OPERATING REVENUES: For Me Year Ended December 31, Change % Change 2014 2013 Fixed rent $ 546,638 S 700,499 $ (153,861) (21.96)% Same-property portfolio 423,203 681,981 (258,778) (37.95)% Participating rent 3,476,103 2,071,153 1,404,945 67.83% Same-property portfolio 2824,759 2,071,158 753,601 36.39% Recovery of expenses 201,469 197,309 4,160 2.11% Same-pmperty portfolio 194570 197,309 1,261 0.64% Other income 10 10 ibtal operating revenues 4,224,220 2,968,966 1,255,254 42.28% Same property portfolio 4444532 2,950,448 494084 16.81% OPERATING EXPENSES: Depreciation 1,217,095 1,053,829 163,266 15.49% Same-property portfolio 965,530 1,033,779 (68,249) (6.60)% Property operating expenses 457,886 429,373 28,513 6.64% Same-property portfolio 355,114 414943 (61,829) (14.83)% Acquisition-related expenses 220 187,872 (187,652) (99.88)% Professional fees 14,182 3,039 11,143 366.67% ibtal operating expenses 1,689,383 1,674,113 15,270 0.91% OPERATING INCOME $2,534,837 $1,294,853 $1,239,984 95.76% Total Operating Revenues Total operating revenues for our permanent crop segment increased $1,255,254, or 42.28%, from $2,968,966 for the year ended December 31, 2013 to $4,224,220 for the year ended December 31, 2014, which increase was primarily due to an increase in participating rent offset by a decline in fixed rents, as more fully described below. 'final operating revenues for our same-property permanent crop portfolio increased $496,084, or 16.81%, from $2,950,448 for the year ended December 31, 2013 to $3,446,532 for the year ended December 31, 2014, also due to the increase in participating rent offsetting lower fixed rents. Fixed rent for our permanent crop segment decreased $153,861, or 21.96%, from $700,499 for the year ended December 31, 2013 to $546,638 for the year ended December 31, 2014. Our Quail Run Vineyard property produced $339.029 less fixed rent in