Liabilities

Current liabilities:
Bank indebtedness (Note 2) $ 6,901,718 $ 5,188,406
Accounts payable and accrued liabilities 5,842,736 10,240,031
| Taxes payable — 8,380,187
| Dividends payable 1,375,000 1,375,000
| 14,119,454 25,183,624
| Taxes deferred 29,464,000 25,664,000
Shareholders’ Equity:
Share capital:
Authorized —
5,500,000 shares without nominal
or par value
Issued —
5,500,000 shares 28,903,473 28,903,473
Retained earnings 62,182,456 53,382,252

91,085,929 62,285,720

Approved by the Board:

J. Douglas Little, Director

eee _ aonme ele
H.E. McArthur, Director

$134,669,383 —_ $133,133,349