1. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007

2. Revenue:

3. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold

4. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold$24,000

5. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold$24,000 Expenses:

6. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold$24,000 Expenses: Rent

7. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold$24,000 Expenses: Rent$5,000

8. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold$24,000 Expenses: Rent$5,000 Supplies Used 1,200

9. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold$24,000 Expenses: Rent$5,000 Supplies Used 1,200 Salaries 8,000

10. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold$24,000 Expenses: Rent$5,000 Supplies Used 1,200 Salaries 8,000 Total Expenses 14,200

11. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold$24,000 Expenses: Rent$5,000 Supplies Used 1,200 Salaries 8,000 Total Expenses 14,200 Net Income

12. Glorian Portrait Studios, Incorporated Statement of Income For the Month Ended May 31, 2007 Revenue: Fees Earned From Portraits Sold$24,000 Expenses: Rent$5,000 Supplies Used 1,200 Salaries 8,000 Total Expenses 14,200 Net Income$ 9,800