Cassiar Asbestos Corporation Limited

and its subsidiaries

STATEMENTS OF CONSOLIDATED OPERATIONS AND RETAINED EARNINGS

For the Year Ended December 31, 1970
(with comparative figures for the year 1969)

OPERATIONS

Revenue:

Asbestos fibre sales
Other sales
Investments

Expenses:

Costiofesalesn(note st) sede are te ee A pees ergs
Transportation to Vancouver and warehousing (note 1) ..
Administration, selling and general expenses (note 7) ....
Exploration and research expenses ....................
Interest on borrowings

Minority interest in profit of subsidiary ....................
Profit before income taxes

Income taxes (note 4):

Current
Deferred

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BarninpsysPelsateye ete eas seca err ae ene eer ee

RETAINED EARNINGS

Balancematelbe Sinmun lao fany Cc agers eran ar re eae ea
INCtuprotit for ther year ieee ts ee ree ete een re ee

Dividends totalling 80¢ per share (1969 — 60¢ per share)
Balancesatcend Ofey Ca tec re seer a ane eer eerie tee

PAGE EIGHT

1970

$41,321,623
529,573
33,257
40,963

41,925,416

20,758,088
9,648,240
2,274,673

280,042
432,993

33,394,036

8,531,380
11,068

8,520,312

760,000
620,000

1,380,000
$ 7,140,312
$ 1.31

$17,577,605
7,140,312

24,717,917

4,400,000
$20,317,917

1969

$37,188,930
313,182
25,048

37,527,160

17,817,211
8,466,446
1,828,458

249,030
___ 709,636

29,070,781

8,456,379
3,456
8,452,923

2,165,000
(375,000)
1,790,000

$ 6,662,923
$ 1.27

$14,066,182
6,662,923

20,729,105
3,151,500

$17,577,605