Cassiar Asbestos Corporation Limited

STATEMENTS OF OPERATIONS AND EARNED SURPLUS
FOR THE FIFTEEN MONTHS ENDED DECEMBER 31, 1961

STATEMENT OF OPERATIONS

Deduct:
Remunerationvofsexecutive officers samsmm sas miei s smear sung $ 39,500
Directorsg it ces ie seat mtenetiren ole OR ao Niemen eens ese ee 14,000
Wegalire csp mu Setinstsh cst tees. paren euGer Beant Sah Siete no gS 53,200

Profit before deducting the following charges
Bepreciati one sume as stes in nronn ee Na De a eet en $1,307,529
LINSCATOM OF CBDING CORB 842,476
Amortization of preproduction expenditures 98,184
Outside exploration expenditures written-off : 166,416
Provision for income taxes payable for current period 600,000

Portion of earnings deferred equivalent to the reduction in taxes payable
for the current period arising from claiming for tax purposes the maxi-
mum capital cost allowance and stripping costs 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 in the accounts

INGE foro for tne ithieen camming

STATEMENT OF EARNED SURPLUS

Balancer Se pte tn be re5,0 see 6 (ment ates ree te Rien te aR Be eee Se
Net profit (as above) —.....-..- EN pee Rata i sel Ses BE eS ee Tete

Decmer linge chiviclonls walling 75¢ jase Snare —

Balances ecember=3iley 196 lie tasere Wee. Sexerete ets aU rat) A eee ies Re eee ee

Pace NINE

$ 7,018,436
23,022

$ 7,041,458

106,700

$ 6,934,758

2,974,605

% 3,960,153

1,130,000

$ 2,830,153

$ 8,341,489
2,830,153

$11,171,642
2,970,000

$ 8,201,642