<PAGE> Exhibit B
NEES ENERGY, INC.
Consolidated Statement of Income and Accumulated Deficit
(Thousands of Dollars)
For the Periods Ended March 31, 2000
(Unaudited, Subject to Adjustment)
<TABLE>
<CAPTION>
Twelve
QuarterMonths
--------------
INCOME
<S> <C> <C>
Revenue (1) $188,588 $530,017
-------- --------
Total income 188,588 530,017
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EXPENSES
Operating expenses
Cost of sales 171,403 475,717
Depreciation 2,650 10,802
Selling, general and administrative
expenses 15,164 57,819
Income tax 18 (4,971)
-------- --------
Total operating expenses 189,235 539,367
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Operating income (loss) (647) (9,350)
Other income (expense), net 482 1,100
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Net income (loss) (165) (8,250)
Accumulated deficit at beginning of period (30,423) (22,338)
Fair value purchase accounting adjustment 30,562 30,562
-------- --------
Accumulated deficit at end of period $ (26) $ (26)
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(1) Represents revenue of subsidiary (AllEnergy Marketing Co., L.L.C.)
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