Follow the same procedure with the income statement. Know what makes up the income line, the cost of sales accounts, occupancy cost and administrative costs. Pay particular attention to all the different payroll costs; compare them to the year before by person (if practical) and in total. Review each expense line, compare it to the prior year and, if necessary, call and get a quote for the current year. Cut what you can as soon as you can.
Another tip is to meet with your primary equipment rental house to get fixed rates for 2012. What they will expect in return is loyalty (first call) and communication, and that you follow reservation and call-off procedures and make payments according to what you work out.
It is your business and you have to control it. The best business operators I know take an active interest in the billing, collecting and bill payment.