Cassiar Asbestos Corporation Limited

and its subsidiary

STATEMENTS OF CONSOLIDATED OPERATIONS AND EARNED SURPLUS

For the year ended December 31, 1967
(with comparative figures for the year 1966)

OPERATIONS

Revenue:

From sales of asbestos fibre
From investments

Expenses:

Cost of production of fibre sold (note 1) .................
Transportation to Vancouver and warehousing (note 1) ......
Administration, selling and general expenses ..............

Remuneration of directors, including those holding salaried
CMPlOVIMEN Cee eg kare cree a eee eo ee

Exploration and research expenses ......................
Interest on long term debt
Interest on bank loans

Profit before income taxes

Income Taxes:

Balance at beginning of year
Net profit for the year

Dividends totalling 60¢ per share

Balance at end of year

PAGE EIGHT

1967

$20,845,403
32,764

20,878,167

8,790,930
3,780,497
1,087,243

82,615
152,291
106,912

52,494

14,052,982
6,825,185

500,000
2,150,000

2,650,000
$ 4,175,185

$11,361,605
4,175,185

15,536,790
3,151,500

$12,385,290

1966

$20,393,363
255,863

20,649,226

8,776,507
3,834,530
875,865

70,413
211,804
15,750
78,591

13,863,460
6,785,766

765,000
1,875,000

2,640,000
$ 4,145,766

$10,080,839
4,145,766

14,226,605
2,865,000

$11,361,605