Cassiar Asbestos Corporation Limited

and its subsidiary

STATEMENTS OF CONSOLIDATED OPERATIONS AND EARNED SURPLUS

For the year ended December 31, 1966
(with comparative figures for the year 1965)

OPERATIONS
Revenue: 1966
IPO CAS OF AIOGHIOS WS . co so sccccucacsucvcevcuce $20,393,363
TEVROVON TONES. on acs ea cous oseeee eee eae 255,863
20,649,226
Expenses:
Cost of production of fibre sold (note 2) ................ 8,776,507
Transportation to Vancouver and warehousing (note 2) .... 3,834,530
Administration, selling and general expenses ....... Bae Saat 875,865
Remuneration of directors, including those holding salaried
CM PlOVIMENE reer sere we ac ete wera wee ee es 70,413
Exploration and research expenses ..................... 211,804
Interestronypuichaseicontrac tari == nee 15,750
Interest and charges on bank loans .................... 78,591
13,863,460
6,785,766
Provision for income taxes payable for current year ........... 765,000
6,020,766

Portion of earnings deferred equivalent to the reduction in taxes
payable for the current year arising from claiming for tax
purposes the maximum capital cost allowance, stripping costs
and exploration and development expenditures permitted by
the Income Tax Act which are in excess of the amounts
charged above and which will apply to those future years
where the amounts permitted for tax purposes will be less
than the amounts recorded in the accounts .............. 1,875,000

INGE JOROMUE SHOP TINS YOR . occ co coos vance cccancguccuvnscece $ 4,145,766

Balanceratbe cinnin yo fay Calas $10,080,839
INGE [OMRON WOE UNS SEB wb ooo ov sce oesaoaucsvosoaanancsece 4,145,766

14,226,605
Dividends totalling 60¢ per share .......................... 2,865,000
BIBINGS le GnGl OF WEP . sca ncauccoccconvccncccsocuacsene $11,361,605

PAGE EIGHT

1965

$17,526,197
D2 Apoies)

17,753,512

T1389 922
3,485,009
807,919

67,967
139,908
20,250
24,265

11,685,040
6,068,472
1,310,000
4,758,472

1,070,000
$ 3,688,472

$ 9,141,117
3,688,472

12,829,589

2,748,750

$10,080,839