Cassiar Asbestos Corporation Limited

STATEMENTS OF OPERATIONS AND EARNED SURPLUS
For the Year Ended December 31, 1963

STATEMENT OF OPERATIONS

PLONTOM A OPCLAt OMSn Meee cits Ce eee ne oa ieee eg § C7057
IMCOMeSirOMPIMVES TIN CItG eter errr emer ten lh) ea cteat a. irc) oe ees ae 6,667
$ 6,762,378
Deduct:
Remuneration of executive officers ..................... $ 35,917
IDITEGEOTSi SECS ate tee a anes eee ee ER ace car ‘nee 13,500
ROS AE CO German csueette ear ce tle er eae mr Un MOA eRe fee pete 30,952, 80,369
Poi, EKO Ceclaoiing (ae wollen CAAA. scc0cccaasegscdcscussa0cs $ 6,682,009
IDjoetO AO alten om snes eae ea AO Es SAU ee Oe eee OO ene $1,054,740
ANTOONINIZATIONN Ot Gieoyoiias COM 6 55bcs5acedacccescoccac 1,271,044
Amortization of preproduction expenditures ............. 58,876
Outside exploration expenditures written-off ........... ee 97,941
Provision for income taxes payable for current year ........ 950,000 3,432,201

$ 3,249,808

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 and stripping costs permitted by the Income Tax
Act which are in excess of the amounts charged above and which will
apply to those future years when the amounts permitted for tax purposes
will be Jess than the amounts recorded in the accounts ................ 660,000

INGtsplont tOrsue \cats wr pruners mua rays Seach erent pee eee err et ies ch $ 2,589,808

STATEMENT OF EARNED SURPLUS

TOR raVeXS |DYeTehoal ofere Sills IC Lo pha eee ae Balas ar ree Ue denon eeenene es ho em oe we neatrear $ 8,274,847
INGhpronet(as Above) ms Sens he ee ee en ee 2,589,808

$10,864,655
Deduct toumdividends totallimeyGO¢ pers tate tees are) ete lee 2,376,000
Byles Decale Gil, UNE .cccagcccscnsedaocec rt oooape Pes sepeia een. . $_ 8,488,655

Pace E1cut