Cassiar Asbestos Corporation Limited

and its subsidiaries

STATEMENTS OF CONSOLIDATED OPERATIONS AND RETAINED EARNINGS

For the Year Ended December 31, 1973

OPERATIONS

Revenue: 1973
PNSbestospuibressalesw eee tort tre ey ees $49,611,809
ESTs ALES eae args eG ar ee ere pons eee 634,659
IIA VES EET TUES sieht sar eared nea RG area eg og ee rer 3,048

Gainkonusalesotassets hw ar ores aera eee reese —
50,249,516
Expenses: Se
Cost of sales (notes 1 and 2) ......... Son aE NS 31,428,905
Transportation to Vancouver and warehousing (note 1) ... 10,363,519
Administration, selling and general expenses ............ 2,791,533
Exploration and research expenses (note 2) ............ 179,674
Interest. ongborrowinos™(DOteeS) ase ete es 857,411

Mossprealizeduonsinvestmentsae asec ae ees —
45,621,042
4,628,474

Minority interest in loss of subsidiary .............-....-.-- —
IRrotitaberoresincomes takes. ee ee 4,628,474

Income taxes (note 4):
(GULTET beet ese ee eg eee tee te tee eee eee 125,000
Deferred teeter epee a oan ee oad ee eee 1,455,000
1,580,000
INC i profits Omtheny Calerse ieee ease oe $ 3,048,474
JEEVES JOSE GIRS . oo ccabaeceneousnecgescesauenadn ene 55.4¢
RETAINED EARNINGS

Balance at beginning of year ...............--+++++-+-5-- $21,019,221
INeteprofittotthesyeaie eh ta ee. 3,048,474
24,067,695
IDY Rava sata kf: pine sssere eee ay a Ges sata See ets Ona ele ere oR ear 3,300,000
Balancesatendsotay Caley rene erica ey tye $20,767,695

PAGE ELEVEN

1972
$45,034,633
393,060
29,869
7,058
45,464,620

25,487,616
9,354,631
2,388,604

263,458
654,241
127,091

38,275,641

7,188,979
9,179
"7,198,158

200,000
2,675,000
2,875,000

$ 4,323,158
78.6¢

$20,546,063
4,323,158
~ 24,869,221
3,850,000
$21,019,221