Cassiar Asbestos Corporation Limited

and its subsidiary

STATEMENTS OF CONSOLIDATED OPERATIONS AND EARNED SURPLUS

For the year ended December 31, 1964
(with comparative figures for the year 1963)

OPERATIONS
1964

Salesyotzasbestosen brea ri wp ts Ae Mente erence et hc eee $14,466,691

Profit on operations before deducting the following charges . $ 7,407,207

IncomesirombinvestmentSws eye ea ee eee 1,605
7,408,812
Expenses:
Amortization of preproduction expenditures ............. 58,782
Amortization of stripping; costs) 4a. eee 1,184,744
Depreciation’ Fe ever ee Sree ea ett es 1,093,058
IDIFECLOLS HRI CCS Eanes tah a eins ge mace ee 12,750
Interestronspurchasescontia cts ses era rien eg tera 12,000
We califcesm yar wey crs eer pry hes eer ava Cee nye erm 6,016
Outside exploration expenditures written off .............. 21,700
Remuneration of executive officers ................ cee 41,300
2,430,350
4,978,462
Provision for income taxes payable for current year............ 1,185,000
3,793,462
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
amounts recorded inthe accountssn ee 765,000
INGE foro Wor (ine WERE. o.oo ee occ oes o sous endgocaucdanouane $ 3,028,462

Balancevatabe oinninego tay.cateer tse eines ee etree ice $ 8,488,655

INGE [ORO Torr (INS FRI ooo ssc cos peo vcnsosseeqossdoe ese 3,028,462

11,517,117
Dividendsstotallincs60¢ persshares es a ee ee 2,376,000
Balancema ten dno tasy ca lagen nr ee ree er care $ 9,141,117

PAGE NINE

1963

$13,882,535

$ 6,755,711
6,667

6,762,378

58,876
1,271,044
1,054,740

13,500

30,952
97,541
35,917

2,562,570
4,199,808

950,000

3,249,808

660,000

$ 2,589,808

$ 8,274,847
2,589,808

10,864,655
2,376,000

$ 8,488,655