Lakeshore Company									7:00 PM
Profit & Loss									01/30/2007
									Cash Basis
					Jan - Dec 04	Jan - Dec 05	Jan - Dec 06	Jan - Dec 07	Jan - Dec 08
	Ordinary Income/Expense
		Income
			Assessments
				Early Payment		50.00
				Late Payment		554.00
				Assessments - Other	96,546.13	92,067.50	94,193.29	94,520.00	94,520.00
			Total Assessments		96,546.13	92,671.50	94,193.29	94,520.00	94,520.00
			From Association for Loan		4,723.53			24,000.00	24,000.00
			Interest Income		346.60	393.94	2,922.18	7,500.00	5,000.00
			Other		124.30
		Total Income			101,740.56	93,065.44	97,115.47	126,020.00	123,520.00
		Expense
			Administrative Expenses		1,360.05	1,158.33	2,769.40	2,500.00	2,500.00
			Bank Service Charges				60.00
			Dam + Dredge Construction		75.00	15,584.67
			Insurance		7,885.28	9,170.19	9,722.89	13,000.00	13,000.00
			Interest Expense				0.00	13,700.00	13,700.00
			Interest Expense - One Time				0.00	10,000.00
			Professional Fees
				Accounting		450.00	475.00	500.00	500.00
				Admin	3,359.77		0.00
				Engineering	45,794.20	16,256.13	0.00
				Legal Fees			331.20
				Professional Fees - Other			0.00	14,500.00
			Total Professional Fees		49,153.97	16,706.13	806.20	15,000.00	500.00
			Tax - Property		30,690.47	32,159.97	32,640.64	35,000.00	35,000.00
			Water Operations
				Repair & Maintenance	14,641.85	3,932.00	3,867.27	8,000.00	4,000.00
				Utilities	3,952.14	4,529.41	3,647.40	6,000.00	6,000.00
				Water Quality (AGRA)	10,428.50	12,788.23	15,320.74	16,000.00	16,000.00
				Water Operations - Other			955.38	1,000.00	1,000.00
			Total Water Operations		29,022.49	21,249.64	23,790.79	31,000.00	27,000.00
		Total Expense			118,187.26	96,028.93	69,789.92	120,200.00	91,700.00
	Net Ordinary Income				-16,446.70	-2,963.49	27,325.55	5,820.00	31,820.00
	Other Income/Expense
		Other Expense
			Depreciation				19,500.00	26,000.00	26,000.00
			Fund Water Improvements Reserve				0.00	35,000.00
			Tax - Income		18,214.60	-6,320.00	-3,160.00
			To Association				0.00	44,593.26
		Total Other Expense			18,214.60	-6,320.00	16,340.00	105,593.26	26,000.00
	Net Other Income				-18,214.60	6,320.00	-16,340.00	-105,593.26	-26,000.00
Net Income					-34,661.30	3,356.51	10,985.55	-99,773.26	5,820.00