Cassiar Asbestos Corporation Limited

STATEMENTS OF OPERATIONS AND EARNED SURPLUS

For the year ended December 31, 1962

STATEMENT OF OPERATIONS

Profit on operations .....
Income from investments

Deduct:
Remuneration of executive officers 43 all. dense: ee Pete eee 315600
DIKECLOLS “reese oon fot PUOOUCS OI Services... ee ee 8,500
BeOS ens ts kee ed oie ieh eel Ss So sy Ske es 25,753
Profit before deducting the following charges
IDEPRECIAG OM “givers: seaedelca a ag ue pee y. $1,091,772
Amortization of stripping costs ie 900,520
Amortization of preproduction expenditures ............. 56,957
Outside exploration expenditures written-off ............. 81,256

Provision for income taxes payable for current year ...... 950,000

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 less than the amounts recorded in the accounts

INetsprofittior thehyearin. the Ciniue. Vales sens. defcirest tre concics

STATEMENT OF EARNED SURPLUS

Balance December 31, 1961
Net profit (as above)

Deduct four dividends totalling 60¢ per share

Balance Mecembenisivel G62e. marae 2 eS

Pact NINE

$ 6,229,834
15,729

$ 6,245,563

65,853

$ 6,179,710

3,080,505

$ 3,099,205

650,000

$ 2,449,205

$ 8,201,642
2,449,205

$10,650,847
2,376,000

PDH OST