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ILLINOIS VALLEY CELLULAR RSA 2-III PARTNERSHIP
STATEMENTS OF INCOME
Years Ended December 31, 2002, 2001, and 2000 
  
2002
 
2001
 
2000
 
OPERATING REVENUES                    
 Retail service  $3,469,059 $3,227,973 $3,047,399 
 Roamer service     2,521,150    3,344,344    2,573,368 
 Equipment sales     101,694    111,163    85,863 
 Miscellaneous services     788,808    637,263    442,516 
         
      6,880,711    7,320,743    6,149,146 
         
OPERATING EXPENSES                    
 Cost of sales     3,628,394    3,563,141    2,817,688 
 Cost of equipment sales     578,473    570,489    555,587 
 Selling, general, and administrative     2,280,964    2,080,607    1,758,277 
 Depreciation     580,137    493,940    489,717 
         
      7,067,968    6,708,177    5,621,269 
         
OPERATING INCOME     (187,257) 612,566    527,877 
         
OTHER INCOME (EXPENSES)                    
 Interest expense     (52,682) (56,560) (103,842)
 Interest during construction     20,308    —    — 
 Other, net     8,041    14,352    13,129 
         
      (24,333) (42,208) (90,713)
         
NET INCOME  $(211,590)$570,358 $437,164 
         
The accompanying notes are an integral part of these financial statements.