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