Cassiar Asbestos Corporation Limited

and its subsidiary

STATEMENTS OF CONSOLIDATED OPERATIONS AND EARNED SURPLUS

For the year ended December 31, 1965

(with comparative figures for the year 1964)

OPERATIONS
1965
Salesvoteasbestossitb res eres eee Sere ee $17,526,197
Profit on operations before deducting the following charges ....... $ 8,359,522
WOVE TOD THONRASHTMENUIS 5 ba gaacaasossoassscegcutoucvagas 227,315
8,586,837
Expenses:
Amortization of preproduction expenditures .............. 34,415
/NMORUTATOMN OH Giajoyouny GOMS 6.50260 scsc0eeeeccaceecas 1,249,525
IDE PLeclatlong ie wetter ae eee nee oes a eee ee 1,134,471
Remuneration of directors, including those holding salaried
em ployinve mtu te. ena Nee ete a een a grin ee ence a 67,967
INTRA OD PUWIROMASS COMMA 55652 b Sacco oke We asosocease 20,250
Outside exploration expenditures written off .............. 11,737
2,518,365
6,068,472
Provision for income taxes payable for current year ............ 1,310,000
4,758,472
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 when the
amounts permitted for tax purposes will be less than the :
ATO WMS maconaleGl 1m WAS ACCOWMIS . 22 so sccccccee esos 1,070,000
INetaprofitetomthemycak eres ane tere aera eee or tay $ 3,688,472

BEINGS Ati EMMI, Ot WEB se oo ee ouscnvascsccesodenessae $ 9,141,117

INL ORO TONE WINS VEEN ooo so 5p oesae canes dadecesacssopes nas 3,688,472

12,829,589
Dividends totalline(60¢spemshate <==). 05-5... _ 2,748,750
Balancera tencuo ta yea aera crete iyag earners tuyrnenr een $10,080,839

1964

$14,466,691

$ 7,401,191
1,605

7,402,796

58,782
1,184,744
1,093,058

54,050
12,000
21,700

2,424,334
4,978,462
1,185,000
3,793,462

765,000
$ 3,028,462

$ 8,488,655
3,028,462
US LYS
2,376,000

§ 9,141,117