less employment credits) ••• . .......... 

Repairs and maintenance • • • • · . .. .. .. .. .. .......... 

Bad debts ........ . . . · . · .. ............ 

Rents ............ .. · · . .. ............ 

Taxes and licenses . . .. .. .. .. .. .. .. · . .. .. .. .. · . · . · . • A~T. lD'J:L. - Interest .. .. .. .. .. . . .. .. .. .. .. .. .. · . .. .. .. .. · . · . · . ....... Depreciation not claimed on Schedule A or elsewhere on retum (attach Form 4562) · .. · 

Depletion (Do not deduct oil and gas depletion) . . . · . · . · . · .. . Advertising ........................ · . · . · · . . Pension, profit-sharing, etc., plans · · . · . · .. Employee benefit programs .. .. .. .. · . . . · .. · · . · . ........ · Other deductions (attach statement) · . .. .. .. .. .. .. · . · . • ST.ArfiMENT # :2 

Total deductions. Add lines 7 through 19 .. .. .. .. · . · . ........ .. .. .. .. .~ 

Ordinary business income (loss). Subtract line 20 from line 6 .. · · .. ........ · . Excess net passive income or LIFO recapture tax (see instructions) . 22a 

Tax from Schedule D (Form 1120S) .................................. 22b 

Add lines 22a and 22b (see instructions for additional taxes) .......... · · .. .. .................. 

2009 estimated tax payments and 2008 overpayment credited to 2009 · 23a 

Tax deposited with Form 7004 .. .. .. .. .. .. .. .. .. .. .. · . · 23b 

Credit for federal tax paid on fuels (attach Form 4136) .................. 23c 

Add lines 23a through 23c ........................................... . · .. .. .................. ,--

Estimated tax penalty (see instructions). Check if Form 2220 is attached ............ · .. .. ~ ~. 

Amount owed. If line 23d is smaller than the total of lines 22c and 24, enter amount owed ........ · . Overpayment. If line 23d is larger than the total of lines 22c and 24, enter amount overpaid •••••• 

Enter amount from line 26 Credited to 2010 estimated tax ~ I Refunded ~ 

7 27,692 

8 707 539 

9 5 279 

10 19 842 

11 70 486 

12 53 755 

13 8 364 

14 303,352 

15 

16 98 224 

17 

18 49~051 

19 1,483 334 

20 2 826,918 

21 571 024 

/;', 

22c 

" 

". 

t~?F 23d 

24 

25 

26 

27 

Under penalties of perill)', I declare that I have exarrined !tis re!JJn, including ~ schedtks and statements, and to the best of my knov.fedge and belief, it is 

true, correct, and COfTlJIete. Declaration of preparer (other than taxpayer) is based on aD information of 1M1ich preparer has any knoY,jedge. 

Sign May the IRS discuss this return 

Here ~ 104-01-201~ PRESIDENT v.<th the preparer shown bel<> 

F Signature of officer Date FTrt'e ~ -- (see instructions)? X Yes No 

Preparer's ~ I Date ) I Check if self- Preparer's SSN or PTIN 

Paid signature 04-01-2010 employed 

~. 

P00531251 

Preparer's Firm's name (or 

~ MCDONALD AND ASSOCIATES PC EIN 38-2529205 Use Only yours if self-employed), 2156 PLAINFIELD AVE NE address. and ZIP code GRAND RAPIDS MI 49505 Phone no. (616)447-8639 

For Privacy Act and Paperwork Reduction Act Notice, see separate instructions. EEA Form 11205 (2009) 
Form 1120S (2009) MARCECO LTD 38-3488505 Page 2 

I*' .L ' leA 1 Cost of Goods Sold (see instructions) 

1 Inventory at beginning of year 1 546 915 

2 Purchases 2 52 321 981 

3 Cost of labor 3 

4 Additional section 263A costs (attach statement) . 4 

5 Other costs (attach statement) ~~A:r~~E!'IT If ~ 5 143 200 

6 Total. Add lines 1 through 5 . 6 53 012 096 

7 Inventory at end of year 7 (45 414) 

8 Cost of goods sold. Subtract line 7 from line 6. Enter here and on page 1, line 2 8 53 057 510 -

9 a Check all methods used for valUing clOSing Inventory: (I) X Cost as descnbed In Regulations section 1.471·3 

(ii) Lower of cost or market as described in Regulations section 1.471-4 

(iii) Other (Specify method used and attach explanation.) • 

b Check if there was a writedown of subnormal goods as described in R~eg-U-:-la-ti-:-0-n-s-s-ec-ti::-0-n-:-1-:-4=-7-:-1--::2::-(C::-)----------------::- ~ • e Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) 

d If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of closing 

inventory computed under LIFO • . • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 

e If property is produced or acquired for resale, do the rules of section 263A apply to the corporation? 

Was there any change in determining quantities, cost, or valuations between opening and closing inventory? 

If "Yes," attach explanation. 

L~hedule B J Other Information ~~~e instructions) 

1 Check a=unting method: a _ Cash bX Accrual e -.-- Other (specify) 

2 See the instructions and enter the: • 

-- • 1 9d 1 

Yes X No -. Yes No 

Yes No 

a Business activity • SALES b Product or service • LONG DISTANCE 

3 At the end of the tax year, did the corporation own, directly or indirectly, 50% or more of the voting stock of a domestic 

corporation? (For rules of attIibution , see section 267(c).) If "Yes," attach a statement showing: (a) name and employer 

identification number (EIN), (b) percentage owned, and (e) if 100% owned, was a QSub election made? ............ . . .. .. .. .. X 

4 Has this corporation filed, or is it required to file, a retum under section 6111 to provide information on any reportable 

transaction? ... . . .. ...................................... .. .................................................. . .. ,,-1L - ~ 

5 Check this box if the corporation issued publicly offered debt instruments with original issue discount .. .. .. .. .. .. .. . • - -

If checked, the corporation may have to file Fonn 8281, Information Retum for Publicly Offered Original Issue Discount 

Instruments, 

6 If the corporation: (a) was a C corporation before it elected to be an S corporation or the corporation acquired an 

asset with a basis determined by reference to its basis (or the basis of any other property) in the hands of a 

C corporation and (b) has net unrealized built-in gain (defined in section 1374(d)(1)) in excess of the net recognized 

built-in gain from prior years, enter the net unrealized built-in gain reduced by net recognized built-in gain from prior 

years· •••••• . . ..................• $ 

7 Enter the accumulated eamings and profits of the corporation at the end of the tax year. $ 

8 Are the corporation's total receipts (see instructions) for the tax year and its total assets at the end of the tax year less 

than $250,000? If "Yes," the corporation is not required to complete Schedules Land M-1 .................... . . . .. .. .. .. .. X 

~ct1e e K I Shareholders' Pro Rata Share Items Total amount 

1 Ordinary business income (loss) (page 1, line 21) ... .. ........ 1 571, 024 

2 Net rental real estate income (loss) (attach Form 8825) · . . . . 2 

I 3a Other gross rental income (loss) ·1 3a 1 r-'--" .................... 

I n b Expenses from other rental activities (attach statement) ·1 3b 1 e e Other net rental income (loss). Subtract line 3b from line 3a 3e 0 

m 4 Interest income ................ 4 718 e 5 Dividends: a Ordinary dividends . 5a 

(L b Qualified dividends · 1 5b I 

U. I 0 6 Royalties· • .............. . s 7 Net short-term capital gain (loss) (attach Schedule D (Form 1120S» · . s) 8a Net long-term capital gain (loss) (attach Schedule D (Form 1120S» · . .. b Collectibles (28%) gain (loss) .......... A .......... ·1 8b 1 ' --I e Unrecaptured section 1250 gain (attach statement) · 1 8e 1 

9 Net section 1231 gain (loss) (attach Form 4797) i .. · . . . .. .............. . . 9 

10 Other income (loss) (see instructions) • . . Type~ 10 

EEA Form 11205 (2009) 
Form 1120S (2009) MARCECO LTD 38-3488502 Page 3 

Shareholders' Pro Rata Share Items (continued) Total amount 

11 Section 179 deduction (attach Form 4562) 11 243,500 

12a Contributions 12a 

Oedudions b Investment interest expense . 12b 

c Section 59(e)(2) expenditures (1)Type~ (2) Amount ~ 12<:(2) 

d Other deductions (see instructions) • Type~ 12d 

13a Low·income housing credit (section 42U)(5)) . 13a 

b Low-income housing credit (other) 13b 

c Qualified rehabilitation expenditures (rental real estate) (attach Form 3468) . 13c 

Credits d Other rental real estate credits (see instructions) • Type ~ 13d 

e Other rental credits (see instructions) • Type ~ 13e 

f Alcohol and cellulosic biofuel fuels credit (attach Form 6478) 13t 

9 Other credits (see instructions) · • Type ~ 139 

143 Name of country or U.S. possession ~ I 

b Gross income from all sources . 14b j c Gross income sourced at shareholder level 14c - _. Foreign gross income sourced at corporate level ! 

d Passive category 14d 

e General category . 14e 

f Other (attach statement) 14t 

Deductions allocated and apportioned at shareholder level I 

Foreign 9 Interest expense · i 149 

Trans- h Other· · actions Deductions allocated and apportioned at corporate level to foreign source income 

I :!J 

i Passive category . . . I General category 

k Other (attach statement) · . Other information ! --- -- I Total foreign taxes (check one): ~ Paid Accrued 141 - - m Reduction in taxes available for credit (attach statement) 14m 

Other foreign tax information (attach statement) 

1----. '---' n 

15a Post-1986 depreciation adjustment · · 15a (1 883) 

b Adjusted gain or loss 15b 

c Depletion (other than oil and gas) . 1Sc 

ax(AMT) d Oil, gas, and geothermal properties-gross income 15d 

e Oil, gas, and geothermal properties-deductions 15e 

f Other AMT items (attach statement) 1St 

1Sa Tax-exempt interest income . · · 1Sa 

b Other tax-exempt income . 1Sb 

c Nondeductible expenses . 1Sc 9 228 

d Property distributions 1Sd 

e Repayment of loans from shareholders . 1Se 

17a Investment income · 17a 718 

b Investment expenses 17b 

c Dividend distributions paid from accumulated eamings and profi1s . 17c 

d Other items and amounts (attach statement) STATEMENT # 18 i---,..-'- - "'-

! 

18 Incomenoss reconciliation. Combine the amounts on lines 1 through 10 in the far right 

column. From the result, subtract the sum of the amounts on lines 11 through 12d and 141 18 328 242 

EEA Form 11205 (2009) 
Fonn 1120S (2009) MARCECO LTD 38-3488505 Page 4 

I Schedule L I Balance Sheets per Books Beginning of tax year End of tax year 

Assets (a) (b) (c) 

1 Cash . . . ........................ 1 66 00 0 

2a Trade notes and accounts receivable 529 917 1, 142 755 

b Less allowance for bad debts · ( ) 529 917 ( ) ---, - _ .. 

3 Inventories .......................... ! 546,915 i 4 U.S. government obligations ........ i 

I ~ 

5 Tax-exempt securities (see instructions) · , 

I I , 

6 Other current assets (attach statement) FATEMENT. 19 6,145 

7 Loans to shareholders .............. 

8 Mortgage and real estate loans ........ 

9 Other investments (attach statement) ! , L... 

10 a Buildings and other depreciable assets 461 218 1 309 237 

b Less accumulated depreciation .. ( 195 049) 266 169 ( 290 281) 

11 a 

b 

12 

3a 

4 

5 

6 

7 

8 

9 

2 

2 

2 

23 

24 

0 

1 

2 

25 

26 

b 

Depletable assets .......... 

Less accumulated depletion . • · Land (net of any amortization) 

Intangible assets (amortizable only) 

Less accumulated amortization .. Other assets (attach statement) ••• 

Total assets· •••••••••••• .. Liabilities and Shareholders' Equity 

Accounts payable ...................... 

Mortgages, notes, bonds payable in less than 1 year 

Other current liabilities (attach statement) · Loans from shareholders ................ 

Mortgages, notes, bonds payable in 1 year or more · Other liabilities (attach statement) 

Capital stock . . ................ .. AddItional paId-In capItal •••••••••• 

Retained earnings ••••••••••••• 

Adjustments to shareholders' equity (attach statement) 

Less cost of treasury stock ••••••••• 

( ) 

( ) 

!STATEMENT. 21 94,448 

1 609 594 

, 

i 693 920 

421 608 

fTATEMENT #I 22 16 608 

11 076 

, 78 331 I 

388 051 

i 

27 Total liabilities and shareholders' equity • • • I 1 609 59 4 

( 

( 

'. 

t Schedule M-1 1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return 

) 

) 

, 

, 

, 

Note: Schedule M-3 required instead of Schedule M-1 if total assets are $10 million or more-see Instructions 

1 Net income (loss) per books .................. 775 146 5 Income recorded on books this year not 

2 Income included on Schedule K, lines 1, 2, 3c, 4, included on Schedule K, lines 1 through 

5a, 6, 7, 8a, 9, and 10, not recorded on books 10 (itemize): 

this year (itemize): a Tax-exemptinterest $ 

STATEMENT # 27 3,456 

3 Expenses recorded on books this year not 6 Deductions included on Schedule K, 

included on Schedule K, lines 1 through 12 and lines 1 through 12 and 141, not charged 

141 (itemize): against book income this year (itemize): 

a Depreciation $ a Depreciation $ 452[676 

b Travel and entertainment $ 9[228 

7 Add lines 5 and 6 .. .. .. .. .. .. . . . .......... 

9 228 8 Income (loss) (Schedule K, line 18). 

4 Add lines 1 through 3 . . .. .. .. .. .. .. .. .. 784 374 Line 4 less line 7 ............................ 

,------- ·- i:2l na IS 0 ccumua JUS ccou r us ccou an are 0 ers 

: Schedule M-2 Undistributed Taxable Income Previously Taxed (see instructions) 

A Iys fA I ted Ad tments A nt, Othe Adj tments A nt, d Sh h Id 

(d) 

425 678 

1 142 755 

( 45 414) 

2 000 

1 018,956 

94 448 

2 638 423 

1 297 367 

384 331 

23 716 

9 824 

78,331 

844,854 

2 638,423 

3,456 

452 1 676 

456 132 

328,242 

(a) Accumulated (b) Other adjustments (e) Shareholders' undistributed 

adjustments account account taxable income previously taxed 

1 Balance at beginning of tax year .............. 43 812 .. _-------- _ . 

2 Ordinary income from page 1, line 21 ......... 571, 024 I 

3 Other additions ........ • STATEMENT # 29. 718 

4 Loss from page 1 . line 21 .. .. .. .. .. .. .. .. .. .. ~ ( ) 

5 Other reductions ••••• STATE:MENT# :l0. ( 252,728)( ) 

6 Combine lines 1 through 5 .................. 362,826 

7 Distributions other than dividend distributions 318 216 

8 Balance at end of tax year. Subtract line 7 from line 6 44,610 

EEA Form 11205 (2009) 
Schedule K-1 2009 (Form 11205) For calendar year 2009, or tax 

Department of the Treasury year beginning ,2009 Intemal Revenue Service 

ending ,20 -

Shareholder's Share of Income, Deductions, 

Credits, etc. ~ See page 2 ~ form and ,..,.,...-insIructions. 

IPartI J Information About the Corporation 

A Corporation's employer identification nurrber 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO LTD 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center """"e corporation ffled return 

CINCINNATI 

I Part. I Information About the Shareholder 

D Shareho!del's identifying number 

E Shareholder's name, address, city, stale, and ZIP code 

DAVE DENHERDER 

600 BROADWAY NW APT 332B 

GRAND RAPIDS MI 49504 

F Shareho!del's percentage of stock 

ownership for tax year 20.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

0 

n 

I 

Y 

For PaperwaI< ReOOc:Iion I'd Notice. see 1nsfrudions for Foon 1120&. 

EEA 

% 

671109 Final K 1 - Amended K 1 - OMB No 1545-0130 

h>aitlD I Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 Ordinary business income Ooss) 13 Credits 

114 205 2 Net rental real estate income Ooss) 

I 3 Other net rental income Ooss) 

4 r Interest income 

! 144 Sa Ordinary dividends 

5b Qualified dividends 14 Foreign transactions 

6 Royalties 

7 Net short-lenn capital gain (loss) 

sa Net long-tenn capital gain (loss) 

8b Collectibles (28%) gain (loss) 

I &: Unrecaptured section 1250 gain 

9 Nel section 1231 gain (Joss) 

10 Other income Ooss) 15 I\llemative minimum tax (AMT) Items 

A (377) 

11 Section 179 deduction 16 ~ems affecting shareholder basis 

I 48.700 C 1,846 12 Other deductions 

17 Other information 

A 144 

K 835 

* See attached statement for additional information. 

Sche<kR K-1 (Form 11205) 2009 
Schedule K-1 

2009 (Form 11205) For calendar year 2009, or tax 

Department of the Treasury year beginning ,2009 Internal Revenue Service 

ending ,20 -

Shareholder's Share of Income, Deductions, 

Credits, etc. .. See page 2 d form a'Id sepEr.IlIe insN:ions. 

IParH! Information About the Corporation 

A C01pO!'8tion's employer identification nurrber 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO LTD 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center'Mlere corporation tiled return 

CINCINNATI 

I Pan I I Information About the Shareholder 

0 Shareholder's identifying nurroer 

E Shareholder's name, address, city, state, and ZIP code 

MARK DENHERDER 

736 FULTON ST NE APT 1 

GRAND RAPIDS MI 49503 

F Shareholder's percentage of stock 

O'M'lership for tax year 30.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

0 

n 

I 

Y 

FOf' Paperwotlc Redudion Iv:1. NoIice, see In!*£Iions for Form 1120& 

EEA 

% 

671109 Final K·1 Amended K·1 OMB No 1545-0130 

I Part HI I Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 Ordinary business income Ooss) 13 Credits 

171 307 2 I Net rental real estate income (loss) 

3 Other net rental income Ooss) 

4 Interest income 

215 

5a Ordinary dividends 

5b QuaJifIed dividends 14 Foreign transactions 

, 6 Royalties 

7 Net short·term capital gain Qoss) 

8a Net long-term capital gain Qoss) 

8b Collectibles (28%) gain (loss) 

8c Unrecaptured section 1250 gain 

9 Net section 1231 gain (loss) 

10 Other income (loss) 15 Alternative minimum tax (AMT) items 

A (565 ) 

11 Section 179 deduction 16 Items affecting shareholder basis 

73 050 C 2,768 12 Other deductions 

17 Other information 

A 215 

K 1,253 

• See attached statement for additional infonnation, 

Sche<Me K-1 (Form 1120S) 2009 
Schedule K-1 2009 (Form 11205) For calendar year 2009, or tax 

Department af the TreaStJ)' year beginning ,2009 Internal Revenue Se!Vice 

ending ,20 -

Shareholder's Share of Income, Deductions, 

Credits, etc. .. See page 2 at bm and sep!II3Ie irSucIiIlns, 

!Pattl"j Information About the Corporation 

A Coq>oration's employer identification nun1ler 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO LTD 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center v.tlere corporation filed return 

CINCINNATI 

IPartil Information About the Shareholder 

0 Shareholder's identifying number 

E Shareholde~s name, address, city, state, and ZIP code 

RUTH DENHERDER 

740 S FEDERAL ST APT 908 

CHICAGO IL 60605 

F Shareholdel's percentage af stock 

O'M1ership for tax year 30.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

0 

n 

I 

Y 

For Pape!wIlrt< Redo:don Ad NoIice. see hslndons for Form 1120S. 

EEA 

% 

671109 Final K 1 - AmendedK -1 OMS No 1545-0130 

!Partlrl Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 I Ordinary business income Ooss) 13 Credits 

! 171, 307 2 I Net rental real estate income Ooss) 

I 

3 Other net rental income Ooss) 

4 Interest income 

215 Sa Ordinary dividends 

5b Qualified dividends 14 Foreign transactions 

6 Royalties 

7 Net short-term capital gain Ooss) 

Sa Net long-term capital gain (loss) 

lib CoDectibies (28%) gain (loss) 

&: Unrecaptured section 1250 gain 

9 Net section 1231 gain (loss) 

10 Other income Ooss) 15 Memative minimum tax (AMT) items 

A (565 ) 

11 Section 179 deduction 16 Items affecting shareholder basis 

73 050 C 2,768 12 Other deductions 

17 Other information 

A 215 

K 1,253 

• See attached statement for additional information. 

Sdle<klIe 1(.1 (Form 11208) 2009 
Schedule K-1 2009 (Form 11205) For calendar year 2009. or tax 

Department of the Treasury year beginning .2009 Internal Revenue Service 

ending .20 -

Shareholder's Share of Income, Deductions, 

Credits, etc. ~ See page 2 affmn :nI separ;IIe insIrucIims. 

learrri Information About the Corporation 

A Corporation's erllJ/Oyer identitication nun1ler 

38-3488505 

B Corporation's name, address, city. state, and ZIP code 

MARCECO LTD 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center W1er"e corporatioo tiled return 

CINCINNATI 

IPartil Information About the Shareholder 

0 Shareholder's identifying nurrber 

E Shareholder's name, address, city. state, and ZIP code 

JAMAL AQEL 

10891 CHEYENNE TRAIL 

GRAND RAPIDS MI 49544 

F Shareholder's percentage of stock 

O'M1ership for tax year 20.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

0 

n 

I 

Y 

For PapenooI< ReWcIion M NaIice, see flsIru::Iions fur Fcnn 11208. 

EEA 

% 

671109 Final K-1 Amended K-1 OMS No 1545-0130 

I Part. I Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 Ordinary business income Ooss) 13 Credits 

114 205 2 Net rental real estate income (loss) 

3 Other net rental income (loss) 

4 Interest income 

144 Sa Ordinary dividends 

51> Qualffied dividends 14 Foreign transactions 

6 Royalties 

7 Net short-term capital gain Ooss) 

Sa Net long-term capital gain (/oss) 

8b Collectibles (28%) gain (/oss) 

Be Unrecaptured section 1250 gain 

9 Net section 1231 gain (/oss) 

10 Other income (loss) 15 ~;~~ative minimum tax (AMT) 

A (376) 

11 Section 179 deduction 16 /tems affecting shareholder basis 

48 700 C 1,846 12 Other deductions 

17 Other information 

A 144 

K 836 

* See attached statement for additional information. 

Schedule K-1 (F0fTI11120S) 2009 
S CORPORAllONIPARTNERSHP NAME 

MARCECO LTD 

Description 

Casualty or theft 

AUTO 

TOTALS 

NET GAIN(LOSS) 

Date Acquired 

Date Sold 

08-15-2005 

08-15-2009 

Section 179 Disposition Statement 

(Keep for your records) 

Cost or basis plus Gross 

sales price improvements and 

expense of sale 

4,177 1,400 

4,177 1,400 

4,177 

2009 

BN 

38-3488505 

Depreciation 

allowed 

or allowable 

AMT Depreciation 

1,400 

1,400 

Amount of section 

179 expense 

deduction 

Tax year section 

179 expense 

taken 

1,400 

2005 

1,400 
Shareholder: DAVE DENHERDER 

Percentage: 20% 

S CORPORAllONIPARllERSHP NAME 

MARCECO LTD 

Description 

Casualty or theft 

AUTO 

TOTALS 

NET GAIN(LOSS) 

WK_179.LO 

Date Acquired 

Date Sold 

08-15-2005 

08-15-2009 

Section 179 Disposition Statement 

(Keep for your records) 

Cost or basis plus Gross 

sales price improvements and 

expense of sale 

835 280 

835 280 

835 

SSN/EIN: 

2009 

8N 

38-3488505 

Depreciation 

allowed 

or allowable 

AMT Depreciation 

280 

280 

Amount of section 

179 expense 

deduction 

Tax year section 

179 expense 

taken 

280 

2005 

280 
Shareholder: MARK DENHERDER 

Percentage: 30% 

S CORPORATlONIPARTNERSI-IP NME 

MARCECO LTD 

Description 

casualty or theft 

AUTO 

TOTALS 

NET GAIN (LOSS) 

Date Acquired 

Date Sold 

08-15-2005 

08-15-2009 

Section 179 Disposition Statement 

(Keep for your records) 

Cost or basis plus Gross 

sales price improvements and 

expense of sale 

1,253 420 

1,253 420 

1,253 

SSN/EIN: 

2009 

ElN 

38-3488505 

Depreciation 

allowed 

or allowable 

AMT Depreciation 

420 

420 

Amount of section 

179 expense 

deduction 

Tax year section 

179 expense 

taken 

420 

2005 

420 
Shareholder: RUTH DENHERDER 

Percentage: 30% 

S CORPORATIONIPARlNERStIP NAME 

MARCECO LTD 

Description 

Casualty or theft 

AUTO 

TOTALS 

NET GAIN (LOSS) 

Date Acquired 

Date Sold 

08-15-2005 

08-15-2009 

Section 179 Disposition Statement 

(Keep for your records) 

Cost or basis plus Gross 

sales price improvements and 

expense of sale 

1,253 420 

1,253 420 

1,253 

SSN/EIN: 

2009 

EIN 

38-3488505 

Depreciation 

allowed 

or allowable 

AMT Depreciation 

420 

420 

Amount of section 

179 expense 

deduction 

Tax year section 

179 expense 

taken 

420 

2005 

420 
Shareholder: JAMAL AQEL 

Percentage: 20% 

S CORPORATIONIPARTlIERSI-IP NAME 

MARCECO LTD 

Description 

Casualty or theft 

AUTO 

TOTALS 

NET GAIN (LOSS) 

Date Acquired 

Date Sold 

08-15-2005 

08-15-2009 

Section 179 Disposition Statement 

(Keep for your records) 

Cost or basis plus Gross 

sales price improvements and 

expense of sale 

835 280 

835 280 

835 

SSN/EIN: 

2009 

aN 

38-3488505 

Depreciation 

allowed 

or allowable 

AMT Depreciation 

280 

280 

Amount of section 

179 expense 

deduction 

Tax year section 

179 expense 

taken 

280 

2005 

280 
Form 4562 Depreciation and Amortization 

(Including Information on Listed Property) 

Department 01 the Treasury 

Internal Revenue Service (99) ~ See separate instructions. ~ Attach to your tax return. 

L~ Election To Expense Certain Property Under Section 179 

Note: If you have any listed property, complete Part V before you complete Part I. 

1 Maximum amount. See the instructions for a higher limit for certain businesses ... 

2 Total cost of section 179 property placed in service (see instructions) .............. 

3 Threshold cost of section 179 property before reduction in limitation (see instructions) 

4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0- ........ 

5 Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less. enter -0-. If married filing 

separately, see instructions .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . . ............ 

1 

2 

3 

4 

5 

(a) Description of property (b) Cost (business use only) (e) Elected cost 

6 STATEMENT # 50 149 547 

7 Listed property. Enter the amount from line 29 ................................ I 7 93 953 

8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 8 

9 Tentative deduction. Enter the smaller of line 5 or line 8 ................................ - 9 

10 Carryover of disallowed deduction from line 13 of your 2008 Form 4562 ................ 10 

11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 (see instructions) 11 

12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 .................. 12 

13 Carryover of disallowed deduction to 2010. Add lines 9 and 10, less line 12 ~I13 

Note: Do not use Part II or Part III below for hsted property. Instead, use Part V. 

i 

, 

OMB No. 1545-0172 

2009 

Attachment 

Sequence No. 67 

IdenIit}<i1g rurtJer 

38-3488505 

250 000 

806 500 

800 000 

6 500 

2 43 , 500 

243 500 

243,500 

243 500 

243, 500 

! Part II ; SDecial DeDreciation Allowance and Other DeDreciation (Do not include listed property.) (See instructions.) 

14 Special depreciation allowance for qualified property (other than listed property) placed in service 

during the tax year (see instructions) . . . . 14 14 876 

15 Property subject to section 168(f)(1) election . . 15 

16 Other depreciation (including ACRS) . . . . . . 16 

f Part III I MACRS DeDreciation (Do not include listed property.) (See instructions.) 

Section A 

17 MACRS deductions for assets placed in service in tax years beginning before 2009 ••••••••••• ._!~ .. .L.. __ ._ .. . 5, 914 

18 If you are electing to group any assets placed in service during the tax year into one or more general 

asset accounts, check here •• • ••••••••• • •• - • - • • • • • • • • • • • • • • • • ~ 

Section B - Assets Placed in Service During 2009 Tax Year Using the General Depreciation System 

(a) Classification of property 

(b) Month and (.C) Basis for depreciation (d) Recovery year placed (e) Convention (f) Method (g) Depreciation deduction in (businesslinvestment use 

service only-see instructions) period 

19a 3-year property 

b 5-year property 

c 7 -year property I I 

d 1 O-year property 14,875 10 MQ 200 DB 1 859 e 15-year property 

f 20-year property 

g 25-year property 25 yrs. Sil 

h Residential rental 27.5 yrs. MM S/L 

property 27.5 yrs. MM S/L 

i Nonresidential real 39 yrs. MM S/L 

property MM Sil 

Section C - Assets Placed in Service Dunng 2009 Tax Year USing the AHernatlve DepreclatJon System 

I -

I 20a Class life Sil 

b 12-year I I 12 yrs. Sil 

c 40-year I I 40 yrs. MM Sil 

~ ! SummarY (see instructions) 

21 Listed property. Enter amount from line 28 ............................ .............. .................. .. 21 280 703 

22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here 

and on the appropriate lines of your retum. Partnerships and S corporations - see instructions ............ 22 303 , 352 

23 For assets shown above and placed in service during the current year, enter the I ' portion of the basis attributable to section 263A costs . . .... .... ............ 23 : I 

For Paperwork Reduction Act Notice, see separate instructions. EEA Fonn 4562 (2009) 
Form 4562 (2009) MARCECO LTD 38-3488505 

I Partvl Listed Property (Include automobiles, certain other vehicles, cellular telephones, certain computers, and 

property used for entertainment, recreation, or amusement.) 

Note: For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 

24b, columns (a) through (c) of Section A, all of Section S, and Section C if applicable. 

Section A - Depreciation and Other Infonnation (Caution: See the instructions for limits for passenger automobiles.) 

24a Do you have evidence to support the businesslinvestment use daimed? Y es N 0 i 24b If"Y es, ". IS th'd eevi encewn 'tt? en. 

(a) (Il) (e) (d) (e) Business! (I) (g) (h) Basis for depredation Type of property (list Date placed in investment Cost or other Recovery Method! Depreciation 

vehides first) service use basis (businesslinvestment period Convention deduction percentage use only) 

25 Special depreciation allowance for qualified listed property placed in service during the 

tax year and used more than 50% in a qualified business use (see instructions) . . . .......... ••• / 25 266 625 

26 Property used more than 50% In a qualified bUSiness use: 

MAZDA 3 ~00908ll5 100 % 19 454 9 727 5 200 DB-MQ 1 233 

CIRRUS 2009ll0(29 100 % 607 748 256 897 5 200 DB-MQ 12 845 

I I % 

27 Property used 50% or less In a qualified bUSiness use' 

! I % SILI I % SILI I % SIL28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 ·1 28 280,703 

29 Add amounts in column (i), line 26. Enter here and on line 7, page 1 ............ .. ...... .... ·1 29 

Section B -Infonnation on Use of Vehicles 

Page 2 

Y es N 0 

(i) 

Elected 

section 179 

cost 

93 953 

93 953 

Complete this section for vehicles used by a sole proprietor, partner, or other "more than 5% owner," or related person. If you provided vehicles 

to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles. 

30 Total businesslinvestment miles driven (a) (Il) (e) (d) (e) 

during the year (do not include Vehide 1 Vehide 2 Vehide3 Vehide4 Vehide 5 

commuting miles) .................... · .. 31 Total commuting miles driven during the year 

32 Total other personal (noncommuting) 

miles driven .. . . .. .. .. .. .. .. .. .. .. · .. 33 Total miles driven during the year. Add 

lines 30 through 32 .. .. .. .. .. .. .. .. .. · .. 34 Was the vehicle available for personal Yes No Yes No Yes No Yes No Yes No 

use during off-duty hours? .. .. .. .. .. · . 35 Was the vehicle used primarily by a 

more than 5% owner or related person? · . 36 Is another vehicle available for personal 

use?· •••••• . . . . . .. .. .. .. .. · . Section C - Questions for Employers Who Provide Vehicles for Use by Their Employees 

Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are not 

more than 5% owners or related persons (see instructions) 

37 Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by 

your employees? ................................ It .......... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .............. 

38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your 

employees? See the instructions for vehicles used by corporate officers, directors, or 1 % or more owners 

39 Do you treat all use of vehicles by employees as personal use? .................... .. .. .. .. .. .. .. .. .. .. .. 

40 Do you provide more than five vehicles to your employees, obtain information from your employees about the 

use of the vehicles, and retain the information received? .............................................. 

41 Do you meet the requirements concerning qualified automobile demonstration use? (See instructions.) 

Note: If your answer to 37, 38, 39,40, or 41 is "Yes," do not complete Section B for the covered vehicles. 

! Lfm VI l Amortization 

(Il) (e) (d) (e) 

(I) 

Vehide 6 

Yes No 

Yes No 

(f) I (a) Date amortization Amortizable amount Code section Amortization Amortization for this year Description of costs period or begins i percentage 

42 Amortization of costs that beginS dunng your 2009 tax year (see instructions): 

GOODWILL 12009-01-011 26,000 lAMT 1 ! 1 

43 Amortization of costs that began before your 2009 tax year 

44 Total. Add amounts in column (f). See the instructions for where to report 

EEA 

.. 
Form 11205 

Department of the Treasury 

Intemal Revenue Service 

U.S. Income Tax Return for an S Corporation ~ Do not file this form unless the corporation has filed or is 

attaching Form 2553 to elect to be an 5 corporation. 

~ See separate instructions. 

For calendar year 2008 or tax year beginning 2008 ending 

A S election effective date Use 

Name 

09-01-1999 IRS MARCECO LTD 

B Business activity code label. Number, stree~ and room or suite no. If a P.O. bcx. see instructions. number (see instructions) Other454210 wise, 3542 ROGER B CHAFFEE SE 

C Check if Sch. M-3 print or City or town, state. and ZIP code 

attached type. GRAND RAPIDS MI 49548 

OMB No. 1545-0130 

2008 

,20 

o ~ idenIiIication runber 

38-3488505 

E Date incorporated 

09-01-1999 

F Total assets (see instructions) 

$ 1 265 355 

G Is the corporation electing to be an S corporation beginning with this tax year? Yes ,X. No If '''{ es." attach Form 2553 if not already fried 

H Check if: (1) Final return (2) Name change (3) ~ Address change - (4) Amended return (5) S election termination or revocation 

Enter the number of shareholders who were shareholders during any part of the tax year .~ 4 

Caution. Include only trade or business income and expenses on lines 1 a through 21. See the instructions for more information 

1 a Gross receipts or sales I 32 852,328 I bLess retums and allowances I 1 938 IcBal~ 1c 32 L 850,390 

Income 

Deductions 

(see 

instructions for 

limitations) 

T ax 

a nd 

P aym ents 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22a 

b 

c 

23a 

b 

c 

d 

24 

25 

26 

27 

Cost of goods sold (Schedule A, line 8) .. .. .. .. .. .. .. .. .. .. .. .. 

Gross profit. Subtract line 2 from line 1 c .................... .- · Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797) 

Other income (loss) (see instructions - attach statement) • ~l;AJt;~E!'IT 'II 1 . 

Total income (loss). Add lines 3 through 5 .~ 

Compensation of officers .. .. .. .. .. .. .. .. · . Salaries and wages (less employment credits) 

Repairs and maintenance · . Bad debts ... . · · · Rents ............ . · · 

Taxes and licenses · ~~T_~~. 

Interest .. .. .. .. .. · .. · · . · Depreciation not claimed on Schedule A or elsewhere on return (attach Form 4562) 

Depletion (Do not deduct oil and gas depletion.) . · · · · Advertising .................. · . · · · Pension, profit-sharing, etc., plans · · Employee benefit programs . . . . . . . · · . Other deductions (attach statement) . • ~l;AJE;~E!'IT 'II 4 

Total deductions. Add lines 7 through 19 · ~ 

Ordinary business income (loss). Subtract line 20 from line 6 .. Excess net passive income or LIFO recapture tax (see instructions) · · 22a 

Tax from Schedule D (Form 1120S) ................................ 22b 

Add lines 22a and 22b (see instructions for additional taxes) ........ · · .. .. .................. 

2008 estimated tax payments and 2007 overpayment credited to 2008 23a 

Tax deposited with Form 7004 ...................... · 23b 

Credit for federal tax paid on fuels (attach Form 4136) . · 23c 

Add lines 23a through 23c . . ................. · · · .. . . · .... Estimated tax penalty (see instructions). Check if Form 2220 is attached · .. .. .~ = 

Amount owed. If line 23d is smaller than the total of lines 22c and 24, enter amount owed · · .. . . Overpayment If line 23d is larger than the total of lines 22c and 24, enter amount overpaid •••••• 

Enter amount from line 26 Credited to 2009 estimated tax ~ I Refunded ~ 

2 30 856 454 

3 1 993 936 

4 

5 13 624 

6 2,007 560 

7 30 000 

8 426 443 

9 1 234 

10 187 799 

11 55,459 

12 43 644 

13 24 321 

14 15 193 

15 

16 

17 

18 31 058 

19 854 482 

20 1 669 633 

21 337,927 

22c 

i~:~ ,.' 

23d 

24 

25 

26 

27 

Under penalties of perjury, I declare that I have examined this return, induding accompanying schedules and statements, and to the best of my knowledge and belief, it is 

true, comect and COOlpiete. Declaration of prepare< (other than taxpayer) is based on all information of which preparer has any knowledge. 

Sign May the IRS discuss this retum 

Here ... 106-04-200S\. PRESIDENT with the preparer shown belo, .- r Signature of officer Date rTitle (see Instructions)? X Yes No 

Paid Preparer's 

.~ 1 Date ,I Check if self- Preparer's SSN or PTIN 

signature 06-04-2009 employed ~. P00531251 

Preparer's Firm's name (or ~ MCDONALD AND ASSOCIATES PC EIN 38-2529205 

Use Only yours if self-employed), 2156 PLAINFIELD AVE NE 

address, and ZIP code GRAND RAPIDS MI 49505 Phone no. (616)447-8639 

For Privacy Act and Paperwork Reduction Act Notice, see separate instructions. EEA Fonn 11205 (2008) 
Form 1120S (2008) MARCECO LTD 38-3488505 Page 2 

I C! ......... '"' , lie A I Cost of Goods Sold (see instructions) 

1 Inventory at beginning of year . . . 1 319 508 

2 Purchases · . 2 31 016 362 

3 Cost of labor · . 3 

.. Additional section 263A costs (attach statement) .. 5 Other costs (attach statement) ?~A:rS~E~T f! ~ 5 67 499 

6 Total. Add lines 1 through 5 6 31 403 369 

7 Inventory at end of year · . 7 546 915 

8 Cost of goods sold. Subtract line 7 from line 6. Enter here and on page 1, line 2 8 30 856,454 ---- 9 a Check a" methods used for valUing closing Inventory: (I) X Cost as descnbed In Regulations section 1.471 -3 

(ii) Lower of cost or market as described in Regulations section 1.471-4 

(iii) Other (Specify method used and attach explanation.) ~ _________________________ ~~ 

b Check if there was a writedown of subnormal goods as described in Regulations section 1.471-2(c) 

e Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) 

d If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of closing 

-. 

-. 

inventory computed under LIFO . • • . • • • . • • • • • • • • • • • • • • • • • . • • • • • • • • • •. 1..1 _9_d-'-I ____ ~-~_--

e If property is produced or acquired for resale, do the rules of section 263A apply to the corporation? 

Was there any change in determining quantities, cost, or valuations between opening and closing inventory? 

If ''Yes,'' attach explanation. 

I Schedule B 1 Other Information (see instructions) 

1 Check accounting method: a Cash ---- b X Accrual e ,~. : Other (specify) ~ 

2 See the instructions and enter the: 

Yes .X No ,-_. Yes No 

Yes No ... _-

a Business activity ~SALES b Product or service ~ LONG DISTANCE 

3 At the end of the tax year, did the corporation own, directly or indirectly, 50% or more of the voting stock of a domestic 

corporation? (For rules of attribution, see section 267(c).) If "Yes," attach a statement showing: (a) name and employer 

identification number (EIN), (b) percentage owned, and (e) if 100% owned, was a QSub election made? .. .. .. .. .. .. ............ X 

4 Has this corporation filed , or is it required to file, a retum under section 6111 to provide information on any reportable 

transaction? .................... .. .. .. .. .. .. .. .. .. .. .. · . .. .................................. .. .................. .. ...... X --. 5 Check this box if the corporation issued publicly offered debt instruments with original issue discount ........ .. .... ~ ,-

If checked , the corporation may have to file Fonn 8281, Information Retum for Publicly Offered Original Issue Discount 

Instruments. 

6 If the corporation: (a) was a C corporation before it elected to be an S corporation or the corporation acquired an 

asset with a basis determined by reference to its basis (or the basis of any other property) in the hands of a 

C corporation and (b) has net unrealized built-in gain (defined in section 1374(d)(1» in excess of the net recognized 

built-in gain from prior years, enter the net unrealized built-in gain reduced by net recognized built-in gain from prior 

years· ••••• . . .. .................. .. .. .. .. .. .. .. ~ $ 

7 Enter the accumulated eamings and profits of the corporation at the end of the tax year. $ 

8 Are the corporation's total receipts (see instructions) for the tax year and its total assets at the end of the tax year 

less than $250,OOO? If ·Yes," the corporation is not required to complete Schedules Land M-1 . . . .. .. .. .. .............. X 

I Schedule K 'I Shareholders' Pro Rata Share Items Total amount 

1 Ordinary business income (loss) (page 1, line 21) · . . . .. .. .. .. .. · . 1 3371.927 

2 Net rental real estate income (loss) (attach Form 8825) ... . . · . 2 

, 3a Other gross rental income (loss) .................... · 1 3a 1 n b Expenses from other rental activities (attach statement) ., 3b , I 

e e Other net rental income (loss). Subtract line 3b from line 3a 3e a 

m .. Interest income .. .......... . . . · . 4 

e 5 Dividends: a Ordinary dividends Sa 

(L b Qualified dividends ·1 5b I 0 6 Royalties ........ a .... . .. · . 

U. I s 7 Net short-tenm capital gain (loss) (attach Schedule 0 (Form 1120S» · . s) 8a Net long-term capital gain (loss) (attach Schedule D (Form 1120S)) · . b CoUectibles (28%) gain (loss) • , 8b I I .............. I I e Unrecaptured section 1250 gain (attach statement) . / 8e / 

9 Net section 1231 gain (loss) (attach Form 4797) · I ... . . · .. . . . ........ 9 

10 Other income (loss) (see instructions) • . • Type~ 10 

EEA Form 11205 (2008) 
Form 1120S (2008) MARCECO LTD 

Oeructions 

Credits 

F oreq, 

T ransactions 

AJIemaIive 

M inimum 

T ax(AMT) 

Item s 

Items 

AIreding 

Shareholder 

Basis 

Other 

InfamaIion 

R econciiaIion 

EEA 

11 

12a 

b 

c 

d 

13a 

b 

c 

d 

e 

f 

9 

14a 

b 

c 

d 

e 

f 

9 

h 

i 

j 

k 

1 

m 

n 

15a 

b 

e 

d 

e 

f 

16a 

b 

c 

d 

e 

17a 

b 

e 

d 

18 

Shareholders' Pro Rata Share Items (continued) 

Section 179 deduction (attach Form 4562) 

Contributions 

Investment interest expense . Section 59(e)(2) expenditures (1)Type .. (2) Amount .. 

Other deductions (see instructions) · • Type" 

Low-income housing credit (section 42(j)(5)) 

Low-income housing credit (other) · Qualified rehabilitation expenditures (rental real estate) (attach Form 3468) 

Other rental real estate credits (see instructions) • Type .. 

Other rental credits (see instructions) • Type .. 

Alcohol and cellulosic biofuel fuels credit (attach Form 6478) 

Other credits (see instructions) . · • Type .. 

Name of country or U.S. possession .. Gross income from all sources · Gross income sourced at shareholder level 

Foreign gross income sourced at corporate level 

Passive category 

General category 

Other (attach statement) 

Deductions allocated and apportioned at shareholder level 

Interest expense 

Other· . Deductions allocated and apportioned at corporate level to foreign source income 

Passive category 

General category . . Other (attach statement) . . . Other information ---- ---- Total foreign taxes (check one): .. Paid Accrued - -- Reduction in taxes available for credit (attach statement) 

Other foreign tax information (attach statement) . Post-1986 depreciation adjustment 

Adjusted gain or loss 

Depletion (other than oil and gas) 

Oil, gas, and geothermal properties-gross income 

Oil, gas, and geothermal properties-deductions 

Other AMT items (attach statement) 

Tax-exempt interest income 

Other tax-exempt income . . . Nondeductible expenses 

Property distributions 

Repayment of loans from shareholders 

Investment income 

Investment expenses 

Dividend distributions paid from accumulated earnings and profits 

Other items and amounts (attach statement) 

Incomenoss reconciliation. Combine the amounts on lines 1 through 10 in the far right 

column. From the result, subtract the sum of the amounts on lines 11 through 12d and 141 

38-3488505 Page 3 

Total amount 

11 108 104 

12a 

12b 

12c(2) 

12d 

13a 

13b 

13c 

13d 

13e 

131 

139 

14b 

14c 

14d 

14e 

14f 

,," 

149 

14h 

! 

141 

14j 

14k 

141 

14m 

. ' 

..... 

15a (3 138) 

15b 

15e 

15d 

15e 

15f 

16a 

16b 

16e 5 811 

16d 

16e 

17a 

17b 

17e 

,.-'" . 

18 229 823 

Form 11205 (2008) 
Form 1120S (2008) MARCECO LTD 

Lschedule L I Balance Sheets per Books 

Assets 

1 Cash . . . ........................ 

2a Trade notes and accounts receivable 

b Less allowance for bad debts 

3 Inventories .......................... 

4 U.S. government obligations ........ . 5 Tax-exempt securities (see instructions) 

6 Other current assets (attach statement) 

7 Loans to shareholders ................ 

8 Mortgage and real estate loans • • • • 

9 Other investments (attach statement) • 

10 a Buildings and other depreciable assets 

b Less accumulated depreciation • 

11 a Depletable assets ••••••• 

b Less accumulated depletion • • • 

12 Land (net of any amortization) 

13 a Intangible assets (amortizable only) 

b Less accumulated amortization 

14 Other assets (attach statement) 

15 Total assets· ••••••••• 

Liabilities and Shareholders' Equity 

. 

16 Accounts payable ••••••••••• 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

Mortgages, notes, bonds payable in less than 1 year 

Other current liabilities (attach statement) 

Loans from shareholders 

Mortgages, notes, bonds payable in 1 year or more 

Other liabilities (attach statement) 

Capital stock • • • • • • 

Additional paid-in capital •••• 

Retained eamings ••••••• 

Adjustments to shareholders' equity (attach statement) 

Less cost of treasury stock •••••••• 

38-3488505 Page 4 

Beginning of tax year End oftax year 

(a) (b) (c) (d) 

49 112 166 000 

612 265 ", 529 917 

) 612,265 ( ) 529 917 

319 508 546 915 , 

I i 

;1 I I 

5,791 J 6,145 ,,',: I 

68 868 I I 149 206 ,0 I 

333 268 455 291 

318 811) 1 4 4 7 442 108) 13 183 

,, ----------~--------------~------------~r---------------

3 195 

1 219 207 1 2 65 355 

600 149 693,920 

421,608 

16,608 

I 516 830 

jsTATEMENT' 22 

I 28 734 11. 076 

78 331 78 331 

43 812 I (4, 837~ 1 

Ie . 1,265,355 

tScheduieM-1 I Reconciliation of Income (Loss) per Books With Income (Loss) per Return 

Note: Schedule M-3 required instead of Schedule M-1 if total assets are $10 million or more-see instructions 

1 Net income (loss) per books ...... .. .......... 224 012 5 Income recorded on books this year not 

2 Income included on Schedule K, lines 1, 2, 3c, 4, included on Schedule K. lines 1 through 

5a, 6, 7, 8a, 9, and 10, not recorded on books 10 (itemize): 

this year (itemize): a Tax-exempt interest $ 

3 Expenses recorded on books this year not 6 Deductions included on Schedule K, lines 

included on Schedule K, lines 1 through 12 1 through 12 and 141 , not charged against 

and 141 (itemize): book income this year (itemize): 

a Depreciation $ a Depreciation $ 

b Travel and entertainment $ 5,811 

7 Add lines 5 and 6 .. .. .. .. .. .. .. .. .. .......... 

5,811 8 Income (loss) (Schedule K, line 18). 

4 Add lines 1 through 3 ........................ 229,823 Line 4 less line 7 . .. .. .. .. .. .. .. .. .. .. .. 229 823 

Ana sis of Accumulated Ad'usbnents Account, Other Ad'ustments Accou and Shareholders' 

Lschedule M-2 1 Iy 

U dis "but T bIe I IyT 

nt, 

n tri ed axa ncome Previous axed (see instructions) 

(a) Accumulated (b) Other adjustments (c) Shareholders' undistributed 

adjustments account account taxable income previously taxed 

1 Balance at beginning of tax year .. . (4 837) 

! ---_. 2 Ordinary income from page 1, line 21 337 927 

3 Other additions . . .. .. .......... .. .. 

J 4 Loss from page 1, line 21 ... .. ...... ( ) . ' 

5 Other reductions • . • • • STATE:MEN11t :l0. ( 113 L 915) ( 

6 Combine lines 1 through 5 .................. 219 175 

7 Distributions other than dividend distributions 175 363 

8 Balance at end of tax year. Subtract line 7 from Hne 6 43 812 

EEA Form 11205 (2008) 
Schedule K-1 2008 (Form 11205) For calendar year 2008, or tax 

Department of the Treasury year beginning ,2008 Intemal Revenue Service 

ending ,20 --

Shareholder's Share of Income, Deductions, 

Credits, etc. ~ See page 2 c:lfurm and sepaaIe insIructions. 

!~arU! Information About the Corporation 

A Corporation's employer identification number 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO LTD 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Certer where corporation filed return 

CINCINNATI 

IhrtDI Information About the Shareholder 

0 Shareholders identifying number 

E Shareholder's name, a<hlr1!SS, t.r~, and ZIP code 

DAVE DENHERDER 

600 BROADWAY NW APT 332B 

GRAND RAPIDS MI 49504 

F Shareholders percentage 01 stock 

0wnership for tax year .. . .. . ............ 20.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

0 

n 

I 

y 

For PapeIwork Reduction Ad Naice, see InsIrudims A:lr Foon 1120S. 

EEA 

% 

671108 FinalK -1 Amended K 1 - OMB , No 1545-0130 

IPanDlI Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 I Ordinary business income (loss) 13 Credits 

I 67 585 2 I Net rental real estate income (loss) 

I 

I 

3 Other net rental income (loss) 

4 Interest income 

Sa Ordinary dividends 

5b Qualified dividercts 14 Foreign transactions 

6 Royalties 

7 I Net short-tenm capital gain (loss) 

Sa Net long-term capital gain (loss) 

8b Collectibles (28%) gain (loss) 

Be Unrecaptured section 1250 gain 

9 Net section 1231 gain (loss) 

10 Other income (loss) 15 Memative minimum tax (AMT) items 

A (628) 

11 Section 179 deducton 16 Items affecting shareholder basis 

21 621 C 1,162 12 Other deductions 

17 Other infonmation 

• See attached statement for additional information, 

Sche<iIIe K-1 (Form 112(5) 2008 
Schedule K-1 

2008 (Form 11205) For calendar year 2008, or tax 

Department of the Treasury year beginning ,2008 Intemal Revenue Service 

ending ,20 -

Shareholder's Share of Income, Deductions, 

Credits, etc. ~ See page 2 affam and separate insIrudions. 

[Parttl Information About the Corporation 

A Corporation's employer identification number 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO LTD 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center where corporation filed return 

CINCINNATI 

IPartlll Information About the Shareholder 

0 Shareholder's identifying number 

E Shareholder's narne, address, city, state, and ZI P code 

MARK DENHERDER 

736 FULTON ST NE APT 1 

GRAND RAPIDS MI 49503 

F SNrr~d~s~mgect~~ 

ownership for tax year .. .. . .. .............. 30.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

0 

n 

I 

y 

For Paperwak Reruction Act Notice, see k'IsIrudions for Form 1120S. 

EEA 

% 

671108 Final K-l Amended K-l OM8 No 1545-0130 

!Partllli Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 Ordinary business income (loss) 13 Credits 

101 378 2 Net rental real estate income (loss) 

3 Other net rental income (loss) 

4 Interest income 

Sa Ordinary dividends 

5b Qualified dividends 14 Foreign transactions 

6 Royalties 

7 Net short-term capital gain (loss) 

Sa Net long-term capital gain (loss) 

8b Collectibles (28%) gain (loss) 

8c U nrecaptured section 1250 gain 

9 Net section 1231 gain (loss) 

10 Other income (loss) 15 Alternative minimum tax (AMT) Items 

A (941) 

11 Section 179 deduction 16 Items affecting shareholder basis 

32 431 C 1,743 12 Other deductions 

17 Other informatlon 

* See attached statement for additional information. 

~K-1 (Ferm 1120S)2OOB 
Schedule K-1 

2008 (Form 11205) F or calendar year 2008, or tax 

Department of the Treasury year beginning ,2008 Intemal Revenue Service 

ending ,20 --

Shareholder's Share of Income, Deductions, 

Credits, etc. .. See page 2 ~ faro ax! separnIe insIJudiorISI Patt I I Information About the Corporation 

A Corporation's errp/oyer iderltificaticn number 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO LTD 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center where corporation filed retum 

CINCINNATI 

Ip~rtB,1 Information About the Shareholder 

0 Shareholder'S identifying number 

E Shareholder's name, address, city, state, and ZIP code 

RUTH DENHERDER 

740 S FEDERAL ST APT 908 

CHICAGO IL 60605 

F Shaneholder's percentage of sted< 

ownership for tax year .. .. .. .. .............. 30.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

0 

n 

I 

y 

FCf' Papeno;ak ReWdion Ad. NcIice, see lnsIrucIions for Form 11205. 

EEA 

% 

671108 FinalK-1 Amended K-1 OMB No 1545-0130 

!Partml Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 ! Ordinary business income (/oss) 13 Credits 

I 101 378 

2 I Net rental real estate income (loss) 

I 

3 I Other net rental income (loss) 

I 

4 Interest income 

Sa Ordinary dMdends 

51> Qualified dividends 14 Foreign transactions 

6 Royalties 

7 Net short-term capital gain (loss) 

8a Net long-tenm capital gain (loss) 

8b Collectibles (28%) gain (loss) 

Be Unrecaptured section 1250 gain 

9 Net section 1231 gain (loss) 

10 Other income (loss) 15 A~emative minimum tax (AMT) 

(terns 

A (941) 

11 Section 179 deduction 16 Iterrs affecting shareholder basis 

32 431 C 1,743 

12 Other deductions 

17 Other Infonmation 

* See attached statement for additional infom1ation. 

SchedJIe K-l (FCtTII 112(5) 2008 
Schedule K-1 

2008 (Form 11205) For calendar year 2008, or tax 

Department of the Treasury year beginning ,2008 Intemal Revenue Service 

ending ,20 -

Shareholder's Share of Income, Deductions, 

Credits, etc. .. See page 2 ~ form and separae insIrudioos. 

IPartl I Information About the Corporation 

A Corporation's employer identification number 

38-3488505 

B Corporation's name, address, city, state, and ZlP code 

MARCECO LTD 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center where ccrporation filed return 

CINCINNATI 

leartnl Information About the Shareholder 

0 Shareholder's identifying m.mber 

E Shareholder's name, address, city, state, and ZIP code 

JAMAL AQEL 

10891 CHEYENNE TRAIL 

GRAND RAPIDS MI 49544 

F Shareholder's percentage of stock 

ownenship for tax year .. ., .. ...... ., ...... 20.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

0 

n 

I 

y 

For PaperMlfk Redudion lid. NoIice. see InsIrudims kr' Fomt 11208. 

EEA 

% 

671108 Final K-1 Amended K-1 OMS No 1545-0130 

I Part 111 I Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 I Ordinary business income (loss) 13 Credits 

l 67L 586 2 I Net rental real estate income (loss) 

3 I Other net rental income (loss) 

4 Interest income 

Sa Ordinary dividends 

5b Qualified dividends 14 Foreign transactions 

6 Roya~ies 

7 Net short-term capital gain (loss) 

Sa Net long-term capital gain (loss) 

Sb Collectibles (28%) gain (loss) 

&: Unrecaptured section 1250 gain 

9 Net section 1231 gain (loss) 

10 Other income (loss) 15 Aitemative minimum tax (AMT) items 

A (628) 

11 Section 179 deduction 16 Items affecting shareholder basis 

21 621 C 1,163 12 Other deductions 

17 Other information 

* See attached statement for additional information. 

Sche<ije K-1 (Form 1120S) 2008 
Form 4562 Depreciation and Amortization 

(Including Information on Listed Property) 

Department of the Treasury 

Intemal Revenue Service (99) ~ See separate instructions. ~ Attach to your tax return. 

Le.M1iJ Election To Expense Certain Property Under Section 179 

Note: If you have any listed property complete Part V before you complete Part I. 

1 Maximum amount. See the instructions for a higher limit for certain businesses ... 2 Total cost of section 179 property placed in service (see instructions) ........ . . . 3 Threshold cost of section 179 property before reduction in limitation (see instructions) 

4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0- ........ 

5 Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter -0-. If married filing 

separately, see instructions .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ........................ . . .. .......... 

1 

2 

3 

4 

5 

(a) Description of property (b) Cost (business use only) (e) Elected cost 

6 TERMINALS 102 660 102 660 

COMPUTER EQUIPMENT 5 444 5 444 

7 Listed property. Enter the amount from line 29 .. .. .. .. .. .. .. .. .. .. .. .. ........ I 7 

8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 8 

9 Tentative deduction. Enter the smaller of line 5 or line 8 ................................ · 9 

10 Carryover of disallowed deduction from line 13 of your 2007 Fonn 4562 ................ · 10 

11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5 (see instructions) 11 

12 Section 179 expense deduction. Add lines 9 and 10, but do not enter more than line 11 .................. 12 

13 Carryover of disallowed deduction to 2009. Add lines 9 and 10, less line 12 ~113 

Note: Do not use Part II or Part III below for listed property. Instead, use Part V. 

! 

OMB No. 1545-0172 

2008 

Attachment 

Sequence No. 67 

Identifying runIJer 

38-3488505 

250 000 

122 023 

800 000 

0 

250 1 000 

108,104 

108 104 

250 000 

108 1 104 ... 

fPartJLl Special De..Dreciation Allowance and Other DeDreciation (Do not include listed property.) (See instructions.) 

14 Special depreciation allowance for qualified property (other than listed property) placed in service 

during the tax year (see instructions) ... . 14 6 960 

15 Property subject to section 168(f)(1) election . . 15 

16 Other depreciation (including ACRS) ... . · 16 

LPaJ1111 1 MACRS DeDreciation (Do not include listed property.) (See instructions.) 

Section A 

17 MACRS deductions for assets placed in service in tax years beginning before 2008 _17-l.-___ --1...t. 5 3 7 . 

18 If you are electing to group any assets placed in service during the tax year into one or more 

general asset accounts, check here ••••••••••••••••••••••••••• • ~ 

Section B - Assets Placed in Service During 2008 Tax Year Using the General Depreciation System 

(a) Classification of property 

(D) Month and (C, Basis for deprecation (d) Recovery year placed In (e) Convention (f) Method (g) Depreciation deduction (businessflnvestment use 

service only-see instructions) period ....... 19a 3-year property 

b 5-year property 

c 7 -year property i 

d 1 O-year property i 6 J 959 10 HY 200 DB 696 e 15-year property I i 

f 20-year property , 

g 25-year property 25 yrs. S/L --_ ••• _> 

h Residential rental 27.5 yrs. MM SIL 

property I 27.5 yrs. MM SIL 

i Nonresidential real 39 yrs. MM SIL 

property MM SIL 

Section C - Assets Placed in ServIce During 2008 Tax Year USing the AlternatIVe DepreCIatIon System , 20a Class life SIL 

b 12-year 12 yrs. SIL 

C 40-year 40 yrs. MM SIL 

LEartIV ! SummarY (see instructions) 

21 Listed property. Enter amount from line 28 ••••••••••••••••••••••••••• 21 

22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. 

Enter here and on the appropriate lines of your return. Partnerships and S corporati0rn_s_-_s,-ee_in_s_tr_. ____ -'--2_2--+ ___ _ .::1:...;5"-'--=10...:9;;.,.:::3_ 

23 For assets shown above and placed in service during the current year, 

enter the portion of the basis attributable to section 263A costs 

For Paperwork Reduction Act Notice, see separate instructions. EEA Form "562 (2008) 
Application for Automatic Extension of Time To File Certain Form 7004 Business Income Tax, Information, and Other Returns OMS No. 1545-0233 

(Rev. December 2008) ~ File a separate application for each return. Department of the Treasury 

Intemal Revenue Service ~ See separate instructions. 

Name Idenifying runber 

Type or 

Print MARCECO LTD 38-3488505 

File by the due Number. street and room or surte no. (If P.O. box. see instructions.) 

date for the 

return for which 3542 ROGER B CHAFFEE SE an extension is City. town, state, and ZIP code (If a foreign address, enter city, prOVince or state, and country (follow the country's practice for entering 

requested. See postal code)). 

instructions. 

GRAND RAPIDS MI 49548 

Note. See Instructions before completing thiS fann 

f!!rt'.- 'I Automatic S-Month Extension Complete if Filing Form 1065, 1041, or 8804 

1a Enter the form code for the return that this application is for (see below) . • 1 i 1 

Application Form Application Form 

Is For: Code Is For: Code 

Form 1065 09 ~~1 (estate) 04 .w_ . 

Form88o.t 31 Form 1041 (trust) 05 

l!,~rt II. I Automatic &-Month Extension Complete if Filing Other Forms 

b Enter the form code for the return that this application is for (see below) • 12 151 

Application Form Application I Form 

Is For: Code Is For: Code 

Form 706-GS(D) 01 Form 112O-PC .- .- .:- ---r-- 21 _. .- FOrm ?06-GScTl . ,:," 02 Form 1120-POL 22 "~

_._

Form 1041-N 06 Form 112O-REIT 23 .,_._----- .... Form 1041-QFT .. : 07 Form 1120-RIC 24 - .--. -'08'----::--'---_ .-- Form 1042 Form 1120.8 " 25 .- Form 106.>& 10 Form 1120-SF 26 - --" .. _- .. -~ 

Form 1066 11 Form352~A 27 .. 

I 

FOrm 1120 ." 12 Form 8612 28 

Form 1120-C 34 Form 8613 29 

;; 15-- ~----. • __ .w ... Form 1120-F ..•... " '::.: Form 8725 30 

Form 1120-FSC 16 -- -_ ~Orm8831 32 . ..---.... _. 

_

Form . ~ 112~H __ •• _____ .r • ..:..:..:..- 17 Form 8876 33 .... ~ ... -.... -.-.- -.--,- -.-.. - '-"'- - "'-'" -- -. . 

Form 1120-L 18 Form 8924 -l .... : . 35 

oon112~D 19 Form 8928 - - --_. - Form 1120-ND (section 4951 taxes) 20 ., , .- ~ .. . 

2 If the organization IS a foreign corporatton that does not have an office or place of bUSiness in the United States, 

check here • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •• •••••••• . 

3 If the organization is a corporation and is the common parent of a group that intends to file a consolidated return, 

check here ••••••• • ••••••••••••••••..•••••••••••••••••••••••• 

If checked, attach a schedule, listing the name, address, and Employer Identification Number (EIN) for each member 

covered by this application. 

[!~iii i All Filers Must Complete This Part 

...... ~ 

4 If the organization is a corporation or partnership that qualifies under Regulations section 1.6081-5, check here . . •• 

5a The application is for calendar year 20 Q.[ , or tax year beginning , 20 , and ending _____ ' 20 

b Short tax year. If this tax year is less than 12 months, check the reason: 

Initial return Final return Change in accounting period Consolidated return to be filed 

6 Tentative total tax • 6 

36 

o 

7 Total payments and credits (see instructions) ••••••••••••••••••••••••••....• 7 0 ~-+--------------~ 

8 Balance due. Subtract line 7 from line 6. Generally. you must deposit this amount using the 

Electronic Federal Tax Payment System (EFTPS). a Federal Tax Deposit (FTO) Coupon. or 

Electronic Funds Withdrawal (EFW) (see instructions for exceptions) 

For Privacy Act and Paperwork Reduction Act Notice. see separate Instructions. EEA 

8 o 

Form 7004 (Rev. 12-2008) 
IRS e-file Signature Authorization OMS No. 1545-1863 

Form 8879-5 for Form 1120S 

2008 For calendar year 2008. or tax year beginning . 2008. ending . 20 Department of the Treasury -- InternaJ Revenue Service ~ See instructions. Do not send to the IRS. Keep for your records. 

Name of corporation 

MARCECO LTD I~~=o~ II Tax Return Information (VVtlole dollars only) 

1 Gross receipts or sales less returns and allowances (Form 1120S, line 1 c) 1 32 850 390 

2 Gross profit (Form 1120S, line 3) .................................... 2 1 993 936 

3 Ordinary business income (loss) (Form 1120S, line 21) ............. 3 337 927 

4 Net rental real estate income (loss) (Form 1120S, Schedule K, line 2) 4 

5 Income (loss) reconciliation (Form 1120S, Schedule K,line 18) •••• 5 229 823 

!Part III Declaration and Sianature Authorization of Officer (Be sure to aet a CODY of the corDoration's return) 

Under penalties of perjury, I dedare that I am an officer of the above corporation and that I have examined a copy of the corporatlon's 

2008 electronic income tax return and accompanying schedules and statements and to the best of my knowledge and belief, it is 

true, correct. and complete. I further dedare that the amounts in Part I above are the amounts shown on the copy of the corporation's 

electronic income tax return. I consent to allow my electronic return originator (ERO), transmitter, or intermediate service provider 

to send the corporation's return to the IRS and to receive from the IRS (al an acknowledgement of receipt or reason for rejection 

of the transmission, (b) an indication of any refund offset, (c) the reason for any delay in processing the return or refund, and (d) 

the date of any refund. If applicable, I authorize the U.S. Treasury and its designated Financial Agent to initiate an electronic funds 

withdrawal (direct debit) entry to the financial institution account indicated in the tax preparation software for payment of the 

corporation's federal taxes owed on this return , and the financial institution to debit the entry to this account. To revoke a payment, 

I must contact the U.S. Treasury Financial Agent at 1.a88-353-4537 no later than 2 business days prior to the payment (settlement) 

date. I also authorize the financial institutions involved in the processing of the electronic payment of taxes to receive confidential 

information necessary to answer inquiries and resolve issues related to the payment. I have selected a personal identification number 

(PIN) as my Signature for the corporation's electronic income tax return and, if applicable, the corporation's consent to electronic 

funds withdrawal. 

Officer's PIN: check one box only 

X I authorize MCDONALD AND ASSOCIATES PC to enter my PIN ""8""8,,,,5,,,,0=5 ___ as my signature 

ERO mn name do rot enter .. zeros 

on the corporation's 2008 electronically filed income tax return. 

As an officer of the corporation, I will enter my PIN as my signature on the corporation's 2008 electronically filed 

income tax return. 

Officer's signature ~ ___________________ _ Date ~ 2009-05-12 Title ~ PRESIDENT 

lfLrtJlLLi --"C<..>e<..!.rt~ifi!..!.lc""'a...,t""io""'n"__"a!..!.n.>!.d..!:.A"'u .... t!..!.he""'n!..!.2t""ic""a,."t""io""n_'____ ______________ __________ _ 

ERO's EFINlPIN. Enter your six-digit EFIN followed by your five-digit self-selected PIN. 38727400201 do rot enter .. zeros 

I certify that the above numeric entry is my PIN, which is my Signature on the 2008 electronically filed income tax return for the 

corporation indicated above. I confirm that I am submitting this return in accordance with the requirements of Pub. 3112, IRS e-file 

Application and Participation, and Pub. 4163, Modernized e-File (MeF) Information for Authorized IRS e-file Providers for Business 

Returns. 

ERO's Signature ~ ______ ______________________ _ Date ~ 06-04-2009 

ERO Must Retain This Form - See Instructions 

Do Not Submit This Form to the IRS Unless Requested To Do So 

For Paperwork Reduction Act Notice, see instructions. EEA Form 8879-5 (2008) 
" 

I Federal Supporting Statements 2008 PAGE 1 

Name(s) as shown on retum FEIN 

MARCECO LTD 38-3488505 

FORM 1120S, SCHEDULE L, LINE 18 STATEMENT # 22 

BEGINNING OF END OF 

DESCRIPTION TAX YEAR TAX YEAR 

PAYROLL TAXES 

SALES TAX 

MERCANTILE LOC 

TOTALS: 

PG01 

FORM 1120S LINE 5 STATEMENT # 1 

DESCRIPTION AMOUNT 

ADVERTISING CO OP 13,624 

TOTAL 13,624 

STATMENT.LD 
· ' 

I 

Name(s) as shown on retum 

MARCECO LTD 

DESCRIPTION 

ACCOUNTING 

Federal Supporting Statements 

FORM 1120S LINE 19 

AUTOMOBILE AND TRUCK EXPENSE 

BANK CHARGES 

COMMISSIONS 

COMPUTER 

CONSULTING 

DUES AND SUBSCRIPTIONS 

EDUCATION AND TRAINING 

EQUIPMENT RENTAL/LEASE 

GIFTS 

LIABILITY INSURANCE 

JANITORIAL 

LEGAL AND PROFESSIONAL 

MARKETING 

50% MEALS AND ENTERTAINMENT 

MISCELLANEOUS 

OFFICE EXPENSE 

OUTSIDE SERVICES/SUB CONTRACTORS 

POSTAGE/SHIPPING 

SECURITY 

SOFTWARE 

SUPPLIES 

TELEPHONE 

TRAVEL 

UTILITIES 

SOFTWARE LEASE 

STAFF DEVELOPMENT 

TECHNICAL SUPPORT 

TOTAL 

DESCRIPTION 

FREIGHT 

PROCESSOR FEES 

TOTAL 

STATMENT.LD 

SCHEDULE A LINE 5 

2008 PG01 FEIN 

38-3488505 

STATEMENT # 2 

AMOUNT 

3,355 

28,439 

26,280 

627,603 

1,873 

875 

1,200 

450 

1,159 

3,595 

5,556 

3,360 

2,490 

1,195 

5,812 

790 

17,359 

248 

32,856 

1,870 

6,894 

3,059 

42,111 

12,518 

12,718 

8,591 

1,986 

240 

854,482 

PG01 

STATEMENT # 5 

AMOUNT 

26,060 

41,439 

67,499 
I Federal Supporting Statements 2008 PGOl 

Name(s) as shown on return FEIN 

MARCECO LTD 38-3488505 

SCHEDULE M-2 LINE 5 STATEMENT # 30 

DESCRIPTION AMOUNT 

SECTION 179 EXPENSE 108,104 

NONDEDUCTIBLE EXPENSES 5,811 

TOTAL 113,915 

STATMENT.LD 
Michigan Department of Treasury 

4567 (Rev. 01-09) Page 1 

2008 MICHIGAN Business Tax Annual Return 

Check if this is an 

. __ amended retum. 

Attach supporting documents. 

I ssued under authonty of Public Act 36 of 2007 MM-DD·YYYY MM-DD-YYYY 

1. Return is for calendar year 2008 or for tax year beginning: I I and ending: I 2. Name (print or type) 7. Federal Employer Identification Number (FEIN) or TR Number 

MARCECO LTD 38-3488505 

Doing Business As (DBA) 8. Organization Type 

Street Address 

~ ~ C Corporation I ~ 

Individual -.- LLC C Corpcration 

3542 ROGER B CHAFFEE SE 

City I State ZIP Code I Country Code 

~ 

~ --- S Corporation I 

--- Fiduciary X LLC S Corporation 

GRAND RAPIDS MI 49548 -- 3. Principal Business Activity 4. Business Start Date in Michigan ._ _ Partnership I LLC Partnership 

SALES 09-01-1999 

5. NAICS (North Amercan Industry Classification System) Code 6. If Discontinued, Effective Date 9. Check if Filing Michigan Unitary Business Group Return. '--

454210 (Attach Form 4580.) 

10. SpeCial Computations 

a. ~ Check if you have sales receipts from transportation services 

Check if Fiscal Filer using the AmuaI Method (Tax Year 

e. ._ 2008 only) and complete 10f through 1Oh. 

AoPOrtionment Calculation 

b. Michigan Sales · 29956182 00 f. Number of months in MBT tax perod 

c. Total Sales ":§ .. · 32864014 00 g. Total months in 2007-08 federal tax year 

d. Apportionment %. Divide line (b) by line (c) · 91.1519 % h. Proration %. Divide line (I) by line (g) 

PART 1: MODIFIED GROSS RECEIPTS TAX 

11. Gross Receipts (see instructions) • • • • • • • • • • • • • • • • • • • • •••••••••••••• 11·1 L-____ ~~~~~~ 

328640141001 

12. Subtractions (see instructions) 

a. Inventory acquired during tax year ••••••••••••••••• 12a 

b. Depreciable assets acquired during tax year· • • • • • • • • • • • • 12b. 

c. Materials & supplies not induded in inventory or depreciable property 12c. 

d. Staffing Company: Compensation of personnel supplied to customers 12d. 

e. Deduction for contractors in SIC Codes 15, 16 & 17 (see instructions) 

f. Miscellaneous (see instructions) 

12e. 

12f. 

31016362 00 

122023 00 

3059 00 

00 

00 

00 

13. Total Subtractions. Add lines 12a through 12f • • • • • • • • • • • • •• 13. 1 311414441 00 I 

14. a. Modified Gross Receipts. Subtract line 13 from line 11. If less than zero, enter zero 14a·1 1 7 2 2 5 7 ° I 00 I '--__ --'''-=-=--''-'''--''-''--''"---.J 

b. If box 10e checked, multiply line 14a by percentage on line 1 Oh. All others, enter amount from line 14a • 14b. f--__ --=1'-..!.7...,,2...,,2=5...!..7=0f----1 

15. Apportioned Modified Gross Receipts Tax Base. Multiply 15. '--__ -=1=5:...:.7...><0-=1=5=5L......-' line 14b by percentage 0;...n~lin....:e....:1_0_d _____ r-, 

16. a. Single Business Tax business loss carryforward • • • • 16a.I'--________ ILo_0..J1 

b. Multiply line 16a by 65% (0.65) •••••••••••• 16b 00 

17. Subtract line 16b from line 15. If less than zero, enter zero 

18. Multiply line 17 by .8% (0.008) •••••••••••••• 

19. Enrichment Prohibition for dealer of new motor vehicles or personal watercraft. Enter amount collected during tax year 

20. Modified Gross Receipts Tax Before All Credits. Enter the greater of line 18 or line 19 

17. 

18. 

19. 

20. 

1570155 00 

12561 00 

00 

12561 00 

PART 2: BUSINESS INCOME TAX 

21. Business Income. (If business activity protected under PL 86-272, complete and attach Form 4586. See instr.) 21·1 L-________ ~~~~~~ 236087/ 00 I 

22. Additions to Income. (See instructions.) 

a. Interest income and dividends derived from obligations or 

securities of states other than Michigan 

b. Taxes on or measured by net income •••••••••• 

c. Tax imposed under MBT ••••••••.••••••• 

d. Any carryback or carryover of a federal net operating loss 

e. Losses attributable to other taxable flow-through entities· 

Account No. l....1 ________________ ....J 

f. Royalty. interest and other expenses paid to a related person 

23. Total Additions to Income. Add lines 22a through 22f ••••• 

24. Business Income Tax Base After Additions. Add lines 21 and 23 

+ 1024 2008 11 01 27 0 

22a. 

22b. 

22c. 

22d. 

22e. 

3810 

00 

00 

00 

00 

00 

22f. 1'-_____ -'-1 0--,0 1 

23.jl--______ -=3=8=1=QI--0-j0 I 

24. L..... ____ ....c2=-3=-98=-=.9..:..J71_0----'o 

Continue and sign on Page 2. 
Form 4567, Page 2 

PART 2: BUSINESS INCOME TAX (Cont.) 

25. Subtractions From Income. (See instructions.) 

a. Dividends and royalties received from persons other than United 

States persons and foreign operating entities 

b. Income attributable to other taxable flow-through entities 

Account No. I 

~----------------------------------~ c. Interest income derived from United States obligations 

d. Net eamings from self-employment. If less than zero, enter zero 

FEIN or TR Number I 38-3488505 

~:::I t------t---il ::1 

26. Total subtractions from income. Add lines 25a through 25d •••• ~:~: ~I ==============J~=~~~ I • • • • • • • • • • • • • • 26.1 1001 

27. a. Business Income Tax Base. Subtract line 26 from line 24 27a·1 2398971001 '--------'--' ~------~~~~~~ 

b. If box 10e checked, multiply line 27a by percentage on line 1 Oh. All others, enter amount from line 27a 27b 

28. Apportioned Business Income Tax Base. Multiply line 27b by percentage on line 10d •••••••••• 28. 

29. Available MBT business loss carryforward from previous period MBT retum. Enter as a positive number· 29. 

30. a. Subtract line 29 from line 28. If negative, enter here as a negative number and skip to line 31. This is the 

available business loss carryforward to the next filing period (see instrs). Otherwise, go to line 30b 30a. 

b. If line 30a is positive, enter the qualified affordable housing deduction (see instructions) 30b. 

c. Subtract line 30b from line 30a. If less than zero, enter zero ••••••••••••• 30c. 

31. Business Income Tax Before All Credits. Multiply line 30a or 30c, whichever applies, by 4.95% (0.0495). 

If less than zero, enter zero 31. 

PART 3: TOTAL MICHIGAN BUSINESS TAX 

32. Total Michigan Business Tax Before Surcharge and Credits. Add lines 20 and 31 32. 

33. Annual Surcharge. Enter the lesser of $6,000,000 or line 32 multiplied by 21.99% (0.2199) 33. 

34. Total liability Before All Credits. Add lines 32 and 33 ••••••••••••••••• 34. 

35. Nonrefundable credits from Form 4568, line 36 • • • • • • • • • • • • • • • • • • • • • 35. 

36. Total Tax After Nonrefundable Credits. Subtract line 35 from line 34. If less than zero, enter zero 36. 

37. Recapture of Certain Business Tax Credits and Deductions from Form 4587, line 10 37. 

38. Total Tax Liability. Add lines 36 and 37 ••••••••••••••••••• 38. 

PART 4: PAYMENTS, REFUNDABLE CREDITS AND TAX DUE 

39. Overpayment credited from prior retum (SBT or MBT) 39. 

40. Estimated tax payments • • • • • • • • • • 

41. Tax paid with request for extension 

42. Refundable credits from Form 4574, line 23 

40. 

41. 

42. 

00 

3810 00 

00 

00 

239897 00 

218671 00 

00 

218671 00 

00 

218671 00 

10824 00 

2338C; 00 

5142 00 

28527 00 

401'; 00 

24515 00 

00 

24515 00 

43. Total. Add lines 39 through 42. (Then, if not amending, skip to line 45.) 43·1 381 d 00 I 

AMENDED a. Payment made with the original retum •••••••• ~~::~I --------------+I-~o~ol ~--------~~~~~ 44. RETURN b. Overpayment received on the Original retum 

ONLY c. Add lines 43 and 44a and subtract line 44b from the sum 

45. TAX DUE. Subtract line 43 (or line 44c, If amending) from line 38. If zero or less than zero, leave blank 

44c. 

45. 

46. Underpaid estimate penalty and interest from Form 4582, line 38 ••••••••• •••••••• 46. 

47. Annual retum penalty I I old = I 1 00 I plus interest ofl 1 00 I. Enter total 47. 

48. PAYMENT DUE. If line 45 is blank, go to line 49. Otherwise, add lines 45 through 47 •••••••••• 48. 

00 

2070C; 00 

446E 00 

00 

25171 00 

PART 5: REFUND OR CREDIT FORWARD 

49. Overpayment Subtract lines 38. 46 and 47 from line 43 (or line Me. if amending). If less than zero. leave blank 

50. CREDIT FORWARD. Amount of overpayment on line 49 to be credited forward 

51. REFUND. Amount of overpayment on line 49 to be refunded •••••••• :::Ir--------------~I-~~:I L-________________ ~~ 

Taxpayer Certification. I declare under penalty of perjury that the information in this Preparer Certification. I declare under penalty of pe~ury that this 

return and attachments is true and complete to the best of my knowledge. return is based on all information of which I have any knowledge. 

X, By checking this box, I authorize Treasury to discuss my return wrth my preparer. Preparer's pnN, FEIN or SSN 

Taxpayer Signature Ip00531251 

Preparers Business Name (pnnt or type) 

MCDONALD AND ASSOCIATES PC 

Taxpayer Name (print or type) I: Date Preparer's BUSiness Address and Telephone Number (print or type) 

DAVE DENHERDER 2009-05-12 2156 PLAINFIELD AVE NE Title I Telephone Number GRAND RAPIDS, MI 49505 

PRESIDENT 616-447-8639 

Return is due April 30 or on or before the last day of the 4th month after the close of the tax year. 

\MTHOUT PAYMENT. Mail return to: 

Michigan Department of Treasury, P.O, Box 30783, Lansing, MI46909 

+ 1024 2008 11 02 27 8 

\MTH PAYMENT. Pay amount on line 48. Mall check and retum to: 

Michigan Department of Treasury, P,O. Box 30113, Lansing, MI 48909 

Make check payable to "State of Michigan." Print the FEIN or TR Number 

and "MBT" on the front of the check. Do not staple the check to the return. 

I 
Michigan Department of Treasury 

4568 (Rev. 01-09), Page 1 

2008 MICHIGAN Business Tax Nonrefundable Credits Summary 

Issued under authority of Public Act 36 of 2007. 

CECO LTD 

Attachment 02 

1. Tax before all credits from Fonn 4567, line 34, or Fonn 4590, line 25 ",',' , , , , , , , , , , , , , , 1. f--____ -"2c.>S"-'5""-"'2c..'7'+-0-j0 

2. SBT credit carryforwards from Fonn 4569, line 35 """ 

3. Tax After SBT credit carryforwards. Subtract line 2 from line 1. 

If less than zero, enter zero "",,""""'" 

, , , , , , , ••••••• , 2. 

3.1 2s5271001 '---______ 1...-.-l 

00 

4. a. Compensation and Investment Tax Credit from Fonn 4570, line 34 , • , , , , , '4a. 4012 00 

b. If Fonn 4570, line 28, is negative, enter here as a negative number. Otherwise, leave blank •••••• , 4b. 00 

5. Research and Development Credit from Fonn 4570, line 41 ' •• , • , • , , , , • , • , , , , , 5. 001 

6. Tax After Research and Development Credit Subtract lines 4a, 4b 

and 5 from line 3. Cannot be less than zero 6. I L ___ ~2~4~5~1~5~1_00~1 

::1 r------t---II ::1 

7. Small Business Alternative Tax Credit from Fonn 4571, line 11 or 17, whichever applies 

8. Gross Receipts Filing Threshold Credit from Fonn 4571, line 25 • , , 

9. Tax After Gross Receipts Filing Threshold Credit Subtract lines 7 and 

8 from line 6. Cannot be less than zero 

10. Community or Education Foundation Credit from Fonn 4572, line 5 

11. Homeless Shelter/Food Bank Credit from Fonn 4572, line 9 ••• , 

12. Tax After Homeless ShelterlFood Bank Credit Subtract lines 10 and 

11 from line 9. If less than zero, enter zero "" 

9. LI ___ ------'2'"-4~5"'_'1=..:5""-1_0___'0 I 

:::::::::::::: :::.~I::I • 12. LI ___ ~2,,-4=-:5~1~5~1_00~1 13. NASCAR Speedway Credit from Fonn 4573, line 3 ",.".,',., ·13. 00 

14. Stadium Credit from Fonn 4573, line 6 •••• , • , , , ••• , , • , • , •• , , • , • , , , , ••• , , , 14. 00 

15. Start-up Business Credit from Fonn 4573, line 9. If less than zero, enter as a negative number ", ••• , 15. 00 

16. Tax After Start-up Business Credit Subtract lines 13, 14 and 15 from I I I 

line 12. If less than zero, enter zero ",',.,"".,',. ,16. 2451500 

17. Public Contribution Credit from Fonn 4572, line 14, " .' " .' .' .' .' .' ••••••• ' " .' .' .' .' .' .' .' .' .' .' .' .' .' 118

7 

.. ~---------t-oOo-j01 18. Arts and Culture Credit from Fonn 4572, line 19 _ _ . 

·19. I 245151 Dol 

19. Tax After Arts and Culture Credit Subtract lines 17 and 18 from line 

16. Cannot be less than zero 

20. Next Energy Business Activity Credit from Fonn 4573, line 12 • • • • • • . ·20 00 

21. Renaissance Zone Credit from Fonn 4573, line 14 •••• , •••••••••••••••••••••••• 21. 00 

22. Historic Preservation Credit from Fonn 4573, line 21 •••• '.,"' ••••••••• ,',""" 22. 00 

23. Low Grade Hematite Credit from Fonn 4573, line 27 ,,", ••• ,' •• , ••• ,.,,',.,",' 23. 00 

24. Entrepreneurial Credit from Fonn 4573, line 34 ' , , •. , • , , •••••• , • , •••••..•••••• 24. 00 

+ 1024 200S 15 01 27 2 

Continue on Page 2. 
4568, Page 2 FEIN or TR Number I 38-3488505 

25. New Motor Vehicle Dealer Inventory Credit from Form 4573, line 38 • • • • • • • • • • • . . • • • • • • • • 25 00 

26. Large Food Retailer Credit from Form 4573, line 42 ••••••••••••••••••••••••••••• 26 00 

27. Mid-size Food Retailer Credit from Form 4573, line 46 •••••••••••••••••••••••• 27 00 

28. Bottle Deposit Administration Credit from Form 4573, line 50 ••••••••••••••••••••••• 28 00 

29. Anchor Company Taxable Value Credit from Form 4573, line 52 •••••••••••••••••••••• 29 00 

30. Anchor Company Payroll Credit from Form 4573, line 54 •••••••••••••••••••••••••• 30 00 

31. MEGA Federal Contract Credit from Form 4573, line 56 • • • • • • • • • • • • • • • • • • • • • • • •• ·31 00 

32. Individual or Family Development Account Credit from Form 4573, line 58 •••••••••••••••••• 32 00 

33. Brownfield Redevelopment Credit from Form 4573, line 60 ••••••••••••••••••••••••• 33. 00 

34. Private Equity Fund Credit from Form 4573, line 65 • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 34. 00 

35. Film Job Training Credit from Form 4573, line 70 • • • • • • • • • • • • • • • • • • • • • • • • • • • • • . 35. 00 

36. Film Infrastructure Credit from Form 4573, line 76 ••••••••••••••••••••••••• • 36. 00 

37. Total Nonrefundable Credits. Add lines 2, 4a, 4b, 5, 7, 8, 10, 11,13,14,15,17,18, and 20 through 36. 

Enter total here and carry total to Form 4567, line 35, or Form 4590, line 26 • ~._. _._._. _._. ____ ~~. 37. 

.,.1 245151,,1 

38. Tax After Nonrefundable Credits. Subtract line 37 from line 1. If less 

than zero, enter zero. (This line must be equal to Form 4567, line 36, 

or Form 4590, line 27.) •••••••••••••••••••••• 

4012 00 

+ 1024 2008 15 02 27 0 
Michigan Department of Treasury 

4570 (Rev, 01-09), Page 1 

2008 MICHIGAN Business Tax Credits for Compensation, 

Investment, and Research and Development Issued under authority of Public Act 36 of 2007, 

Name 

MARCECO LTD 

Attachment 04 

3 -3488505 

1. Tax liability prior to this credit from Form 4568, line 3 ••••••••••••• •••••••••• 1·1 L-________ -=~~~~ 

285271001 

PART 1: COMPENSATION CREDIT. If not daiming this credit, go to Part 2, 

2. Michigan Compensation •••••••••••••••••••••••••• 

3. Multiply line 2 by 0.296% (0.00296) (For tax year ending in 2009, see instructions.) 

PART 2: INVESTMENT TAX CREDIT 

Read instructions to ensure eligibility before daiming this credit. If not daiming this credit, carry amount from line 3 to line 29, 

Capital Investments 

4. Enter all eligible depreciable tangible assets located in Michigan that were acquired during the tax year. 

A B C 

Date Acquired 

Description City (MM-DD-YYYY) 

TERMINALS MICHIGAN 06-30-2008 

COMPUTERS MICHIGAN 03-15-2008 

LEASEHOLD IMPROVEMEN MICHIGAN 12-31-2008 

5, Total of column 40 .. . .. .. .. .. .. .. .. .. .. .. .. .. .. .. . . . . .. .. .. .. .. .. . . . . .. . . . .. .. .. .. .. .. 5 . 

6. Enter all eligible depreCiable tangible assets purchased or acqUired for use outside of Michigan In a tax year 

beginning after December 31 2007 that were transferred into Michigan during the tax year 

A B C 

Date Physically 

Located in Michigan 

Description City (MM-DO-YYYY) 

7. Total of column 60 . . . 7. 

8 Enter all eligible depreciable mobile tangible assets that were acqUired dunng the tax year 

A B C 

Date Acquired 

Description State (MM-DO-YYYY) 

9. Total of column 80 . . . . . · . . .. 9. 

10. Mobile Tangible Assets. If subject to apportionment, multiply line 9 by the percentage from Form 4567, 

line 10d. If not subjectto apportionment, enter amount from line 9 . · . ·10. 

11. Total Capital Investments. Add lines 5, 7 and 10 . · . . • 11. 

0 

Cost Paid or Accrued 

During Tax Year 

102660 

4387 

13919 

120966100 

0 

Federal Adjusted Basis 

as of Date Moved 

100 

0 

Cost Paid or Accrued 

During Tax Year 

00 

00 

120966 00 

12. Enter total cost paid or accrued of all depreciable real and personal property located everywhere that I I I was acquired during the tax year (authorized under MCl 208.1513(3» ••••••••••••••••••• 12. L, ________________ -'-_00-' 

LINE 12 IS FOR STATISTICAL PURPOSES ONLY AND SHOULD NOT BE USED IN ANY CALCULATION ON THIS FORM. 

+ 1024 2008 23 01 27 5 Continue on Page 2, 
4570, Page 2 

FEIN orTR Number I 38-3488505 

Recapture of Capital Investments 

13. Enter all eligible depreciable tangible assets located in Michigan that were acquired or moved into Michigan after acquisition in a tax year 

beginning after December 31 2007 and were sold or otherwise disposed of during the tax year 

C. Date Acquired D. Date Sold 

A. Description B. City (MM-DD-VYYY) (MM-DD-VYYY) E. Gross Sales Price F. GainlLoss 

14. Total columns 13E and 13F. A loss on 14F will increase recapture • ••••••••• 14. 

15. Adjusted Proceeds. If line 14F is a gain, subtract it from line 14E. If line 14F is a loss, add it to 14E •••• ·15. 

If taxable In another state, complete hnes 16 and 17; othel'WlSe, go to hne 18. 

100 

16. Apportioned gains (losses). Multiply line 14F by the percentage from Form 4567, line 10d· • • • • • • • • • • 16'1 I 0000 1 

17. Apportioned Adjusted Proceeds. If line 16 is a gain, subtract it from line 14E. If line 16 is a loss, add it to 14E 17. ~=================~. =~. 18. Enter all eligible depreciable mobile tangible assets acquired in a tax year beginning after December 31,2007, 

that were sold or otherwise disposed of during the tax year. 

C. Date Acquired D. Date Sold 

A. Description B. State (MM-DD-VYYY) (MM-DD-VYYY) E. Gross Sales Price 

19. Total columns 18E and 18F. A loss on 19F will increase recapture •••••••••• 19. 

20. Adjusted Proceeds. If line 19F is a gain, subtract it from 19E. If line 19F is a loss, add it to 19E ••••••• ·20. 

If taxable in another state, complete hne 21; otherwise, go to line 22. 

F. GainlLoss 

j 00 

21. Apportioned Adjusted Proceeds. Multiply line 20 by percentage from Form 4567, line 10d ··········21. LI ________ .LI-=-o,:.jol 

22. Enter all eligible depreciable tangible assets other than mobile property acquired in tax years beginning after 

December 31,2007, that were eligible for the Investment Tax Credit in tax years beginning after December 31,2007, 

and were transferred outside Michigan during the tax year. 

C. Date Acquired 

A. Description B. City (MM-DD-YYYY) 

23. Total of column 22E . . . . . . 24. Recapture of Capital Investments. Add lines 15,20, and 23. Or, if taxable in another state, 

add lines 17, 21, and 23 . . . Net Capital Investments 

25. Net MBT Capital Investment. Subtract line 24 from line 11 ••••••.•••• 

26. Multiply line 25 by 2.32% (0.0232) (For tax year ending in 2009, see instructions.) 

27. Net Recapture Amount from Single Business Tax Assets from Form 4585, line 7 • 

28. Subtract line 27 from line 26. If negative, carry amount to Form 4568, line 4b 

PART 3: REDUCED COMPENSATION AND INVESTMENT TAX CREDITS 

29. Add lines 3 and 28. If line 28 is negative, enter amount from line 3 

30. Tax Before Surcharge from Form 4567, line 32, or Form 4590, line 23 

31. Total SBT credit carryforward from Form 4569, line 35 ••••••• 

D. Date Transferred 

(MM-DD-VYYY) 

. 

. 

·23. 

·24. 

·25. 

·26. 

·27. 

·28. 

·29. 

·30. 

·31. 

32. Subtract line 31 from line 30. If less than zero, enter zero •••••• • 32. 

33. Multiply line 32 by 50% (0.5) (For tax year ending in 2009, see instructions.) • 33. 

34. Allowable Credit. Enter lesser of line 29 or line 33. Carry amount to Form 4568, line 4a (see instructions) 34. 

35. If line 28 is negative, enter amount from line 28 as a positive number ••••••••••••• • 35. 

36. Tax After Compensation and Investment Tax Credit. Subtract line 34 from line 1 and add line 35 • 36. 

PART 4: RESEARCH AND DEVELOPMENT CREDIT 

37. Research and development expenses in Michigan ••••••••••. 

38. Multiply line 37 by 1.52% (0.0152) (For tax year ending in 2009, see instructions.) 

39. Multiply line 32 by 65% (0.65) ••••••••••••••••••••••••• 

·37. 

·38. 

·39. 

40. Ceiling for Research and Development Credit Subtract line 34 from line 39 ••• • 40. 

41. Research and Development Credit. Enter the lesser of line 38 or line 40. Carry amount to Form 4568, line 5 41. 

42. Tax after Research and Development Credit Subtract line 41 from line 36. 

(This line must be equal to Form 4568, line 6) ••••••••••••••••••••••••••••••• 42. 

+ 1024 2008 23 02 27 3 

E. Federal Adjusted Basis 

00 

00 

120966 00 

280E 00 

00 

280E 00 

40P 00 

23385 00 

00 

23385 00 

1169'" 00 

4012 00 

00 

2451S 00 

00 

00 

00 

00 

00 

2451.S 00 
Michigan Department of Treasury 

4577 (Rev. 11-08). Page 1 

2008 MICHIGAN Business Tax Schedule of Shareholders and Officers 

For all corporations claiming the Small Business Alternative Credit 

Issued under authority of Public Act 36 of 2007 

Attachment 07 

Taxpayer Name (If Unitary Business GrouP. Name of Designated Member) Federal Employer Identification Number (FEIN) or TR Number 

MARCECO LTD 38-3488505 

Unitary Business Groups Only: Name of Unitary Business Group Member Reporting on This Form Federal Employer Identification Number (FEIN) or TR Number 

PART 1: SHAREHOLDERS AND OFFICERS. See instructions. 

1. A B I c 0 E F G Name of shareholder (induding corporation. trust, or partnership) FEIN or Check % Stock with ~ Stock from Col. F less 

Member Officer. or family member receiving compensation from the Social Security Number (X) ifar % Stock attribution any attribution between 

Number business (Last. First. Middle) of Shareholder or Officer officer directly owned (See instructions.) two active shareholders 

1 DAVE DENHERDER 20.0000 % I 0/0 20.0000 % 

2 MARK DENHERDER 30.0000 % %, 30.0000 % 

3 RUTH DENHERDER 30.0000 % i% 30.0000. % 

4 JAMAL AOEL 20.0000 % I %i 20.0000 % 

% % % 

% % % 

% %1 % 

% 1% %1 

% 1% ,% 

% i% % 

% 1%, % 

% % % 

Percent of stock (noilisted above) owned by shareholders who own less than 10% and neceive no compensation: % 

Total: 100 % 

Continue below using the same Member Number references from column A. 

H I J K LIM I N 

Dividends Total compensation & director I Member (used to determ ine Salaries. wages Employee insurance fees for officers &lor share- Share of business incomenoss : T atal shareholder/officer 

Number active shareholders) and/or director fees plans. pensions. etc. holders. Add columns J & K (See instructions.) i income. Add columns l & M. 

1 30000 30000 47217 I 77217 

2 26891 26891 70826 I 97717 

3 2426 2426 , 70826 , ! I 73252 

4 47217 I 47217 

! 

! 

I 

I 

! f 

I 

! t I 

.. .. If more space IS needed, attach additional 4577 fonns. Identify taxpayer & complete Part 1 & Part 2 on each additional form. (See Instuctions.) 

+ 1024 2008 47 01 27 5 Continue on Page 2. 
Form 4577, Page 2 FEIN or TR Number ~~3~8L-~324~8~8L>5~0~5>L-____ ---1 

UBG Member FEIN or TR Number L _____________ _ 

PART 2: LIST OF FAMILY MEMBERS AND THEIR CORRESPONDING RELATIONSHIP TYPE 

USing the same Member Number references from Part 1, indicate your attributable family relationship (if any) to each shareholder. 

(An attributable family relationship is defined as either a spouse, parent, child or grandchild.) 

• If an attributable family relationship exists, designate in columns P through S 

• If no attributable family relationship exists, check box in column T. 

2. 0 P Q R 5 

Member 

Number Spouse Parent Child Grandchild 

1 

2 

3 

4 

PART 3: SMALL BUSINESS ALTERNATIVE CREDIT - See definition of active shareholder in the instruction booklet 

3. Compensation and director fees of active shareholders. Add amounts in column L for each active 

shareholder. Enter here and on F0ffi14571, line 6, or 4583, line 12 •••••••••••••• 

4. Compensation and director fees of officers. Add amounts in column L for each officer who is not 

an active shareholder. Enter here and on Form 4571, line 7, or 4583, line 13 ••••••••• 

+ 1024 2008 47 02 27 3 

3. 

4. 

T 

Check (X) if 

No Attributable 

Relationship 
Michigan Department of Treasury 

4582 (Rev. 11-08), Page 1 Attachment 16 

2008 MICHIGAN Business Tax Penalty and Interest Computation 

for Underpaid Estimated Tax Issued under authority of Public Act 36 of 2007. 

Name 

MARCECO LTD 

PART 1: ESTIMATED TAX REQUIRED 

1. Annual tax from Form 4567, line 38, or Form 4583, line 21, or Form 4588, line 44, or Form 4590, line 29 

2. Recuired estimate amount Enter 85% (0.85) of line 1 

See M3T insIrudion booklet fa' e>a:epIions to penalty and 

~ com~-rliE PAYMENT DUE DATES (MM-DD-YYYY) 

4. Divide amount on line 2 by 4, or by the number of 

quarterly returns recuired. If annualizing, enter the 

amount from Annualization Worksheet, line 70, page 2 

CAUTION: Complete lines 5 -13 one cobnn at a Ii1Ie 

5. Prior year overpayment used on quarterly return 

6. Amount paid on quarterly return or SUW retum (see instr.) 

7. Enter amount, if any, from line 13 of the previous column 

8. Add lines 5, 6 and 7 

9. Add amounts on lines 11 and 12 of the previous column 

and enter the resutt here • • • • • • • • • • • • 

10. Subtract line 9 from line 8. If less than zero, enter zero. 

3 

• • • • •• 4 

5 

6 

7 

8 

9 

For column A only, enter the amount from line 8 • •••••• 10 

11. Remaining underpayment from previous period. If 

amount on line 10 is zero, subtract line 8 from line 9 and 

enter resutt here. OtherNise, enter zero 

12. If line 4 is greater than or equal to line 10, subtract line 10 

from line 4 and enter ~ here. Then go to line 6 of the next 

column. Otherwise, go to line 13 

• ••••• 11 

• ••••• 12 

13. If line 10 is larger than line 4, subtract line 4 from line 10 

and enter ~ here. Then go to line 7 of next column • •••••• 13 

PART 2: FIGURING INTEREST 

14. TOTAL UNDERPAYMENT. Add lines 11 and 12 ••••••••• 14 

15. Enter due date for the next quarter or date tax was paid, 

whichever is earlier. In column D, enter the due date for the 

A 

.04-15-2008 

5210 

960 

XXXXX 

960 

XXXXX 

960 

XXXXX 

4250 

A 

4250 

annual retum or date tax was paid, whichever is earlier •••••• 15 ,04-30-2008 16. Number of days from the due date of the quarter to the 

date on line 15 16 15 17. No, of days on line 16 after 04-15-08 and before 07-01-08 17 15 18. No. of days on line 16 after 06-30-08 and before 01-01-09 18 

19. No. of days on line 16 after 12-31-08 and before 07-01-09 19 

20. No. of days on line 16 after 06-30-09 and before 01-01-10 20 

21. Number of days on line 17 x 9.2% (0.092) x line 14 

365 21 16 22. Number of days on line 18 x 7.9% (0,079) x line 14 

365 22 

23. Number of days on line 19 x 6.0% (0.060 x line 14 

365 23 

24. Number of days on line 20 x ~ x line 14 

365 24 

25. Underpayment of interest. Add lines 21 through 24 • •••••• 25 16 26. InIereSt Due. Add line 25 columns A through 0 and enter the resuti here .. . .. . .. .. .. . . . • Interest rate will be set at 1 % above the adjusted prime rate for this period. 

+ 1024 2008 63 01 27 1 

Federal Employer Identification Number (FEIN) or TR Number 

38-3488505 

B 

07-16-2008 

5210 

XXXXX 

960 

960 

4250 

3290 

5210 

B 

8500 

06-30-2008 

2

1 

.• !f-----_----'2"'--"'4-"'-'!51451-l 00 I . 208381 00 

C 0 

10-15-2008 01-15-2009 

5210 5208 

XXXXX XXXXX 

960 930 

960 930 

8500 12750 

7540 11820 

5210 5208 

C I 0 

12750 17028 

09-30-2008 12-31-2008 

I 

I 

I , 

, 

i 

I 

I 

i 

I ...... "' "' "' "' "' "' "' .. 26. I Ie 00 

Continue on Page 2. 
. . 

4582, Page 2 

FEIN orTR Numberl 38-3488505 

PART 3: FIGURING PENALTY 

A 

27, Enter the amount from line 12 4250 

28, Payment due dates from line 3 (MM-DD-YYYY) 

27 

28 ·04-15-2008 

29, Annual retum due date or the date payment was made, 

whichever is earliel ............... .. 29 104-30-2009 

30, Number of days from date on line 28 to date on line 29 30 380 

31, If line 30 is greater than ° but less than 61, multiply line 27 by 5% (0,05) 31 

32, If line 30 is greater than 50, but less than 91, muWply line 27 by 10% (0,10) 32 

33, If line 30 is greater than 90, but less than 121, muniply line 27 by 15% (0,15) 33 

34, If line 30 is greater than 120, but less than 151, multiply line 27 by 20% (0.20) 34, 

35, If line 30 is greater than 150, multiply line 27 by 25% (0,25) 35, 1063 

36, Add lines 31 through 35 36, 1063 

B C 

5210 5210 

07-16-2008 10-15-2008 

04-30-2009 04-30-2009 

288 197 

1303 1303 

1303 1303 

37, Total Penalty, Add line 36, columns A through D .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .......... . .. 37, 

38, Total Perdy and Interest. Add lines 26 and 37, Enter here and on Fonm 4567, lin 

Form 4588, line 52, or Fonm 4590, line 37 • • • • • • • • • • • • • • • • 

e 46, or Form 4583, line 29, or 

........................ 

PART 4: ANNUALIZA TION WORKSHEET FOR MODIFIED 

GROSS RECEIPTS AND BUSINESS INCOME TAXES 

(If filing Forms 4583,4588, or 4590, see instructions.) A 

• ••••••••••• 38, 

B C 

Complete worksheet if liability is not evenly distributed throughout year, 

39, Gross receipts (GR) 

First 3 Months First 6 Months First 9 Months 

40, Subtractions 

41, Modified GR Subtract line 40 from line 39 

42, Appcrtionment percentage from Fonm 4567, line 10d 

43, Apportioned GR Tax Base, Multiply line 41 by line 42 

44, Single Business Tax business loss carryforward 

45, Subtract line 44 from line 43. If less than zero, enter zero 

46, Muniply line 45 by 0,8% (0,008) • • • • • • • • • • 

47, Enrichment Prohibition for dealer of new motor vehicles or boats 

48, GR Tax Before Credits, Enter the greater of lines 46 or 47 

49, Business Income (BI) 

50, Additions 

51. BI Tax Base, Add lines 49 and 50 

52. Subtractions •••••••• 

53, Modified BI Tax Base, Subtract line 52 from line 51 

54, Apportioned BI Tax Base, Multiply line 53 by line 42 

55, MBT business loss carryfOlWand; Affordable HOUSing Deduction 

56, Subtract line 55 from line 54, If less than zero, enter zero 

57, BI Tax Before Credits, Multiply line 56 by 4,95% (0,0495) 

58, Total MBT Beifore Credits, Add lines 48 and 57 

59, Annual Surcharge. Multiply line 58 by 21,99% (0,2199) 

(surcharge for the year should not exceed $6,000,000) 

60, MBT (induding surcharge) Before Credits, Add lines 58 and 59 

61 , Nonrefundable Credits 

62. Subtract line 61 from line 50, If less than zero, enter zero 

63, Recapture of certain MBT credits and deductions 

64, Net Tax Liability, Add ~nes 62 and 63 

65. Annualization ratios ...."........ 

66, Annualized tax. Multiply line 64 by line 65 

67, Applicable percentage 

68, Muttiply line 66 by line 67 

69. Combined amounts of line 70 from all preceding columns 

70, ESTIMATE REQlJIREMENTS BY QUARTER Subtract 

line 69 from line 68, If less than zero, enter zero, Enter 

39 

40 

41 

42 

43 

44 

46 

46 

47 

48 

49 

50 

51 

52 

53 

54 

55 

56 

57 

58 

59 

60 

61 

62 

63 

64 

65 

66 

67 

68 

69 

here and on pege 1, nne 4 •••••••• 70, 

1% 

4 

21.25% 

XXXXX 

NOTE: T oIals on line 70 must equal 85% of the current year tax liabliity on page 1, line 1, 

+ 1024 2008 63 02 27 9 

1% 1% 

2 1.3333 

42.5% 63.75% 

I 

0 

5208 

01-15-2009 

04-30-2009 

10 c 

781 

78 

4450 00 

4466 00 

0 

Full 12 Months 

1 % 

1 

85% 
Michigan Department of Treasury, Form 4700 (Rev, 01-09) FEIN or TR Number 38-3488505 

MARCECO LTD 

Gross Receipts/Business Income Worksheets 

NOTE: Worksheets may not be all indusive to all taxpayers. There may be additions and/or exdusions that affect gross receipts for Michigan 

Business Tax purposes that are not reflected on federal forms. Limited Liability Companies should choose the appropriate worksheet based on 

their federal retum. Attach this Worksheet to your retum. 

WORKSHEET 1 

INDIVIDUALS AND FIDUCIARIES 

Part 1: Gross Receipts 

1, U.S. Form 1040, Schedule C or C-EZ 

gross receipts (net of retums) 

2. U.S, Form 1040, Schedule C, 

other income • • • • • • •• •••••• 

3, U.S. Form 1040, Schedule D, (a) 

short- and long-term sales price 

4. U.S. Form 1040, Schedule E 

a. Part I, total rents received • 

b. Total royalties received 

5. U.S. Form 4797, gross sales price, (a) 

business assets •••••••••• 

6, Other receipts ••••••••••• 

7 , Total gross receipts. Add lines 1 through 6 

Part 2: Business Income 

8, 

9, 

10. 

11. 

12. 

13. 

14. 

15, 

U.S, Form 1040, Schedule C or C-EZ, net 

profitiloss .............................. 

U.S, Form 1040, Schedule D, gainlloss (b) 

U.S. Form 1040, Schedule E, line 22 rent 

and royalty incomelloss • • • • • • • • • 

U.S. Form 4797 gainlloss not induded in 

Schedule D •••• .. .. .. .. .. ............ 

Net bonus depreciation adjustment (c) • • 

Domestic Production Activities deduction 

based on IRC 199 reported on U.S. Form 

8903, to the extent deducted from federal 

taxable income . Other income • • • • • • • • • • • . .. 

Total business income. Add lines 8 

through 14 .. .. .. .. .. .. .. .. .. .. .. .. ........ 

WORKSHEET 2 

CORPORATIONS 

Part 1: Gross Receipts 

1, U.S. Form 1120, line 1c ••••• 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

WORKSHEET 3 

PARTNERSHIPS AND S CORPORATIONS 

Part 1: Gross Receipts 

1. U.S. Form 1065 or U.S. Form 1120S 

a. Gross receipts (net of retums) • 

b. Other income/receipts • • • • • 

2. U.S. Form 8825, gross income from 

real estate rentals •••••••• 

3. U.S. Form 1065, or 1120S, Schedule D, (a 

short- and long-term sales price 

4. U.S. Form 1065, or 1120S, Schedule K 

a. Gross other rental income •• . 

b. Interest, dividend, royalty income • 

c. Other income •••••••••• 

5. U.S. Form 4797, gross sales price (a) 

business assets •••••••••• 

6. Other receipts •••••••••• 

) 

7. Total gross receipts. Add lines 1 through 6 

Part 2: Business Income 

32850390 

13624 

32864014 

8. U.S. Form 1065, or 1120S Schedule K, Income (loss) 

a. Ordinary incomelloss •••••• 

b. Net real estate rental incomelloss 

c. Net other rental incomelloss • • • 

d. Interest, dividend, and royalty income 

e. Net short-term gainlloss • • 

f. Net long-term gainlloss •••••• 

g. Other portfolio incomelloss 

h. Guaranteed payments to partners or wages paid to a member of a LLC 

Partnership •••••••••••• 

i. Other net gainlloss under section 1231 

j. Net bonus depreciation adjustment (c). 

k. Other income •••••••••••• 

9. Total incomelloss. Add lines 8a through 8k 

10. U.S. Form 1065 or 1120S, Schedule K, Deductions 

337927 

6264 

344191 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

00 

,---------r-, 

2. U.S. Form 1120, lines 4 through 7 00 a. Charitable contributions ••••• • • 00 

3. U.S. Form 1120, line 10 ••••• 00 b. Section 179 expense •••••••• 108104 00 

4. U.S. Form 1120, Schedule D, (a) 

short- and long-term sales price 

c. Deductions related to portfolio income 00 

00 

5. U,S. Form 4797, gross sales price (a) 00 

d. Other deductions (Do not indude 

deductions for domestic production activities (IRC 199» • • • • • • • • 00 

6. Add lines 1 through 5 • • • • • • • • 00 11. Total deductions. Add lines 10 through 10d 1 0 81 0 4 00 

PART 2: Business Income 12, Total business income Subtract line 11 

7. Federal taxable income from U.S, Form 1120 . . 00 from line 9 ............................ 236087 

8. Net bonus depreciation adjustment (c) • • 00 

9. Domestic Production Activities deduction 

based on IRC 199 reported on U.S. Form 

8903, to the extent deducted from federal 

taxable income .............. . . . . . 00 

10. Total business income. Add lines 7 

through 9 ••• . . ................ .. .. .. .. 00 

(a) See the Gross Receipts Checklist on Page 26 for detailed Information for these Items. 

(b) U.S. Forms 1040D and 4797: Report only gains or losses from assets used in a business activity. Do not indude personal gains and losses, 

(c) To compute the business income for MBT purposes, taxpayers who daimed a federal special depreciation under IRC 168(k) on property first 

placed in service in 2008 or later must calculate the net bonus depreciation adjustment on those assets as follows: Net bonus depreciation adjustment in tax year equals federal additional bonus depreciation claimed in tax year plus the amount of depreciation [other than bonus depreciation! 

that is allowed for federal tax purposes in the tax year less the amount of depreciation that is allowed for MBT purposes in the tax year. 

IMPORTANT: For the computation of business income, to the extent that gain or loss is calculated on the sale of a depreciable asset placed in service 

after December 31,2007, calculate and report as if IRC 168(k) were not in effect. 

1024 

00 
.. 

MINNESOTA. REVENUE 

5 Corporation Return 2008 M8 

Tax year beginning 01-01-2008 ,ending 12-31-2008 

Name of corporation 

MARCECO LTD 

Minnesota tax ID 

8904216 

1121 

I 

FederallD number 

38-3488505 

'M Current street address Former name, if changed since 2007 retum: 

~:." :~::: 

3542 ROGER B CHAFFEE SE 

City 

GRAND RAPIDS 

State Zip code 

MI 49548 

Number of enclosed 

Schedules KS: 4 I 

Numberof 

shareholders: 4 

Check all Final Composite Financial Qualified Subchapter 

S Subsidiary 

Qualified business partici- Initial 

that apply: retum income tax - institution pating in a JOBZ zone .X retum 

S corporation taxes (check all that apply): 

federal Schedule D taxes passive income ~-, LIFO recapture 1 , 0 ~--------------~ 

2 Minimum fee from line 21 of M8A (see M8A instructions, page 9)· .2.;..' ' ___________ "'3"'0"-'0>L.,.. 

3 Composite income tax for nonresident shareholders • • • • • 

4 Minnesota income tax withheld for nonresident shareholders. 

.3 -------------------

(enclose computation) 

(enclose M8A) 

(enclose Schedules KS) 

If you received a Form AWC from a shareholder, check box: 4 ' (enclose Forms AWC) 

5 Add lines 1 through 4 • • • • • • • • • • • • • • • • • • • • . . . . . . . . . .. ·5 300 

6 Employer transit pass credit not passed through to shareholders, 

limited to the sum of lines 1 and 2 above (enclose Schedule ETP) •••••••••••••• • 6 _______________ _ 

7 Subtract line 6 from line 5 • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • ·7 300 -------"'-=-

8 Minnesota Endangered Resources Partnership donation (see 

instructions, page 4). This will reduce your refund or increase your tax .8 _______ _ 

9 Add lines 7 and 8 • • • • • • • • • • • • • • • • • • • • • • • • • • 9 300 -------"'-=-

10 Enterprise zone credit not passed through 

to shareholders (enclose Schedule EPC) 

11 Job Opportunity Building Zone jobs credit not passed 

through to shareholders (enclose Schedule JOBZ) • • 

· 10 

• 11 

12 Credit for tuberculosis testing on cattle (see instructions, page 5) • 12 

13 Estimated tax and/or extension payments made for 2008 • • • • • 13 

14 Add lines 10 through 13 • • • • • • • • • • • • • • • • • • • • • 14 

15 Tax due. If line 9 is more than line 14, subtract line 14 from line 9 • 15 

16 Penalty (see instructions, page 5) ••••••••••••••••••••••••••••••••• 16 

17 Interest (see instructions, page 5) ••••••••••••••••••••••••••••••••• 17 

18 Charge for underpaying estimated tax (enclose Schedule EST) • • • • • • • • • • • • • • • • • 18 

19 AMOUNT DUE. If you entered an amount on line 15, add lines 15 through 18. 

Check payment method: X check (enclose PV40), or 

20 Overpayment. If line 14 is more than the sum of lines 

9 and 18, subtract line 9 and line 18 from line 14 •••• 

21 If you are paying estimated tax for 2009, enter the 

electronic (see options, page 2) • 19 

· 20~ __________ ~0_ 

amount from line 20 you want applied to it, if any • • • • • • • • • • • 21 :::; 0 "-'---------"<--

22 REFUND. Subtract line 21 from line 20 • • • • • • • • • • • • • • • • • • • • • • • • • 22 

23 To have your refund direct deposited, enter the following. Otherwise, you will receive a check. 

o 

300 

o 

o 

o 

300 

o 

Account type: Routing number ,....A..:.cco.:.,:..:u_n..:,.t _nu..:.m-,--:.be..:.ry--,....--, __ ,---.. __ .--.,-__ .-----.---r_.--.,-__ .-----, 

Checking Savings L! --"-I ---,-I --.LI---LI---l-.---.I...........L----l---!! IL--"---'---L---I---' __ L-L-...L--L-...--'--'--'---"---'---L--L---! 

Signature of officer Date Daytime phone 

06-04-2009 Print name of officer E-mail address for cooespondence, if desired 

Paid preparer's signature Date Daytime phone 

I authorize the MN Dept of 

Revenue to discuss thIS tax ,X retum with the person below, 

This e-maIl address belongs to: 

Employee Paid preparer Other 

Preparer's tax ID, SSN or PTIN 

06-04-2009 616-447-8639 P00531251 

Include a copy of federal Form 1120S, Schedules K and K-1. and other federal schedules 

Mail to: Minnesota S Corporation Income Tax, Mail Station 1770, St. Paul, MN 55145-1770 
MINNESOTA. REVENUE 

Apportionment and Minimum Fee 2008 

If you conducted all your business in Minnesota during the tax year, complete columns A and 8 i Enter 

1.00000 on line lB. 8 1 

QSSS designated filer 

If you're a qualified business participating in a JOBZ 

zone in Minnesota and all your property and payroll 

are within the zone, you are exempt from the minimum fee. Enter zero on line 21 below and on line 2 

of Form MB. 

S corporation name MARCECQ LT ______ _ 

Minnesota tax 10 8 904216 

FEIN 38-3488S0S ____ _ 

""-'Y 

IIdDr 

A 

Total in and 

oUside Mniesoca 

Average inventory 1 433212 

2 Average tangible property 

(at original cost) 2 394280 

3 Average land owned/used 

(at original cost) 3 0 

4 Financial institutions only: 

average intangible property 4 0 

5 Capitalized rents (gross rents x 8) 5 ,,- 443672 

6 Total property (add lines 1-5; 

if Col. A is zero, see ins!., pg. 7) 6 1271164 

7 Minnesota property factor (divide each 

line 68 amount by line 6A; carry to five decimal places) 7 ' 

8 Property factor weight •••••••••••••••• 8 

9 Weighted ratio for PROPERTY (multiply line 7 by line 8) 9 

10 PayrolUofficer's compensation 

(if Col. A is zero, see ins!., pg. 7) • 10 :" ___ ~4~S~6~4~4~3~ 11 Minnesota payroll factor (divide each 

line 1 08 amount by line 1 OA; carry to five decimal places) 11 

12 Payroll factor weight ••••••••••••••••• 12 

13 Weighted ratio for PAYROLL (multiply line 11 by line 12) 13 

14 Sales or receipts (if a financial institution L 

or if Col. A is zero, see ins!., pg. 7) 14 L..t "-; __ ...:3"",2=->:8:..::S...,2",-",3.=2",,8<-...J 

15 Minnesota sales factor (divide each 

20070 

o 

o 

o 

160S60 

180630 

0.14210 

0.095 

0.013S0 

o 

0.095 

2896146 

line 148 amount by line 14A; carry to five decimal places) 15 " _--",0~ • ..::.0..::.8-=8=1-=6 

16 Sales factor weight • • • • • • • • • • • • • • • • • • • • • • • 16 0.81 

17 Weighted ratio for SALES (multiply line 15 by line 16) 

18 APPORTIONMENT FACTOR 

17 0.07141 

(Add lines 9, 13 and 17 in each column OR if you conduct all 

activity in Minnesota, enter 1.00000 on line 18) •• • ••• 18 ~j 0.08491 --.=..:'-"-~'-"'-'''-

Minimum fee calculation (read instructions on pg. 9) 

19 Adjustments (see instructions, pg. 9) 

20 Add lines 6, 10, 14 and 19 

21 Minimum fee (see table below) ••• 

19 

20 

21 

o 

3076776 

300 

Add line 21 amounts and enter the total on Form M8, line 2. 

"the amount Enter this .mount If the amount 

on Une 20 is: on lIne 21: on 1ne20 Is: 

less than $500,000 SO $5,000,000 to $9,999.999 

, $500,000 to $999.999 5100 510.000.000 to $19,999,999 

51 ,000,000 10 $4,999,999 $300 $20,000,000 at more 

In Mimesola 

0.095 

0.095 

O.Bl 

Enter this amount 

on One 21: 

51.000 

$2,000 

$5,000 

M8A 

1121 

In Mimesola 

0.095 

0.095 

0.81 
MINNESOTA. REVENUE Schedule KS 

1121 

Shareholder·s Share of Income, Credits and Modifications 2008 

S corporation: Complete and provide Schedule KS to each nonresident shareholder and Minnesota shareholder who has 

adjustments to income. 

Tax year beginning 2008 and ending Amended KS: 

Shareholders federal ID Of Social Security m.'f11ber Corporation's federailD number Corporation's Minnesota tax 10 

383488505 8904216 Shareholder's name Corporation's name 

~.'., DAVE DENHERDER MARCECO LTD 

Or>· Address Address 

.~ .•.. 600 BROADWAY NW APT 332B 

" :14 

I . I 

:·s 

.. it· 

• 

It " 1I 

0 

* d ' .. ".,' 

3542 ROGER B CHAFFEE SE 

City State Zip code City State Zip code 

GRAND RAPIDS MI 49504 GRAND RAPIDS MI 49548 

Entity of shareholder X Individual Estate 

(check one box): Trust Exempt Organization I Shareholder's percentage of 

stock ownership for tax year: 20.00 

Calculate lines 1-16 the same for all resident and nonresident shareholders. Calculate 

lines 17-30 for nonresident shareholders only. Round amounts to the nearest whole dollar. 

Modifications to federal taxable income 

1 Interest income from non-Minnesota state and municipal bonds 

2 State income tax deducted in arriving at ordinary or net rental income 

3 Expenses deducted that are attributable to income not taxed by Minnesota (other than interest or mutual fund dividends from U.S. bonds) 

4 If the S corporation elected section 179 expensing, enter the shareholder's flow-through section 179 expensing for Minnesota purposes 

5 Federal bonus depreciation .. · · ... 6 Federal tax-exempt subsidies paid to employers for providing 

prescription drug coverage for their retirees · . ...... 7 Certain fines, fees and penalties deducted 

federally as a trade or business expense · .. · . 

8 Interest from U.S. govemment bond obligations, minus any expenses 

deducted on the federal return that are attributable to this income 

9 Job Opportunity Building Zone (JOBZ) business 

and investment income exemptions · .. · 

10 Enterprise zone credit . . . · . . . · . 

11 Employer transit pass credit 

12 Jobs credit for participating in a JOBZ zone 

Relating to alternative minimum tax 

. 

2 

3 

4 

5 1392 

6 

7 

8 

9 

· 10 

• 11 

· 12 

13 Intangible drilling costs •••••••••••••••••••••••• 13 ________ _ 

14 Gross income from oil, gas and geothermal properties .14 -------

15 Deductions allocable to oil, gas and geothermal properties · 15 

16 Depletion •••.••••••••••••••••••••••••••• 16 

Continued next page 

Fonn M1 filers, include on: 

· , Line 1, Schedule M1 M 

· . Line 2, Form M1 

· . Line 5, Schedule M1M 

· . see instfor line 7, M 1 M 

.. see inst for line 6, M1M 

· . line 8, Schedule M1M 

· . Line 9, Schedule M1M 

· . Line 6, Form M1 

· . line 26, Schedule M1M 

· . Line 33, Form M1 

· . Line 22, Form M1 

· . Line 31, Form M1 

· . Lines 13-16 are used to 

compute the amounts on 

lines 6 and 7 of Schedule M1MT. See M1MT 

instructions for details. 

% 
MINNESOTA. REVENUE KS 

Continued 

1121 

Shareholder'S name Shareholder's Social Security number 

DAVE DENHERDER S corporation's name S corporation's federal 10 number S corporation's Mfnnt:!'sota [0 number 

MAR E 0 LTD 38-3488505 8904216 

, , 

: ',,.' 0' 

•• r 

-. 

s 

i 

d 

~ 

·f 

$' 

" a 

-r 

.. 

h 

<> . :, 

d 

e ,rs 

Minnesota portion of amounts from federal Schedule K-1 (11205) 

17 Minnesota source gross income .................. .. .. .. .. .. .. .17 34092 

18 Ordinary Minnesota source income (loss) 

from trade or business activities .......................... • 18 5739 

19 Income (loss) from Minnesota rental real estate 

and other Minnesota rental activities .......................... • 19 

20 Interest income • • ........................................ .. .. .. .. .. .. .20 

21 Ordinary dividends .................. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .21 

22 Royalties .. .. .. .. .. .. .. .. .. .. .. .. .. . . . ............................ ·22 

23 Net Minnesota short-term capital gain (loss) .......................... ·23 

24 Net Minnesota long-term capital gain (loss) ............................ .24 

25 Section 1231 Minnesota net gain (loss) . . .. .. .. .. .. .. .. .............. .25 

26 Other Minnesota income (loss). (Describe type of income 

or in dude separate sheet: ) .26 

27 S corporation's Minnesota apportionment factor (line 18 of M8A) ·27 0.08491 

Composite income tax or nonresident withholding 

28 Minnesota source distributive income (see instructions) .28 5739 

29 Minnesota composite income tax paid by S corporation. If the 

shareholder elected composite income tax, check this box: .29 

30 Minnesota income tax withheld for nonresident shareholder 

not electing to file composite income tax. If the shareholder 

completed and Signed a Form AWC, check this box: ••••••• ·30 

5 corporations: Include this schedule and copies of federal 5chedules K and K-1 when you file your Form MS. 

Shareholders: Include this schedule when you file your Minnesota Form M1. 

· . information only (see inst.) 

· . Line 6, col S, Sch M1NR 

· . Line 6, col S, Sch M1 NR 

· . Line 2, col S, Sch M1NR 

· . Line 2, col S, Sch M1 NR 

· . Line 6, col S, Sch M1NR 

.. Line 4, col S, Sch M1NR 

· . Line 4, col S, Sch M1NR 

· . Line 4 or 8, col S, M1 NR 

· . Line 8, col S, Sch M1 NR 

· . information only 

· . information only 

· . composite income tax 

· . Line 3, Schedule M1W 
MINNESOTA. REVENUE Schedule KS 

Shareholder's Share of Income, Credits and Modifications 2008 

S corporation: Complete and provide Schedule KS to each nonresident shareholder and Minnesota shareholder who has 

adjustments to income. 

Tax year beginning • 2008 and ending 

1121 

Amended KS: 

Shareholder's federallD IX Social Sea.Jfity number Corporation's federallD number Corporation's Minnesota tax ID 

383488505 8904216 Shareholder's name Corporation's name 

p~ MARK DENHERDER MARCECO LTD 

or Address Address 

~ 736 FULTON ST NE APT 1 3542 ROGER B CHAFFEE SE 

A 

I 

J 

$ 

h. 

:a 

t 

e: ·h 

o 

I 

d 

e 

.. 

$ 

City State Zip code City State Zip code 

GRAND RAPIDS MI 49503 GRAND RAPIDS MI 49548 

Entity of shareholder eX Individual Estate 

(check one box): Trust Exempt Organization I 

Shareholder's percentage of 

stock ownership for tax year: 30.00 

Calculate lines 1-16 the same for all resident and nonresident shareholders. Calculate 

lines 17-30 for nonresident shareholders only. Round amounts to the nearest whole dollar. 

Modifications to federal taxable income 

Interest income from non-Minnesota state and municipal bonds 

2 State income tax deducted in arriving at ordinary or net rental income 

3 Expenses deducted that are attributable to income not taxed by Minnesota (other than interest or mutual fund dividends from U.S. bonds) 

4 If the S corporation elected section 179 expensing, enter the shareholder's flow-through section 179 expensing for Minnesota purposes 

5 Federal bonus depreciation 

6 Federal tax-exempt subsidies paid to employers for providing 

prescription drug coverage for their retirees • • • • • • • • • 

7 Certain fines, fees and penalties deducted 

federally as a trade or business expense •••••••.•••••• 

8 Interest from U.S. govemment bond obligations, minus any expenses 

deducted on the federal return that are attributable to this income 

9 Job Opportunity Building Zone (JOBZ) business 

and investment income exemptions • • • • • • • • • • • • • • • • • 

10 Enterprise zone credit 

11 Employer transit pass credit 

12 Jobs credit for participating in a JOBZ zone 

Relating to alternative minimum tax 

2 

3 

4 

5 

6 

7 

8 

9 

• 10 

• 11 

• 12 

2088 

13 Intangible drilling costs ., •••••••••••••••••••••• 13 ________ _ 

14 Gross income from oil, gas and geothermal properties .14 

15 Deductions aHocable to oil, gas and geothermal properties • 15 

16 Depletion ••••••••••••••••••••••••••••••• 16 

Continued next page 

Fonn M1 filers, include on: 

· . Line 1 , Schedule M 1 M 

· . Line 2, Form Ml 

· . Line 5, Schedule M1M 

· . see inst for line 7, M1M 

· . see inst for line 6, M1M 

· . Line 8, Schedule M1M 

· . Line 9, Schedule M1M 

· . Line 6, Form Ml 

· . Line 26, Schedule M1M 

· . Line 33, Form M1 

· . Line 22, Form M1 

· . Line 31, Form Ml 

· . Lines 13-16 are used to 

compute the amounts on 

lines 6 and 7 of Schedule Ml MT. See M1 MT 

instructions for details. 

% 
MINNESOTA. REVENUE 

Shareholders name 

MARK DENHERDER 

Shareholders Social Security number 

KS 

Continued 

1121 

S corporation's name S corporation's federal 10 number S corporation's Minnesota 10 number 

MARCECO LTD 38-3488505 8904216 

o 

.. 

r .. ' 

• .' . ,1 

d 

"e.' , 

';f 

Minnesota portion of amounts from federal Schedule K-1 (11205) 

17 Minnesota source gross income 

18 Ordinary Minnesota source income (loss) 

from trade or business activities 

19 Income (loss) from Minnesota rental real estate 

and other Minnesota rental activities 

.17 

·18 

• ·19 

20 Interest income • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 20 

21 Ordinary dividends ••••••••••••••••••••• • • • • • • • 21 

22 Royalties • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 22 

23 Net Minnesota short-term capital gain (loss) ••••••••••••••• 23 

51139 

8608 

' 

. 

. 

It .' 24 Net Minnesota long-term capital gain (loss) •••••••••••••• • 24 

a 

t' 

e 

ft 

r 

d ', ... ,',c' 

.... 

25 Section 1231 Minnesota net gain (loss) ••••••••••••••••• ·25 

26 Other Minnesota income (loss). (Describe type of income 

or include separate sheet: ). 26 

27 S corporation's Minnesota apportionment factor (line 18 of M8A) • 27 

Composite income tax or nonresident withholding 

28 Minnesota source distributive income (see instructions) •• 28 

29 Minnesota composite income tax paid by S corporation. If the 

shareholder elected composite income tax, check this box: • • 29 

30 Minnesota income tax withheld for nonresident shareholder 

not electing to file composite income tax. If the shareholder 

completed and signed a Form AWC, check this box: •••••••• 30 

0.08491 

8608 

S corporations: Include this schedule and copies of federal Schedules K and K·1 when you file your Form MS. 

Shareholders: Include this schedule when you file your Minnesota Form Mi. 

· . information only (see inst) 

· . Line 6, col B, Sch M1 NR 

· . Line 6, col S, Sch M1NR 

· . Line 2, col S, Sch M1NR 

· . Line 2, col S, Sch M1 NR 

· . Line 6, col S, Sch M1NR 

· . Line 4, col B, Sch M1 NR 

· . Line 4, col S, Sch M1 NR 

· . Line 4 or 8, col S, M1 NR 

· . Line 8, col S, Sch M1 NR 

· . information only 

· . information only 

· . compOSite income tax 

· . Line 3, Schedule M1W 
t' 

MINNESOTA. REVENUE Schedule KS 

Shareholder's Share of Income, Credits and Modifications 2008 

S corporation: Complete and provide Schedule KS to each nonresident shareholder and Minnesota shareholder who has 

adjustments to income. 

Tax year beginning , 2008 and ending 

1121 

Amended KS: 

Shareholders federal 10 or Social Security number Ccrporation's federal 10 number Corporation's Minnesota tax 10 

383488505 8904216 Shareholders name 

~... RUTH DENHERDER 

Corporation's name 

MARCECO LTD 

Or" Address Address 

740 S FEDERAL ST APT 908 3542 ROGER B CHAFFEE SE 

City 

CHICAGO 

State 

IL 

Zip code 

60605 

City State Zip code 

GRAND RAPIDS MI 49548 

Entity of shareholder X Individual Estate 

(check one box): Trust Exempt Organization I Shareholder's percentage of 

stock ownership for tax year. 30.00 

Calculate lines 1-16 the same for all resident and nonresident shareholders. Calculate 

lines 17-30 for nonresident shareholders only. Round amounts to the nearest whole dollar. 

ModifICations to federal taxable income 

1 Interest income from non-Minnesota state and muniCipal bonds 1 

2 State income tax deducted in arriving at ordinary or net rental income 2 

3 Expenses deducted that are attributable to income not taxed by Minnesota (other than interest or mutual fund dividends from U.S. bonds) 3 

4 If the S corporation elected section 179 expensing, enter the shareholder's flow-through section 179 expensing for Minnesota purposes 

5 Federal bonus depreciation • • • • • • • • • • • • 

6 Federal tax-exempt subsidies paid to employers for providing 

preScription drug coverage for their retirees •••• • • • • • 

7 Certain fines, fees and penalties deducted 

federally as a trade or business expense ••••••••••••• 

8 Interest from U.S. govemment bond obligations, minus any expenses 

deducted on the federal retum that are attributable to this income 

9 Job Opportunity Building Zone (JOBZ) business 

and investment income exemptions • • • • • • • • • • • • • • • • • 

10 Enterprise zone credit 

11 Employer transit pass credit 

12 Jobs credit for participating in a JOBZ zone 

Relating to alternative minimum tax 

13 Intangible drilling costs ••••• 

14 Gross income from oil, gas and geothermal properties 

15 Deductions aHocable to oil, gas and geothermal properties 

5 

6 

7 

8 

9 

.10 

• 11 

• 12 

.13 

·14 

• 15 

16 Depletion ••••••••••••••••••••••••••.•.•• 16 

2088 

-----------------

Continued next page 

Form M1 filers, include on: 

· . Line 1, Schedule M1M 

· . Line 2, Form M1 

· . Line 5, Schedule M1M 

· . see inst for line 7, M1 M 

· . see inst for line 6, M1 M 

· . Line 8, Schedule M1M 

· . Line 9, Schedule M1M 

· . Line 6, Form M1 

· . Line 26, Schedule M1M 

· . Line 33, Form M1 

· . Line 22, Form M1 

· . Line 31, Form M1 

· .Lines 13-16 are used to 

compute the amounts on 

lines 6 and 7 of Schedule M1MT. See M1MT 

instructions for details. 

% 
.' 

MINNESOTA. REVENUE KS 

Continued 

1121 

Shareholder's name Shareholder's Social Secunty number 

R TH DENHERDER S corporation's name S corporation's Minnesota 10 number 

MARCECO LTD 8-3488505 8904216 

II 

9" 

,~ 

~~" " 

•• '>S' 

i 

d 

• D 

t 

:. ." .' 

Minnesota portion of amounts from federal Schedule K-1 (11205) 

17 Minnesota source gross income • 17 ___ -""5'-='1'-"'1~3'_='9_ 

18 Ordinary Minnesota source income (loss) 

from trade or business activities •••••••••••••• 18 8608 

19 Income (loss) from Minnesota rental real estate 

and other Minnesota rental activities • 19 

20 Interest income • • .20 -------

21 Ordinary dividends .21 

22 Royalties • • • • • ·22 

23 Net Minnesota short-term capital gain (loss) .23 

24 Net Minnesota long-term capital gain (loss) ·24 ----------------- II ,: c. 

$'" 25 Section 1231 Minnesota net gain (loss) ••••••••• .25 ----------------- • 26 Other Minnesota income (loss). (Describe type of income 

0- ,1, or include separate sheet: ) .26 

.. 

• 27 S corporation's Minnesota apportionment factor (line 18 of M8A) ·27 

Composite income tax or nonresident withholding 

28 Minnesota source distributive income (see instructions) .28 

29 Minnesota composite income tax paid by S corporation. If the 

shareholder elected composite income tax, check this box: • 29 

30 Minnesota income tax withheld for nonresident shareholder 

not electing to file compOSite income tax, If the shareholder 

completed and signed a Form AWC, check this box: •••••••• 30 

0.08491 

8608 

S corporations: Include this schedule and copies of federal Schedules K and K-1 when you file your Form MS. 

Shareholders: Include this schedule when you file your Minnesota Fonn M1. 

· . information only (see inst.) 

· . line 6, col S, Sch M1 NR 

· . line 6, col S, Sch M1NR 

· . line 2, col S, Sch M1 NR 

· . line 2, col S, Sch M1 NR 

· . line 6, col S, Sch M1 NR 

· . line 4, col S, Sch M1 NR 

· . line 4, col S, Sch M1 NR 

· . line 4 or 8, col S, M1 NR 

· . line 8, col S, Sch M1 NR 

· . information only 

· . information only 

· . composite income tax 

· . line 3, Schedule M1W 
of " 

MINNESOTA. REVENUE Schedule KS 

Shareholder's Share of Income, Credits and Modifications 2008 

S corporation: Complete and provide Schedule KS to each nonresident shareholder and Minnesota shareholder who has 

adjustments to income. 

Tax year beginning . 2008 and ending 

1121 

Amended KS: 

Shareholder's federal 10 ex Social Security number Co.<poration's federal 10 number Corporation's Minnesota tax 10 

.~ 

o,J)J" 

,~. 

; ~; 

.', 

, 

383488505 8904216 Shareholder's name Corporation's name 

JAMAL AQEL MARCECO LTD Address Address 

10891 CHEYENNE TRAIL 3542 ROGER B CHAFFEE SE 

City State Zip code City State Zip code 

GRAND RAPIDS MI 49544 GRAND RAPIDS MI 49548 

Entity of shareholder X Individual 

(check one box): Trust 

Estate 

Exempt Organization I Shareholder's percentage of 

stock ownership for tax year: 20.00 

Calculate lines 1-16 the same for all resident and nonresident shareholders. Calculate 

lines 17-30 for nonresident shareholders only. Round amounts to the nearest whole dollar. 

Modifications to federal taxable income 

1 Interest income from non-Minnesota state and municipal bonds 

2 State income tax deducted in arriving at ordinary or net rental income 2 

3 Expenses deducted that are attributable to income not taxed by Minnesota (other than interest or mutual fund dividends from U.S. bonds) 3 

4 If the S corporation elected section 179 expensing, enter the shareholder'S flow-through section 179 expensing for Minnesota purposes 

5 Federal bonus depreciation 

6 Federal tax-exempt subsidies paid to employers for providing 

prescription drug coverage for their retirees ••••••••• 

7 Certain fines, fees and penalties deducted 

federally as a trade or business expense •••••••••••••• 

8 Interest from U.S. govemment bond obligations, minus any expenses 

deducted on the federal return that are attributable to this income 

9 Job Opportunity Building Zone (JOBZ) business 

and investment income exemptions • • • • • • • • • • • • • • • • • 

10 Enterprise zone credit 

11 Employer transit pass credit 

12 Jobs credit for participating in a JOBZ zone 

Relating to alternative minimum tax 

4 

5 

6 

7 

8 

9 

• 10 

• 11 

• 12 

13 Intangible drilling costs •••••••••••••••••••••••• 13 

14 Gross income from oil, gas and geothermal properties • • • • • • • 14 

15 Deductions allocable to Oil. gas and geothermal properties .15 

1392 

-----------------

-------

16 Depletion ••••••••••••••••••••••.•••••••• 16 ____________ _ 

Continued next page 

Fonn M1 frlers, include on: 

· . line 1, Schedule M 1 M 

· . line 2. FOffi1 M1 

· . line 5, Schedule M1M 

· . see inst for line 7, M1M 

., see instforline 6, M1M 

· . line 8, Schedule M1M 

· . Line 9, Schedule M1M 

· . Line 6, FOffi1 M1 

· . Line 26, Schedule M1M 

· . Line 33, FOffi1 M1 

· . Line 22, FOffi1 M1 

· . line 31, FOffi1 M1 

· . Lines 13-16 are used to 

compute the amounts on 

lines 6 and 7 of Schedule M1MT. See M1MT 

instructions for details. 

% 
MINNESOTA. REVENUE KS 

Continued 

1121 

Shareholder's name Shareholder's Social Security number 

JAMAL A EL S corporation's name S corporation's federal 10 number S corporation's Minnesota 10 number 

MARCECO LTD 38-3488505 8904216 

N 

• ti 

" . 

••• • 

.. . . ".

"d" 

. ' ' 

n 

t 

... ' 

It 

a 

,t: 

.. 

"'l' 

,0 't.·· 

.4 .. 

.r. • 

S 

Minnesota portion of amounts from federal Schedule K-1 (1120S) 

17 Minnesota source gross income 

18 Ordinary Minnesota source income (loss) 

from trade or business activities 

19 Income (loss) from Minnesota rental real estate 

and other Minnesota rental activities 

20 Interest income • • 

21 Ordinary dividends 

22 Royalties • • • • • 

23 Net Minnesota short-term capital gain (loss) 

24 Net Minnesota long-term capital gain (loss) 

. 17 

·18 

.19 

.20 

.21 

·22 

·23 

.24 

25 Section 1231 Minnesota net gain (loss) •••••••••••••••••• 25 

26 Other Minnesota income (loss). (Describe type of income 

or in dude separate sheet: ). 26 

27 S corporation's Minnesota apportionment factor (line 18 of M8A) • 27 

Composite income tax or nonresident withholding 

28 Minnesota source distributive income (see instructions) 

29 Minnesota composite income tax paid by S corporation. If the 

shareholder elected composite income tax, check this box: 

30 Minnesota income tax withheld for nonresident shareholder 

not electing to file composite income tax. If the shareholder 

.28 

.29 

completed and signed a Form AWC, check this box: ••••••• • 30 

34092 

5738 

0.08491 

5738 

S corporations: Include this schedule and copies of federal Schedules K and K-1 when you file your Fonn MS. 

Shareholders: Include this schedule when you file your Minnesota Form Mi. 

· . information only (see inst) 

· . Line 6, col B, Sch M1 NR 

· . Line 6, col B, Sch M1 NR 

.. Line 2, col B. Sch M1NR 

· . Line 2, col B, Sch M1NR 

· . Line 6, col B, Sch M1 NR 

· . Line 4, col B, Sch M1 NR 

· . Line 4, col B, Sch M1 NR 

· . Line 4 or 8, col B, M1 NR 

· . Line 8, col B, Sch M1 NR 

· . information only 

· . information only 

· . compOSite income tax 

· . Line 3, Schedule M1W 
Form 11205 

Department of the Treasury 

Internal Revenue Service (77) 

U.S. Income Tax Return for an S Corporation 

.. Do not file this form unless the corporation has filed or is 

attaching Form 2553 to elect to be an S corporation. 

.. See separate instructions. 

For calendar year 2007 or tax year beginning 2007 ending 

A S election effective date Use Name 

09-01-1999 IRS MARCECO, LTD. 

B Business activity code label. Number, street, and room or suite no. If a P.O. box, see instructions. number (see instructions) Other454210 wise, 3542 ROGER B CHAFFEE SE 

C Check if Sch. M-3 print or City or town, state, and ZIP code 

~ type. attached GRAND RAPIDS MI 49548 

OMB No. 1545-0130 

2007 

20 

D ~ idetllilicatioo.1lI.mbet' 

38-3488505 

E Date incorporated 

09-01-1999 

F Total assets (see instructions) 

$ 1 219 207 

G Is the corporation electing to be an S corporation beginning with this tax year? Yes X No If "Yes," you must attach Form 2553 if not already filed 

H Check if: (1) ~ . Final retum (2) Name Change (3) Address Change 

(4) Amended retum (5) ~~-, S election termination or revocation 

Enter the number of shareholders in the corporation at the end of the tax year ......................... 4 

Caution. Include only trade or business income and expenses on lines 1 a through 21 See the instructions for more information 

Income 

Deductions 

(see 

instrucions for 

limitaions) 

T 

a 

P 

ax 

nd 

aym ents 

Sign 

Here 

Paid 

1 a Gross receipts or sales I 23 666 231 I b Less returns and aUowances I 94 Ic Bal" 1c 23 666 137 

2 Cost of goods sold (Schedule A, line 8) .. .. .. .. .. .. .. .. .. .. .. . . . · . · . 2 i 22 590 071 

3 Gross profit. Subtract line 2 from line 1 c ...................... · . · . 3 1 076 066 

4 Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797) · . · . 4 

5 Other income (loss) (see instructions - attach statement) · . • ~~A:rE;t-.1E.NT f! 1 5 29 095 

6 Total income (loss). Add lines 3 through 5 · ... 6 ! 1, 105 161 

7 Compensation of officers .......... .. .. .. .. .. 7 30 000 

8 Salaries and wages (less employment credits) 8 322 791 

9 Repairs and maintenance 9 29 008 

10 Bad debts ....... · 10 

11 Rents ... . . . · . 11 44 576 

12 Taxes and licenses · ~~T_~~L. 12 32 620 

13 Interest .. . . . . · 13 25 804 

14 Depreciation not claimed on Schedule A or elsewhere on retum (attach Form 4562) 14 8 594 

15 Depletion (Do not deduct oil and gas depletion.) . 15 

16 Advertising ...................... · 16 

17 Pension, profit-sharing, etc., plans · 17 

18 Employee benefit programs .. · . · · 18 34 218 

19 Other deductions (attach statement) · • ~~A:rE;t-.1E.NT f! ~ 19 455 221 

20 Total deductions. Add lines 7 through 19 · .. 20 982 832 

21 Ordinary business income (loss). Subtract line 20 from line 6 · · .. 21 122 329 

22a Excess net passive income or LIFO recapture tax (see instructions) 22a 

b Tax from Schedule D (Form 1120S) ................... .. .. .. .. .. . 22b 

c Add lines 22a and 22b (see instructions for additional taxes) ... · .. .. .. .. .. .. .. .. .. .. . 22c 

23a 2007 estimated tax payments and 2006 overpayment credited to 2007 23a 

b Tax deposited with Form 7004 ..................... · · 23b 

c Credit for federal tax paid on fuels (attach Form 4136) . 23c 

d Add lines 23a through 23c ........ . . .. .. .. .. .. .. . · .. · . .. ........ 23d -,-~ 

24 Estimated tax penalty (see instructions). Check if Form 2220 is attached · .. · . ... 24 ~ 

25 Amount owed. If line 23d is smaller than the total of lines 22c and 24, enter amount owed ... . . 25 

26 Overpayment If line 23d is larger than the total of lines 22c and 24, enter amount overpaid •••••• 26 

27 Enter amount from line 26 Credited to 2008 estimated tax.. I Refunded .. 27 

Under penalties of perjury, I dedare that I have examined this return, induding accompanying schedules and statements, and to the best of my knowfedge and belief, rt is 

true. correct, and complete. Dedaration of preparer (other than taxpayer) is based on aD information of which preparer has any knowledge. 

May the IRS disruss this return 

~ [ ~PRESIDENT with the preparer shown bel", 

Y Signature of officer rTrtle 

~ ----

Date (see instructions)? eX Yes No 

Preparer's 

signature 

Preparer's SSN or PTIN 

~ I Date II Check if self05-29-2009 employed •.. POO531251 Preparer's Firm's name (or ~ MCDONALD AND ASSOCIATES PC EIN 38-2529205 Use Only yours if self-employed), 2156 PLAINFIELD AVE NE 

address, and ZIP code GRAND RAPIDS MI 49505 Phone no. (616)447-8639 

For Privacy Act and Paperwork Reduction Act Notice, see separate instructions. EEA Form 11205 (2007) 
Form 1120S (2007) MARCECO LTD. 38-3488505 Page 2 

L Schedule A I Cost of Goods Sold (see instructions) 

1 Inventory at beginning of year 1 731 611 

2 Purchases 2 22 138 549 

3 Cost of labor .. . 3 

4 Additional section 263A costs (attach statement) 4 

5 Other costs (attach statement) ~~A:r~r-.:!E!'IT if ~ 5 39 419 

6 Total. Add lines 1 through 5 .. 6 22 909 579 

7 Inventory at end of year • .. . . . . 7 319 508 

8 Cost of goods sold. Subtract line 7 from line 6. Enter here and on page 1, line 2 8 22,590,071 ------ 9 a Check all methods used for valuing clOSing Inventory: (I) X Cost as descnbed In Regulations section 1.471-3 

(ii) Lower of cost or market as described in Regulations section 1.471-4 

(iii) Other (Specify method used and attach explanation.) ~ 

--------------------------------------------------=- b Check ifthere was a writedown of subnormal goods as described in Regulations section 1,471-2(c) 

e Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) 

d If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of closing 

inventory computed under LIFO • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • .. 1 

L-~=_ 

9d 1 ____ ~ __ -=~ __ _ 

e If property is produced or acquired for resale, do the rules of section 263A apply to the corporation? Yes X No 

Was there any change in determining quantities, cost, or valuations between opening and closing inventory? Yes No 

If ''Yes,'' attach explanation. 

LSchedule B I Other Information(see instructions) Yes No 

1 Check accounting method: a Cash b X Accrual e -- Other (specify) ~ 

2 See the instructions and enter the: 

a Business activity ~SALES b Product or service ... LONG DISTANCE 

3 At the end of the tax year, did the corporation own, directly or indirectly, 50% or more of the voting stock of a domestic 

corporation? (For rules of attribution, see section 267(c).) If "Yes," attach a statement showing: (a) name and employer 

identification number (EIN), (b) percentage owned, and (e) if 100% owned, was a QSub election made? ............ .. .......... X 

4 Has this corporation filed, or is it required to file, a retum under section 6111 to provide information on any reportable 

transaction? .................................................................. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . . . . . ---- 5 Check this box if the corporation issued publicly offered debt instruments with original issue discount ~ .. .............. -

If checked, the corporation may have to file Form 8281, Information Retum for Publicly Offered Original Issue Discount 

Instruments. 

6 If the corporation: (a) was a C corporation before it elected to be an S corporation or the corporation acquired an 

asset with a basis determined by reference to its basis (or the basis of any other property) in the hands of a 

C corporation and (b) has net unrealized built-in gain (defined in section 1374(d)(1» in excess of the net recognized 

built-in gain from prior years, enter the net unrealized built-in gain reduced by net recognized built-in gain from prior 

years· ••••••••••••••• .. ................ ~ $ 

7 Enter the accumulated eamings and profits of the corporation at the end of the tax year. $ .. 

8 Are the corporation's total receipts (see instructions) for the tax year and its total assets at the end of the tax year 

less than $250,000? If "Yes," the corporation is not required to complete Schedules Land M-1 .. .. .. .. .. .. .. .............. X 

l Schedule K l Shareholders' Pro Rata Share Items Total amount 

1 Ordinary business income (loss) (page 1, line 21) ... . . . . . 1 122,329 

2 Net rental real estate income (loss) (attach Form 8825) .......... . 2 

I 3a Other gross rental income (loss) .................... ·1 3a / 

n b Expenses from other rental activities (attach statement) ./ 3b I , c e Other net rental income (loss). Subtract line 3b from line 3a . . 3c 0 

m 4 Interest income • • • • • • • • . . 4 

e 5 Dividends: a Ordinary dividends . . 5a 

(L b Qualified dividends ·1 5b 1 ! 0 6 Royalties· •••••••••• . . 6 

s 7 Net short-term capital gain (loss) (attach Schedule D (Form 1120S» 7 

s) 8a Net long-term capital gain (loss) (attach Schedule D (Form 1120S» . 8a 

b Collectibles (28%) gain (loss) ...................... • / 8b I 1'1 e Unrecaptured section 1250 gain (attach statement) ·1 8e I i 

9 Net section 1231 gain (loss) (attach Form 4797) . .. .. .. .. .. ...................... I 9 

10 Other income (loss) (see instructions) • • • Type~ 10 

EEA Form 1120S (2007) 
Form 1120S (2007) MARCECO LTD. 

DeducIions 

CrediIs 

F ore9> 

T ransadions 

ax(AMT) 

R eccncSlIion 

EEA 

11 

12a 

b 

c 

d 

13a 

b 

c 

d 

e 

f 

9 

14a 

b 

c 

d 

e 

f 

9 

h 

i 

J 

k 

I 

rn 

n 

15a 

b 

c 

d 

e 

f 

16a 

b 

c 

d 

e 

17a 

b 

c 

d 

18 

Shareholders' Pro Rata Share Items (continued) 

Section 179 deduction (attach Form 4562) 

Contributions 

Investment interest expense 

Section 59(e)(2) expenditures (1)Type~ (2)Amount ~ 

Other deductions (see instructions) • Type~ 

Low-income housing credit (section 420)(5» 

Low-income housing credit (other) 

Qualified rehabilitation expenditures (rental real estate) (attach Form 3468) 

Other rental real estate credits (see instructions) • Type ~ 

Other rental credits (see instructions) · Type ~ 

Credit for alcohol used as fuel (attach Form 6478) 

Other credits (see instructions) • Type ~ 

Name of country or U.S. possession ~ 

Gross income from all sources · Gross income sourced at shareholder level . Foreign gross income sourced at corporate level 

Passive category 

General category . Other (attach statement) 

Deductions allocated and apportioned at shareholder level 

Interest expense 

Other· . . Deductions allocated and apportioned at corporate level to foreign source income 

Passive category 

General category 

Other (attach statement) · . Other information - -- -- --

Total foreign taxes (check one): ~ Paid Accrued _ _ u_ 

Reduction in taxes available for credit (attach statement) 

Other foreign tax information (attach statement) 

Post-1986 depreciation adjustment 

Adjusted gain or loss 

Depletion (other than oil and gas) · . Oil, gas, and geothermal properties-gross income 

Oil, gas, and geothermal properties-deductions . Other AMT items (attach statement) · Tax-exempt interest income 

Other tax-exempt income . Nondeductible expenses 

Property distributions . Repayment of loans from shareholders 

Investment income 

Investment expenses 

Dividend distributions paid from accumulated eamings and profits 

Other items and amounts (attach statement) 

Income/loss reconciliation. Combine the amounts on lines 1 through 10 in the far right 

column. From the result, subtract the sum of the amounts on lines 11 through 12d and 141 

38-3488505 Page 3 

Total amount 

11 122 329 

12a 

12b 

12c(2) 

12d 

13a 

13b 

13c 

13d 

13e 

13t 

13g 

14b 

14c 

14d 

14e 

14f 

14g 

14h 

141 

14j 

14k f--:-. 

141 

14m ---

15a (2 350) 

15b 

15c 

15d 

15e 

1St 

16a 

16b 

16c 4 267 

16d 

16e 

17a 

17b 

17c 

..... > . .. 

18 0 

Form 11205 (2007) 
Form 1120S (2007) MARCECO, LTD. 38-3488505 Page 4 

I Schedule L I Balance Sheets per Books Beginning of tax year End of tax year 

Assets (a) (b) (c) (d) 

1 Cash ... .. .. .. .. .. .. . .. .. .. .. .. ~,706 49 112 

2a Trade notes and accounts receivable 537 593 

--::c-- ; 612 265 

b Less allowance for bad debts ( ) 537 593 ( ) 612 265 -- ----- 3 Inventories .................. 731 611 319 508 

4 U.S. govemment obligations 

5 Tax-exempt securities (see instructions) 

6 Other current assets (attach statement) 2 405 5 791 

7 Loans to shareholders ............ .. i t: 68 868 

8 Mortgage and real estate loans ........ I 68,723 I 149 206 

9 Other investments (attach statement) 

10 a Buildings and other depreciable assets 224,874 'r--' '" 333 268 

b Less accumulated depreciation ( 201 823) 2 ;h 0 5.1 ( 318 811) 14 457 

11 a Depletable assets ............ .', 

b Less accumulated depletion . • ( ) ( ) 

12 Land (net of any amortization) .... :.:. ',::. ":" 

13 a Intangible assets (amortizable only) 'r----------.- I 

b Less accumulated amortization t _________ ) ( ) -.-.- --

14 Other assets (attach statement) ! 

15 Total assets· • • • • • • . . • · . 1 367 0 89 1,219,207 

Liabilities and Shareholders· Equity ;:- , 

16 Accounts payable ...................... 834 364 I 600,149 

17 Mortgages, notes, bonds payable in less than 1 year 142,299 

I 

516,830 

18 Other current liabilities (attach statement) ~ATEMEN'U 22 307 819 

19 Loans from shareholders .. .... ........ 

20 Mortgages, notes, bonds payable in 1 year or more 18,781 

I 

28,734 

21 Other liabilities (attach statement) · 22 Capital stock ................ · . 78 331 78,331 

23 Additional paid-in capital ........ I 

24 Retained eamings ...... ........ (14 505 ) ! (4,837) 

25 Adjustments to shareholders' equity (attach statement) I 

26 Less cost of treasury stock .................. ! ( ) j( ) 

27 Total liabilities and shareholders' equity ... 1 367 089 ! 1,219,207 

f Schedule M=!l Reconciliation of Income (Loss) per Books With Income (Loss) per Return . . .. . Note: Schedule M-3 reqUired Instead of Schedule M-l If total assets are $10 mllion or more-see Instructions 

1 Net income (loss) per books .................. (4,2671 5 Income recorded on books this year not 

2 Income included on Schedule K, lines 1, 2, 3c, 4, included on Schedule K, lines 1 through 

5a, 6, 7, 8a, 9, and 10, not recorded on books 10 (itemize): 

this year (itemize): a Tax-exempt interest $ 

3 Expenses recorded on books this year not 6 Deductions included on Schedule K, lines 

included on Schedule K, lines 1 through 12 1 through 12 and 141 , not charged against 

and 141 (itemize): book income this year (itemize): 

a Depreciation $ a Depreciation $ 

b Travel and entertainment $ 4 1 267 

7 Add lines 5 and 6 .. .. .. .. .. .. .. .. .. .......... 

4 267 8 Income (loss) (Schedule K, line 18). 

4 Add lines 1 through 3 ........................ Line 4 less line 7 .. .......................... 0 

I Schec:lule M-21 Analysis of Accumulated Adjustments Account, Other Adjustments Account, and Shareholders' 

Undistributed Taxable Income Previous Iy Taxed see instructions 

(a) Accumulated (b) Other adjustments (c) Shareholders' undistributed 

adjustments account account taxable income previously taxed 

1 Balance at beginning of tax year .............. (14 505) 

2 Ordinary income from page 1, line 21 122,329 -- --r-' .......... , i ' 

3 Other additions ........ • STATEMENT 11 49. 18 882 . 4 Loss from page 1, line 21 ...................... ( ) ", 

5 Other reductions • • • • • STATEMENT 11 30. ( 131 543) ( )! 

6 Combine lines 1 through 5 .................. (4 837) 

7 Distributions other than dividend distributions 

8 Balance at end of tax year. Subtract ine 7 trom line 6 (4,837) 

EEA Form 1120S (2007) 
Schedule K-1 

(Form 11205) 2007 For calendar year 2007, or tax 

Department of the Treasury 

Intemal Revenue Service year beginning ______ ,2007 

and ending , 20 _ 

Shareholder's Share of Income, Deductions, 

C red its, etc. ~ See separaIe i1sfrudions.. 

i Part' I Information About the Corporation 

A Corporation's employer identification number 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO, LTD. 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center ",",ere corporation filed return 

CINCINNATI 

I part III Information About the Shareholder 

o Shareholder's identifying number 

E Shareholder's name, address, city, state, and ZIP code 

DAVE DENHERDER 

600 BROADWAY NW APT 332B 

GRAND RAPIDS MI 49504 

F 

F 

o 

r 

I 

R 

S 

U 

s 

e 

o 

n 

I 

y 

Shareholder's percentage of stock 

ownership for tax year •••• 20. 00000 % 

FlY F'aperMJfk ReducIion Ad NoIice, see Insirudians mr Form 11205. 

EEA 

1 

2 

3 

4 

Sa 

5b 

6 

7 

Sa 

8b 

8c 

9 

10 

671107 Final K-l Amended K-l OMS No 1545-0130 

I 

Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

Ordinary business income Ooss) 13 Credits 

24 466 Net rental real estate income Ooss) 

Other net rental income (loss) 

Interest income 

Ordinary dividends 

Qualified dividends 14 Foreign transactions 

I Royalties 

Net short-term capital gain Ooss) 

Net long-term capital gain (loss) 

CoRectibles (28%) gain Ooss) 

Unrecaptured section 1250 gain 

Net section 1231 gain (loss) 

Other income (loss) 1S AAernative minimum tax (AMT) [terns 

A (470) 

11 Section 179 deduction 16 Items affecting shareholder basis 

24 466 C 853 12 Other deductions 

17 Other information 

• See attached statement for additional information. 

ScI>edt*: K-1 (Fctm 11205) 2007 
Schedule K-1 

2007 (Form 11205) For calendar year 2007, or tax 

Department of the Treasury year beginning ,2007 Internal Revenue Service 

and ending ,20 --

Shareholder's Share of Income, Deductions, 

Credits, etc. .... See separaIe ftsIrudions.. 

I Part I I Information About the Corporation 

A Corporation's employer identification number 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO, LTD. 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Centerwnere corporation filed return 

CINCINNATI 

IPartU! Information About the Shareholder 

0 Shareholder's identifying number 

E Shareholder's name, address, dty, state, and ZIP code 

MARK DENHERDER 

736 FULTON ST NE APT 1 

GRAND RAPIDS MI 49503 

F Shareholder's percentage of stock 

ownership for tax year .. . . .. ............. 30.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

Ij~ 'I ~ 

, 0 

n , ,' . I , , 

Y il ~"'i \; , 

For PaperNorl< ReducIion M Notice, see h;irudions for Form 11205. 

EEA 

% 

671107 Final K-l Amended K-l OMS No 1545-0130 

I Part If. I Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 I Ordinary business income (loss) 13 Credits I 

I 36 699 2 Net rental real estate income (loss) 

I 3 Other net rental income (loss) 

I 

4 Interest income 

Sa Ordinary dividends 

5b Qualified dividends 14 Foreign transactions 

6 Royalties 

7 Net short-term capital gain (loss) 

Sa Net Ionlrterm capital gain (loss) 

8b Collectibles (28%) gain (loss) 

Be Unrecaptured section 1250 gain 

9 I Net section 1231 gain (loss) 

10 Other income (loss) 15 Alternative minimum tax (AMT) items 

A (705) 

11 I Section 179 deduction 16 Items affecting shareholder basis 

36,699 C 1,280 12 Other deductions 

17 Other information 

I • See attached statement for additional information, 

Sc:he<Ue K-1 (Fonn 11205) 2001 
Schedule K-1 

2007 (Form 11205) For calendar year 2007, or tax 

Department of the Treasury year beginning ,2007 Internal Revenue Service 

and ending ,20 -

Shareholder's Share of Income, Deductions, 

Credits, etc. .. See separate insInJdions. 

tPartl ! Information About the Corporation 

A Corporation's employer identification number 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO, LTD. 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center where corporation filed return 

CINCINNATI 

IPartil Information About the Shareholder 

0 Shareholder's identifying number 

E Shareholder's name, address, city, state, and ZlP code 

RUTH DENHERDER 

740 S FEDERAL ST APT 908 

CHICAGO IL 60605 

F Shareholder's percentage of slock 

OYmership for tax year .. .. .. .. .............. 30.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

1~I.t 0 '''~~ 'I n 'ri! ~. I , y "~'~I .' 

For Paplrwof!c Reruction Ad. Notice, see InsIrudions for Form 11205. 

EEA 

% 

671107 FinalK-1 Amended K-l OMS No 1545-0130 

IPartBli Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 Ordinary business income (loss) 13 Credits 

36 699 2 Net rental real estate income (loss) 

3 Other nel rental income Qoss) 

<4 Interest income 

Sa Ordinary dividends 

5b Qualified dividends 14 Foreign transactions 

6 Royalties 

1 Net short-term capital gain (loss) 

Sa I Net long-term capital gain (loss) 

I 8b Collectibles (28%) gain (loss) 

Be Unrecaptured section 1250 gain 

9 Net section 1231 gain (loss) 

10 Other income (loss) 15 Alternative minimum tax (AMT) Items 

A (705) 

11 I Section 179 deduction 16 Iterns affecting shareholder basis 

I 36 699 C 1,280 12 Other deductions 

17 Other information 

• See attached statement for additional information. 

ScheWIe K-1 (Form 11205) 2007 
Schedule K-1 

(Form 11205) 2007 For calendar year 2007, or tax 

Department of the Treasury year beginning ,2007 Intemal Revenue Sef'Jice 

and ending ,20 -

Shareholder's Share of Income, Deductions, 

Credits, etc. ~ See separaIe RlIrucIions. 

Ipirtll Information About the Corporation 

A Corporation's employer identification number 

38-3488505 

B Corporation's name, address, city, state, and ZIP code 

MARCECO, LTD. 

3542 ROGER B CHAFFEE SE 

GRAND RAPIDS MI 49548 

C IRS Center where corporation filed retut'n 

CINCINNATI 

I Part lil Information About the Shareholder 

0 Shareholder's identifying number 

E Shareholder's name, address, city, state, and ZIP code 

JAMAL AQEL 

10891 CHEYENNE TRAIL 

GRAND RAPIDS MI 49544 

F Shareholder's percentage of stock 

ownership for tax year . . . . ....... 20.00000 

F 

0 

r 

I 

R 

S 

U 

s 

e 

1- 0 

n 

I 

y 

F.,.. Paperworl< Redudian Ad. NoIice, see hsIructions ror Form 11208. 

EEA 

% 

671107 Final K-1 Amended K-1 OMB No 1545-0130 

I Part HI I Shareholder's Share of Current Year Income, 

Deductions, Credits, and Other Items 

1 I Ordinary busine; ~e ~~ss) 13 Credits 

2 I Net rental real estate income (loss) 

I 3 Other net rental income (loss) 

.( , Interest income 

I 

Sa I Ordinary dividends 

! 

5b Qualified dividends 14 Foreign transactions 

6 Royalties 

7 I Net short-term caprral gain (loss) 

Sa Net long-term capital gain (loss) 

8b Co8ectibles (28%) gain (loss) 

! Be Unrecaptured section 1250 gain 

9 Net section 1231 gain (loss) 

10 Other income (loss) lS Alternative minimum tax (AMT) 

rrems 

A (470 ) 

11 Section 179 deduction 16 Items affecting shareholder basis 

i 24 465 C 854 12 Other deductions 

17 Other information 

• See attached statement for additional information, 

Sd1eduIe K-1 (Form 112(8) 2007 
... 

27-Dec-10 5:10:21 PM Marceco Ltd Page: 1 

*** INCOME STATEMENT *** As of 30-Nov-10 

MONTH-TO-DATE QUARTER-TO-DATE YEAR-TO-DATE 

$ % Sales $ % Sales $ % Sales 

Gross Sales 

#Pin SaleS# - Use 41100 0.00 51.87 61.30 

Sales 6,747,579.63 96.8 13,778,809.55 97.0 69,593,986.35 96.6 

Total Gross Sales $ 6,747,579.63 96.8 $ 13,778,861.42 97.0 $ 69,594,047.65 96.6 

Interest Income 

Total Interest Income $ 0.00 $ 0.00 $ 0.00 

Other Income (Expense) 

Shipping Charged on Sales 238.75 459.00 2,678.36 

Consulting Income 0.00 0.00 0.00 

Installation/Programming Income 0.00 0.00 0.00 

Commission Income 222,599.10 3.2 431,677.19 3.0 2,457,137.16 3.4 

Terminal Income 10.00 80.00 447.89 

Returned Funds Charged 3,024.96 6,112.96 33,148.33 

Reimbursed Expenses Income 0.00 0.00 (265.28) 

Misc. Income 0.00 0.00 140.00 

Total Other Income (Expense) $ 225,872.81 3.2 $ 438,329.15 3.1 $ 2,493,286.46 3.5 

TOTAL REVENUE $ 6,973,452.44 100.0 $ 14,217,190.57 100.0 $ 72,087,334.11 100.0 

-- -- --
27-0ec-10 5:10:21PM Marceco Ltd Page: 2 

*** INCOME STATEMENT *** As of 30-Nov-1 0 

MONTH-TO-DATE QUARTER-TO-DATE YEAR-TO-DATE 

$ % Sales $ % Sales $ % Sales 

Cost of Goods Sold 

Cost of Goods Sold 6,490,207.09 93.1 13,297,186.49 93.6 66,994,353.01 93.0 

Total Cost of Goods Sold $ 6,490,207.09 93.1 $ 13,297,186.49 93.6 $ 66,994,353.01 93.0 

GROSS PROFIT $ 483,245.35 6.9 $ 920,004.08 6.5 $ 5,092,981.10 7.1 

-- -- --

Direct Operating Expense 

Business Tax Expense 0.00 50.00 6,685.00 

Bad Debt Expense 5,674.65 0.1 5,675.02 15,758.60 

Bank Charges Expense 3,451.88 6,904.98 34,887.10 

Commission Expense 102,608.82 1.5 206,000.70 1.4 1,184,376.01 1.6 

Freight on Purchases 3,403.83 9,242.33 0.1 54,429.57 0.1 

Auto Star Support Payments 0.00 0.00 0.00 

Processor Fee Expense 1,555.24 11,166.61 0.1 89,463.28 0.1 

Supplies - Shipping 1,518.33 2,634.74 10,553.71 

Shipping Expense 1,899.49 12,944.33 0.1 87,301.91 0.1 

Supplies - Technical 1,928.07 1,984.46 10,470.11 

Taxes (280.30) (236.95) 145,051.90 0.2 

Total Direct Operating Expense $ 121,760.01 1.7 $ 256,366.22 1.8 $ 1,638,977.19 2.3 

Indirect Operating Expense 

Depreciation Expense 0.00 0.00 109,339.18 0.2 

Property Tax 0.00 18,393.25 0.1 18,393.25 

#Telephone Expense - Land Line# - Use 0.00 70.62 70.62 

82365 

#Travel - Airfare# - Use 82384 0.00 0.00 20.00 

#Unallocated ExpenseS# - Use 82319 680.00 680.00 680.00 

Advertising & Marketing Expenses 1,563.65 2,298.29 (49,343.54) (0.1) 

Accounting 1,220.00 2,215.00 7,838.51 

Automotive Expense - Fuel 7,890.78 0.1 14,760.42 0.1 50,504.75 0.1 

Automotive Expense 1,044.57 5,970.55 10,525.84 

Regular Maintenance Expense 24,210.77 0.3 27,679.96 0.2 45,562.84 0.1 

Aeronautic Expense 2,250.91 2,250.91 12,358.71 

Training Expense 22.50 22.50 1,455.23 

Computer Expense 2,798.70 6,971.52 48,104.09 0.1 

Consulting Expense 6,373.31 0.1 13,452.15 0.1 83,136.72 0.1 

Contract Labor Expense 5,932.50 0.1 32,687.33 0.2 97,715.95 0.1 

Gift/Flower Expense 66.78 276.78 4,477.18 

Medical Expense 1,995.00 2,575.45 10,059.72 

Insurance Expense - Medical 368.72 368.72 7,978.72 

Insurance Expense - Liability 11,072.79 0.2 15,572.06 0.1 18,525.76 

Lease Expense 746.46 1,344.29 4,241.93 

Legal Expense 19,075.00 0.3 44,526.44 0.3 75,201.70 0.1 

Mileage Expense 24.00 24.00 283.56 

Miscellaneous Expense 1,039.11 1,381.19 3,443.48 

Postage Expense 446.72 555.35 2,716.29 

Telecommunication Services 6,809.42 0.1 13,328.85 0.1 57,846.64 0.1 
• -it 

27-Dec-10 5:10:21PM Marceco Ltd Page: 3 

*** INCOME STATEMENT *** As of 30-Nov-1 0 

MONTH-TO-DATE QUARTER-TO-DATE YEAR-TO-DATE 

$ % Sales $ % Sales $ % Sales 

Rent Expense 21,358.82 0.3 45,638.69 0.3 174,242.89 0.2 

Security Expense 3,238.71 3,525.99 7,620.35 

Supplies - Office 11,084.28 0.2 18,070.97 0.1 52,110.91 0.1 

Supplies - Office Furniture 0.00 0.00 3,676.13 

Staff Development Expense 6.99 345.31 7,637.77 

Travel Expense 3,931.96 0.1 7,189.63 0.1 42,788.88 0.1 

Travel - Meals & Entertainment 1,877.56 3,518.63 16,526.51 

Utilities Expense 2,885.71 4,552.81 24,866.75 

Inventory Shrinkage 0.00 0.00 2,727.38 

Lease Expense - Employee 138,260.38 2.0 251,851.10 1.8 1,196,357.28 1.7 

Total Indirect Operating Expense $ 278,276.10 4.0 $ 542,098.76 3.8 $ 2,149,691.98 3.0 

OPERATING INCOME (LOSS) $ 83,209.24 1.2 $ 121,539.10 0.9 $ 1,304,311.93 1.8 

-- -- --

Other Revenues and Expenses 

Discount (Taken) 0.00 0.00 0.00 

Discount Given 766.25 2,074.75 3,068.29 

Total Other Revenues and Expenses $ 766.25 $ 2,074.75 $ 3,068.29 

Interest Expense 

Interest Expense 0.00 0.00 13,472.55 

Total Interest Expense $ 0.00 $ 0.00 $ 13,472.55 

Gain/Loss on Asset Disposal 

Total Gain/Loss on Asset Disposal $ 0.00 $ 0.00 $ 0.00 

INCOME (LOSS) BEFORE TAXES $ 82,442.99 1.2 $ 119,464.35 0.8 $ 1,287,771.09 1.8 

-- -- -- Income Tax Expense 

Income Tax Expense 68.79 68.79 68.79 

Total Income Tax Expense $ 68.79 $ 68.79 $ 68.79 

TOTAL EXPENSES $ 6,891,078.24 98.9 $ 14,097,795.01 99.2 $ 70,799,631.81 98.3 

-- -- --

NET INCOME (LOSS) $ 82,374.20 1.2 $ 119,395.56 0.8 $ 1,287,702.30 1.8 

-- -- --
2/-Dec-1'0 5:13:21PM 

ASSETS 

Cash 

#Petty Cash - MN# 

PNC (4539) 

#Cash & Check Receipts - MN# - Use 

11130.10.200 

#MasterCard# 

Mercantile Business Account 

Temporary Banking 

Guaranty Bank 

TCF Bank (4131) 

U.S. Bank 

Petty Cash 

Mercantile Bank (4949) 

PNC Bank 

Wells Fargo -

Mercantile Payroll Account 

TCF Bank (4924) 

Cash and Check Receipts 

Cash on Hand 

Credit Card Receipts 

Total Cash 

Accounts Receivable 

Accounts Receivable - Trade 

Total Accounts Receivable 

Other Receivables 

Employee Advance Receivable 

Boost Co-op 

Notes Receivable - Kanan Mustafa 

Notes Receivable - Neal Young 

Notes Receivable - Bill Repovz 

Notes Receivable - Randy Miles 

Notes Receivable - Alejandro Mesa 

Notes Receivable - Frogtown Wireless 

Notes Receivable - Dennis Kaminski 

Notes Receivable - Kyle Powers 

Notes Receivable - Tony Singh 

Notes Receivable - Future Comm 

Notes Receivable - American Communications 

Notes Receivable - Casey Christofaris 

Notes Receivable - Marceco Detroit 

Notes Receivable - Marceco Milwaukee 

Notes Receivable - Tawfiq 

*** 

Marceco Ltd 

BALANCE SHEET 

(As of 30-Nov-1 0) 

372.50 

2,627.86 

(1,242.84) 

8,926.57 

400.00 

*** 

10,684.09 

149,990.51 

15,096.31 

45,579.73 

10,099.44 

4,095.00 

93.95 

(173,942.97) 

12,330.90 

10,172.00 

0.00 

28,501.20 

43,612.69 

10,423.59 

(10,994.34) 

0.00 

1,233,077.46 

400.00 

134,112.80 

0.00 

(12,313.71) 

0.00 

22.25 

0.00 

0.00 

0.00 

0.00 

0.00 

60.00 

27.60 

3,032.83 

0.00 

7,421.45 

0.00 

Page: 1 

155,742.10 

1,233,077.46 
27-Dec-1'O 5:13:21 PM 

Total Other Receivables 

Inventory 

Inventory 

Inventory Variance 

Total Inventory 

Other Current Assets 

Property Escrow 

Total Other Current Assets 

TOTAL CURRENT ASSETS 

Property, Plant & Equipment 

Office Furniture 

Tenminals 

Computer Equipment 

Phone Equipment 

Automobile 

Airplane 

Goodwill 

Leasehold Improvements 

Total Property, Plant & Equipment 

Accumulated Depreciation 

Accumulated Depreciation 

Total Accumulated Depreciation 

Other Assets 

Opening Balance 

Security Deposits 

Total Other Assets 

TOTAL ASSETS 

Marceco Ltd 

*** BALANCE SHEET *** 

(As of 30-Nov-10) 

Page: 2 

132,763.22 

0.00 

899,168.42 

(3,909.90) 

895,258.52 

2,000.00 

2,000.00 

2,418,841.30 

84,491.07 

549,344.67 

95,736.69 

21,944.00 

83,696.96 

828,177.50 

39,500.00 

103,887.15 

1,806,778.04 

(399,620.18) 

(399,620.18) 

91,253.26 

4,195.00 

95,448.26 

3,921,447.42 
2?-Dec-1"O 5:13:21PM Marceco Ltd Page: 3 

*** BALANCE SHEET *** 

(As of 30-Nov-10) 

LIABILITIES AND EQUITY 

Accounts Payable 

Accounts Payable 2,019,353.28 

Total Accounts Payable 2,019,353.28 

Notes Payable 

Mercantile Line of Credit 215,000.00 

215,000.00 

Notes Payable - Airplane 0.00 

Notes Payable - Accounting Software (300.40) 

Total Notes Payable 214,699.60 

Other Accrual of Payables 

0.00 

Accrued Payables (138,871.60) 

Accrued Freight 709.87 

Total Other Accrual of Payables (138,161.73) 

Other Current Liabilities 

Workers Compensation Payable (486.00) 

(486.00) 

Notes Payable - Computer Lease 6,269.70 

American Express 59,583.58 

MasterCard - MBNA World Points 0.00 

MasterCard - Chase (129.00) 

Discover (44.00) 

State Income Tax Payable 3,139.59 

FICA Payable (2,879.82) 

FUTA Payable 277.91 

SUTA Payable 2,280.33 

Employees' Local Tax Payable 599.59 

Local Sales Tax Payable 3,172.25 

Michigan State Sales Tax Payable (3,610.28) 

Minnesota State Sales Tax Payable 3,094.99 

Wisconsin State Sales Tax Payable 2,892.22 

Visa - National City 0.00 

Mastercard - Frontier 12,953.86 

Visa - Bank of America 1,031.72 

Mastercard - Citibank 43.41 

Visa - Capital One 4,840.75 

American Express - Detta 288.57 

Total Other Current Liabilities 93,319.37 

Long Term Debt 

Notes Payable - TIm Schuler 500.00 

500.00 
21-0ec-10 5:13:21PM 

Notes Payable - Automobile 

Notes Payable - Equipment Lease 

Notes Payable - Phone System Lease 

Notes Payable - Touch Tone Wireless 

Total Long Term Debt 

TOTAL LIABILITIES 

Equity 

00 - Dave 

00 - Mark 

00 - Ruth 

00- Jamal 

Common Stock Issued 

Retained Earnings 

Current Earnings 

Total Equity 

TOTAL LIABILITIES AND EQUITY 

*** 

Marceco Ltd 

BALANCE SHEET *** 

(As of 30-Nov-10) 

(393.90) 

(423.95) 

(4,357.35) 

824.47 

(357,215.85) 

(205,060.39) 

(196,113.76) 

(310,574.42) 

78,331.00 

1,439,018.75 

1,287,702.30 

Page: 4 

(3,850.73) 

2,185,359.79 

1,736,087.63 

3,921,447.42 
Attachment G 
I ncome Projections 

Round Trip Hourly Rate One Way Hourly Rate Dead Hourly Rate Pilot Wait Time Total 

Flight Hours $350.00 Flights $600.00 Heads $99.00 $50.00 Income 

January 12 $4,200.00 8 $4,800.00 3 $297.00 $1,200.00 $10,497.00 

February 12 $4,200.00 8 $4,800.00 3 $297.00 $1,200.00 $10,497.00 

March 12 $4,200.00 8 $4,800.00 3 $297.00 $1,200.00 $10,497.00 April 12 $4,200.00 8 $4,800.00 3 $297.00 $1,200.00 $10,497.00 May 12 $4,200.00 8 $4,800.00 3 $297.00 $1,200.00 $10,497.00 June 12 $4,200.00 12 $7,200.00 3 $297.00 $1,200.00 $12,897.00 July 12 $4,200.00 12 $7,200.00 3 $297.00 $1,200.00 $12,897.00 August 12 $4,200.00 12 $7,200.00 3 $297.00 $1,200.00 $12,897.00 September 12 $4,200.00 8 $4,800.00 3 $297.00 $1,200.00 $10,497.00 October 12 $4,200.00 8 $4,800.00 3 $297.00 $1,200.00 $10,497.00 November 12 $4,200.00 8 $4,800.00 3 $297.00 $1,200.00 $10,497.00 December 12 $4,200.00 8 $4,800.00 3 $297.00 $1,200.00 $10,497.00 

$133,164.00 

Notes: 

1) The applicant projects a slight increase in one way flights during the summer months due to leisure travel demand 

2) This is a single entity company 

3) The proposed geographic area is the Lower 48 Continental States 
Expense Projections 

Total Flight Hourly Cost Pilot Indirect Total Monthly Profit From 

Hours $150.00 Expense Expense Operating Cost Operations (4) 

January 28 $4,200.00 $1,600.00 $200.00 $6,000.00 $4,497.00 

February 28 $4,200.00 $1,600.00 $200.00 $6,000.00 $4,497.00 

March 28 $4,200.00 $1,600.00 $200.00 $6,000.00 $4,497.00 

April 28 $4,200.00 $1,600.00 $200.00 $6,000.00 $4,497.00 

May 28 $4,200.00 $1,600.00 $200.00 $6,000.00 $4,497.00 

June 32 $4,800.00 $1,600.00 $200.00 $6,600.00 $6,297.00 

July 32 $4,800.00 $1,600.00 $200.00 $6,600.00 $6,297.00 

August 32 $4,800.00 $1,600.00 $200.00 $6,600.00 $6,297.00 

September 28 $4,200.00 $1,600.00 $200.00 $6,000.00 $4,497.00 

October 28 $4,200.00 $1,600.00 $200.00 $6,000.00 $4,497.00 

November 28 $4,200.00 $1,600.00 $200.00 $6,000.00 $4,497.00 

December 28 $4,200.00 $1,600.00 $200.00 $6,000.00 $4,497.00 

$73,800.00 $59,364.00 

Notes: 

1) The applicant projects that the pilot will be devoting approximately half of his time to 

the charter services. 

2) Indirect expenses are an approximation of the additional time from applicants existing 

employees that will be used to run the charter services 

3) The increased expenses during the summer months reflects additional seasonal 

demand for leisure charters 

4) See income projections to calculate Profit From Operations