IN THE UNITED STATES BANKRUPTCY COURT

 FOR THE NORTHERN DISTRICT OF TEXAS

 DALLAS DIVISION

IN RE: §

FREDRICK LEE PRESS PLUMBING, LLC §

DEBTOR § BANKRUPTCY CASE NO. 23-32662

STATEMENT OF OPERATIONS

Case 23-32662-mvl11 Doc 5 Filed 11/14/23 Entered 11/14/23 13:51:40 Desc Main

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Fred's Plumbing

Profit and Loss

January 1 - November 9, 2023

TOTAL

JAN 1 - NOV 9, 2023 JAN 1 - NOV 9, 2022 (PP) CHANGE % CHANGE

Income

4060 Construction

Equipment Rental 52,745.67 42,275.92 10,469.75 24.77 %

Plumbing Services 2,633,006.37 2,478,442.61 154,563.76 6.24 %

Total 4060 Construction 2,685,752.04 2,520,718.53 165,033.51 6.55 %

4100 Sales 343,886.59 351,006.26 -7,119.67 -2.03 %

4999 Uncategorized Income 358.59 210.39 148.20 70.44 %

Discounts given -242,296.37 -25,615.25 -216,681.12 -845.91 %

Interest Income 13.07 21.45 -8.38 -39.07 %

Legal Fees 45.00 -1,824.30 1,869.30 102.47 %

Refund -252.89 252.89 100.00 %

Sales of Product Income 9,003.79 15,256.36 -6,252.57 -40.98 %

Services 993,396.66 819,022.69 174,373.97 21.29 %

Shipping Income 20.00 20.00

Unapplied Cash Payment Income 108,941.49 33,889.83 75,051.66 221.46 %

Total Income $3,899,120.86 $3,712,433.07 $186,687.79 5.03 %

Cost of Goods Sold

5000 Cost of Goods Sold 1,411.84 69,300.65 -67,888.81 -97.96 %

Plumbing Materials -5.00 -15.00 10.00 66.67 %

Plumbing Supplies 527,598.21 568,112.96 -40,514.75 -7.13 %

Total 5000 Cost of Goods Sold 529,005.05 637,398.61 -108,393.56 -17.01 %

Backflow 935.00 13,231.59 -12,296.59 -92.93 %

Concrete Services 1,000.00 1,000.00

Total Cost of Goods Sold $530,940.05 $650,630.20 $ -119,690.15 -18.40 %

GROSS PROFIT $3,368,180.81 $3,061,802.87 $306,377.94 10.01 %

Expenses

2022 Mercedes-Benz S580 lease -4,770.89 15,784.56 -20,555.45 -130.23 %

5891559 Lincoln Navigator 7290 9,517.92 23,389.66 -13,871.74 -59.31 %

5891609 Lincon Navigator 08555 11,456.06 20,424.89 -8,968.83 -43.91 %

6110 Automobile Expense 2,463.20 19,496.56 -17,033.36 -87.37 %

6347 Fuel -282,316.27 -239,949.87 -42,366.40 -17.66 %

Gas 108,451.57 126,125.25 -17,673.68 -14.01 %

Maintenance 12,511.80 52,449.78 -39,937.98 -76.15 %

NTTA - Tolltags 25,084.66 28,934.12 -3,849.46 -13.30 %

Registration 122.50 122.50

Total 6110 Automobile Expense -133,682.54 -12,944.16 -120,738.38 -932.76 %

6120 Bank Service Charges 20,298.33 14,242.19 6,056.14 42.52 %

6140 Contributions

Donations 300.00 300.00

Total 6140 Contributions 300.00 300.00

6160 Dues and Subscriptions 19,311.48 19,889.93 -578.45 -2.91 %

6170 Equipment Rental 592.74 3,996.34 -3,403.60 -85.17 %

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TOTAL

JAN 1 - NOV 9, 2023 JAN 1 - NOV 9, 2022 (PP) CHANGE % CHANGE

6180 Insurance

6420 Work Comp 14,380.00 8,375.83 6,004.17 71.68 %

Auto 1,377.80 5,699.98 -4,322.18 -75.83 %

Bond 471.00 471.00

Commercial Umbrella 120,405.87 79,524.64 40,881.23 51.41 %

Employee Insurance 142,766.96 128,383.62 14,383.34 11.20 %

Insurance Recurring Fee 10,386.75 7,108.24 3,278.51 46.12 %

Recurring Fee 119.00 119.00

Total 6180 Insurance 289,907.38 229,092.31 60,815.07 26.55 %

6200 Interest Expense 29.38 420.08 -390.70 -93.01 %

6210 Finance Charge 823.36 -823.36 -100.00 %

Total 6200 Interest Expense 29.38 1,243.44 -1,214.06 -97.64 %

6230 Licenses and Permits -25,836.49 -20,495.05 -5,341.44 -26.06 %

6250 Postage and Delivery 141.48 527.92 -386.44 -73.20 %

6270 Professional Fees 19,552.50 15,760.65 3,791.85 24.06 %

6290 Rent of office space 36,000.00 72,000.00 -36,000.00 -50.00 %

6300 Repairs

Maintenance - Hydrojet 4,117.70 4,577.07 -459.37 -10.04 %

Total 6300 Repairs 4,117.70 4,577.07 -459.37 -10.04 %

6340 Telephone 24,566.31 36,113.82 -11,547.51 -31.98 %

6350 Travel & Ent 5,340.00 9,468.18 -4,128.18 -43.60 %

6360 Entertainment 17,876.12 5,582.80 12,293.32 220.20 %

6380 Travel 42.10 -154.50 196.60 127.25 %

Total 6350 Travel & Ent 23,258.22 14,896.48 8,361.74 56.13 %

6490 Landscaping 2,965.00 24,061.34 -21,096.34 -87.68 %

Landscape replacement apt comm 4,275.00 4,275.00

Total 6490 Landscaping 7,240.00 24,061.34 -16,821.34 -69.91 %

6550 Office Supplies 1,193.28 1,915.63 -722.35 -37.71 %

6560 Payroll Expenses 7,905.13 -7,905.13 -100.00 %

Wages 1,982,863.26 2,029,434.54 -46,571.28 -2.29 %

Total 6560 Payroll Expenses 1,982,863.26 2,037,339.67 -54,476.41 -2.67 %

66900 Reconciliation Discrepancies -0.14 0.14 100.00 %

6745 Sanitation 113.60 113.60

6820 Taxes 113,607.68 115,683.21 -2,075.53 -1.79 %

6850 Property 7,668.56 12,676.36 -5,007.80 -39.51 %

Franchise 11,949.00 7,243.00 4,706.00 64.97 %

Total 6820 Taxes 133,225.24 135,602.57 -2,377.33 -1.75 %

Advertising 5,050.27 31,262.09 -26,211.82 -83.85 %

Bank Charges 20,697.15 16,709.69 3,987.46 23.86 %

Business Expense

Security System Monitoring 255.64 260.99 -5.35 -2.05 %

Total Business Expense 255.64 260.99 -5.35 -2.05 %

Charitable Contributions 981.69 981.69

Continuing Education 3,179.85 1,055.00 2,124.85 201.41 %

Contract Labor 4,095.00 14,014.79 -9,919.79 -70.78 %

Damage of Property -7,030.69 1,677.40 -8,708.09 -519.14 %

Discount 1,019.69 574.62 445.07 77.45 %

Income Tax Penalty 308.00 -308.00 -100.00 %

Case 23-32662-mvl11 Doc 5 Filed 11/14/23 Entered 11/14/23 13:51:40 Desc Main

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TOTAL

JAN 1 - NOV 9, 2023 JAN 1 - NOV 9, 2022 (PP) CHANGE % CHANGE

Maintenance 36,556.33 36,556.33

Medical 88.42 88.42

Miscellaneous 18,618.85 5,775.05 12,843.80 222.40 %

Office Conversion 300.00 -300.00 -100.00 %

Permits 11,464.21 876.14 10,588.07 1,208.49 %

PEST CONTROL 5,131.07 4,053.98 1,077.09 26.57 %

QuickBooks Payments Fees 4,703.97 2,840.93 1,863.04 65.58 %

Reimbursement 7,972.69 7,972.69

Returned deposit item 5,304.95 -0.05 5,305.00 10,610,000.00 %

Security System 2,235.71 2,431.63 -195.92 -8.06 %

Stamps 12.60 12.60

T T A TOLL TAG 11.00 4.00 7.00 175.00 %

Towing 340.00 340.00

Unapplied Cash Bill Payment Expense -13,231.59 13,231.59 100.00 %

Uncategorized Expense 984.90 369.00 615.90 166.91 %

UNIFORMS 7,154.74 15,529.39 -8,374.65 -53.93 %

Utilities 10,968.62 9,661.97 1,306.65 13.52 %

Total Expenses $2,559,191.62 $2,731,892.15 $ -172,700.53 -6.32 %

NET OPERATING INCOME $808,989.19 $329,910.72 $479,078.47 145.21 %

Other Income

Credit/Refund 25.36 25.36

Total Other Income $25.36 $0.00 $25.36 0.00%

Other Expenses

Dividend Paid 5,423.00 -5,423.00 -100.00 %

Reconciliation Discrepancies-1 2.90 -11.42 14.32 125.39 %

Total Other Expenses $2.90 $5,411.58 $ -5,408.68 -99.95 %

NET OTHER INCOME $22.46 $ -5,411.58 $5,434.04 100.42 %

NET INCOME $809,011.65 $324,499.14 $484,512.51 149.31 %

Case 23-32662-mvl11 Doc 5 Filed 11/14/23 Entered 11/14/23 13:51:40 Desc Main

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