Cassiar Asbestos Corporation Limited

STATEMENTS OF OPERATIONS AND EARNED SURPLUS

For Year Ended September 30, 1960

STATEMENT OF OPERATIONS

Profit on operations (after charging stripping costs of $424,751 but before the
following) ____

Income from investments and advances ___

Deduct:

Remuneration of executive officers o--—----——--- ~~ ~~ - =

Directors’ fees

Legal fees

Profit before depreciation, amortization, outside exploration and income taxes

Deduct:

Depreciation

Amortization of exploration and development

Outside exploration expenditures

Profit before income taxes

Income taxes:

Taxes payable for the year ____

Current year’s tax reduction applicable to future years (note 2)

Net profit for the year _

STATEMENT OF EARNED SURPLUS

Balance September 30, 1959
Net profit (as above)

$

30,525
10,850
14,177

$ 979,112

45,717
65,000

$ 385,000
1,060,000

IDachier tome chiens woullling COE rar das

BB aban cere pte in ete) Oye 19 0p eee ee ante cesses ee oO eta ene ae

The accompanying notes are a part of the financial statements.

Pace NINE

$ 4,851,775
92,192
$ 4,943,967

25,992

$ 4,888,415

1,089,829
$ 3,798,586

1,445,000

$ 2,353,586

$ 8,363,903
2,353,586

$10,717,489
2,376,000

$ 8,341,489