RS

[oe

Consolidated Statement

of Operations and Retained Earnings
for the years ended December 31, 1976 and 1975

OPERATIONS 1976 i SYAs
Revenue:
ASDESTOS TIDNESalGS, pesca eter are serene rea tC ot eee $78,285,544 $79,491,557
OthersaleSw rcqawp et sear ae ee ey eae eee re 1,492,777 3,028,730
IO MTM1S 32ers O21 520287,
Expenses:
CostiOheSaleSe nk sre: zyte hse eee ts ee ea ee 45,188,114 46,475,686
liranspontation ancawarehoUSinGes ier eres ae 11,581,652 11,983,151
Administration, selling and general............. 00. c cece cece e cece eee 4,389,912 4,430,798
Explotartl ome(IN OEE RIT )S eo este ore tee rem meets 0 et ee 279,491 287,245
Interest OnibornrowimgSe(INOteeZ) eet eee ee yee 1,343,732 1,555,571
62,782,901 64,732,451
INCOME! DEORE IMCOMMe uta CSae eee wee ere ree ae 16,995,420 17,787,836
Taxes (Note 1):
SOUS ln agar elade en Ls cha 1A) Weenie eee et Pid As I asoeae oT aes 4 1,791,864 5,681,000
BY oy dsl Ghee cer certs ryt arent car oes en Pn nee cer epee ta eecr et UA cred ete i 3,364,000 3,817,000
5,155,864 9,498,000
Netimcome: forthe Veale ee ee $11,839,556 $ 8,289,836
NGEINCOME| Der Sia hes’ clase cere cece ce ete he yen UN ee Pan $2.15 $1.51
RETAINED EARNINGS
Balanceratsbeginminguotsyeale rec iraas sce) a tisic eee Sree $25,001,751 $16,711,915
NEtHINCOMMeSTOn they Calpe weq eye eho ee eter ine 11,839,556 8,289,836
Balanceratiemc tote yea tesa c.etccerta cass ena een ee arg $36,841,307 $25,001,751

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