Cassiar Asbestos Corporation Limited

STATEMENTS OF OPERATION AND EARNED SURPLUS
For Year Ended September 30, 1959

OPERATIONS
Profit on operations (after absorbing exploration expenditures of $273,915 and

charging stripping costs of $259,288 to cost of production but before the

Ol wiry) eaten tare ak ONDINE Sete ess ei OE NEN ou ot $ 4,330,552
Income from investments and advances __.--.-.---------e---2eceee eevee eee 53,367
$ 4,383,919
Deduct:
Remuneration of executive officers, $ 27,300
Bi rectors whee spe eee aN ce eae Ne Cale TE He en IU een es See 3,900
IME ORPOTAtL ONE xX Per se we see Meese es AC ee er Ca Se ES ila ga 4,218 35,418
Profit before taxes on income, depreciation, amortization and outside exploration $ 4,348,501
DMeductwincomentaxes|s (note i2)) gx wee sen it bre eee de a ee oe ee 200,000
Profit before depreciation and other write-offs 022 $ 4,148,501
Deduct:
Wepreciationy sees tee levies it tale pulecenie Wee Sy ie si er a $ 923,508
Amortization of exploration and development — deferred _. 34,402
Expenditures on mining properties written off —..2- 22 147,012 1,104,922
IN © Gig 9 Eg ee rr vee cn er need mPa RUPE Teen $ 3,043,579
EARNED SURPLUS
Balances Septemberys 0s g1 95.822 = wamaenew te Riser ome aaeeiy OPENEP, Sires 10 = ee Ase AT anh ae se $ 7,300,324
Neem protien (asa bove)) eee mecest arotanhih Abies a nes a Sy AUP Eels USS E re SOM ts SNP CROAT 3,043,579
$10,343,903
Deductfour:dividendsptotalling,50¢ per, share 1,980,000
Balance September 30, 1959 _... Bega SE AS lh a a es Aer se $ 8,363,903

The accompanying notes to the financial statements are an integral part of these statements

and should be read in conjunction therewith.

Pace NINE