HomeMy WebLinkAbout1946_VILLAGE OF EDINA_AUDIT REPORT0
0
n
u
AUDIT REPORT
For the Year Ended December 31, 1946
COUNTRY CLUB DISTRICT SEER CE COMPANY
(A Corporation)
Minneapolis, Minnesota
U,
y
0
4
•
Country Club District Service Company
TABLE OF 0014TENTS
PAGES 1 TO 7 -- Letter of Transmittal and Comments.
PAGE 8 - Certificate.
EXHIBIT A - Balance Sheet, As at December 31, 1946.
EXHIBIT B - Analysis of Earried Surplus, For the
Year Ended December 31, 1946.
EXHIBIT C - Profit and Loss Statement, For the Year
Ended December 31, 1946.
SCHEDULE C-1 - Operating Costs and ftpenses, For the
Year Ended December 31, 1946.
SCHEDULE A -1 - Fixed Assets and ,accumulated Deprecia-
tion, For the Year Ended December 31,
1946.
AUSTIN & COMPANY
CERTIFIED PUBLIC ACCOUNTANTS
ROANOKE BUILDING
MINNEAPOLIS
ALBERT B.AUSTIN,C.P.A. -
June h, 1947•
Mr. Oscar Gaarden, President,
Country Club District Service Company,
Minneapolis 10, Minnesota.
Dear Sirs
We have made an examination of the .books and records of .the COUNTRY
CLUB DISTRICT SERVICE COIAPANY, a Minnesota Corporation, KMTWOLIS, MIN1NESOTA,
for the year ended December'31, 1946, and we are pleased to submit our report in
the following comments and in the Exhibits and Schedules as listed in the pre=
ceding Table of Contents.
HISTORICAL
1 771
A complete history og the'Compapy was`eet, forth in our report for the
year ended December 310 191�c?, and subsecluent- data is included in our reports for
the years ended December 31 19137, trough 1945 :none interested in the his-
.
tort' of the Company prior to the beginning of this year may refer to those re-
ports. There has, been no change during the current year as to the status of the
Company in regard to the question of ownership of'certain viater mains, 'and -storm
and sanitary sewers, and until such time as there is .a complete clarification of
the interpretation of the Courtte intention, the - values -as stated in this report
do.not necessarily represent the true values of the properties -of the Company,
and in view of the above, we have not disturbed the,values as they appear.on the
books .of the Company.
During the current gear, the Village of Edina,. in conformance with pro-
visions of-the franchise, made an offer.to buy the water system-41. As provided in
the franchise, a Committee of three Engineers, one selected-,.by the Company, one
by the Village and the third by the other two Engineers, made an appraisal of
the value of the water system. The Village then made an offer which disagreed
THE PUBLICATION OF ANY CONDENSATION OR MODIFICATION OF STATEMENTS HEREIN CONTAINED OR THE USE OF OUR CERTIFICATE DETACHED
FROM ITS CONTEXT. OR THE USE OF OUR NAME IN CONNECTION WITH THE SALE OF SECURITIES OR OTHER PUBLICITY WILL NOT BE
SANCTIONED UNLESS FIRST SUBMITTED FOR OUR APPROVAL.
n
u
n
u
2
Country Club District Service Company
materially from the figures arrived at by the appraisers, and the Company filed
a petition and complaint with the Hennepin County District Court disagreeing with
the figures arrived at by the Village, and petitioning said Court to determine a
fair valuation. No hearing has been held as yet on the above petition.
Also during the.current year, the Village of Edina brought an action
against the Company to effect a decrease im consumer.rates, This - action was
countered by the Company, which did not concede the reduction -'and the.Company
also asked for payment for fire protection which the.Village has always enjoyed
but has never.paid for. No action has been taken as yet on this case.
FINANCIAL POSITION
We are submitting as Exhibit A and supporting Schedule
A -1 the finan-
cial position of the Company in detail-as of Decesber 31, 1946, subject however,
to the preceding comments under =the
caption. aHistoriaalW and further. comments in
this report. For your convenience.,-we.are submitting in summarized
form,''this
balance sheet in comparison with the
, one f ®r Peceriber 31, 1945, together with
increases and decreases as follows:
DECEMBER 31, DECEMBER 31,
INCREASE
ASSETS
1 9 4 6 1 9-4 5- -
DECREASE
Fixed Assets (Net)
6174,044.28 : $164,972.85
$-9,07.1.40
Current Assets
170466.32 14,956.80
2,509.52
Deferred Charges
61,20 18'.00
'43.0
TOTAL ASSNS
X191,571.80 iln2947.68
11 `62
LIABILITIES AND" NET . WORTH
-Fixed Liabilities
25,670." 6- 18,103.85
$ 7066,59
Current- 4abilities
4,032.27 4,005.81
.26.46
-Net Worth
161,869..09 157.838.02
4.031.07
TOTAL LIABILITIES AND
NET WORTH
1 1 1.80 179.947.68
fill 412
The changes in the balance sheet arise primarily from the result of ad-
ditional investments in the water division and additional income due to increased
0
11
s
n
- 3 -
Country Club District Service Comoany
consumer service. The surplus account, totalling $143,169.09, is classified as
followss
Capital Surplus $117,!.94.77
Contributions in Aid of Construction 16,922.79
Earned Surplus 8.751.53
TOTAL X14.31169.09
For a full explanation of the capital surplus, please refer to our re-
port of December 31, 1940. Contributions in aid of construction, in the amount
of $16,922.79 represents money contributed to the Company for the extension of
service facilities that become the property of the Company and therefore, are
included in its plant value. The earned surplus, totalling $8,751.53, is set
forth in detail in Exhibit B, which shows an increase over the previous year
in the amount of $1,884.81, all of which has resulted from net profit for the
year.
OPERATIOES
The operations for the year ended December 31, 1946, are shown in de--
tail in Exhibit C and supporting Schedule C-1, and shows a net profit of
$1,884.81 after providing for interest charges, depreciation and income taxes.
In arriving at these figures, depreciation in the amount of #4,851.52 has been
included. In order that you may have a better understanding of the operations
for the year, we submit a condensed comparison for the current year and for the
year ended December 31, 1945, together with increases and decreases in both
amounts and percentages as followss
:J
9
s
-4-
Country.Club District Service Company
NET PROFIT TO SURPLUS 11884.81 7.$ 2kL.D 1.4Q L13_61.88
6.
It will be noted from the foregoing - _comparison that there was an increase
in revenue and a corresponding increas'e-in,opqratin� costs.over the previous years
I:PM WTS ON- BALANCE SHERRY ,
FIXED ASSETS=
We are showing the fixed assets in summarized form on the balance sheet
Exhibit A, and in detail on Schedule A -1. New expenditures during the year
amounted to:$13,922092, most of which were additions to.the water distribution
system. Depreciation in the amount of $4051.52 has been taken into operating
expenses. The fixed assets of the Company are pledged to the St. Paul Fire and
Marine Insurance Company for a loan in the original amount of $20,000.00 with a
present balance of $11,000.00 bearing. interest at 5 %. The interest is payable
on may 1 and November 1 of each year, and the principal is payable at the rate.
of $1,000.00 per year on November l up to November 1, 1951, and the balance of
$6,000.00 remaining at that time is- payable on November 1, 1952•
Daring the past, the Company has extended service into newly developed
YESAR
ENDED
DECE MER
31, 1946- DECMER- 312 1945 INCREASE - :DECREASE
AMOUNT % TO SALES AMOUNT % TO SALES AMOUNT.% TO SALES.
Sales
623,929.03
100.00%
09.036.27 100.00%
$4,892.76
-o--%
Operating Costs and Expenses::
Water Purchased for Resale
568.78
2.38
$ 335.84 - .1.76
$ 232.94
.62
Power and Pumping
6,797.43
28.40
5,662.85 29.75
1,134.58.
1.35
Distribution Expense
5,697.36
23.81
4964.04 26.07
733.32
2.26
Accounting and .Collection
3,956.56
16.53
3,331.66- 17.50
- 624.90
.97
Administrative and General
3.$52.97
16.10
3,833.29 20.15
19.68
4•95
Total Operating Costs and-
Expenses
$20.873.10
87.22
818,127,68 95.23.
$2,745.42
8
Net Operating Profit
3,055.93
12.78
908.59 4.77
$2,147.34
8.01
Other Income
.68
-- .-0 --
-0= -0-
, 68
-0-
$ 3,056.61
12.78
6 908.59 4.77
$2,148.02
8.01
Other Deductions
591.67
2.47 6141.66 3.37
49.99
.90
Net "Profit Before Provision
for Income Taxes
8 2,464.94
10.31
266.93 1.40
$2,198.01
8.91
Income Taxes
580413
.2.43
-0- --0-
580.13
2.
NET PROFIT TO SURPLUS 11884.81 7.$ 2kL.D 1.4Q L13_61.88
6.
It will be noted from the foregoing - _comparison that there was an increase
in revenue and a corresponding increas'e-in,opqratin� costs.over the previous years
I:PM WTS ON- BALANCE SHERRY ,
FIXED ASSETS=
We are showing the fixed assets in summarized form on the balance sheet
Exhibit A, and in detail on Schedule A -1. New expenditures during the year
amounted to:$13,922092, most of which were additions to.the water distribution
system. Depreciation in the amount of $4051.52 has been taken into operating
expenses. The fixed assets of the Company are pledged to the St. Paul Fire and
Marine Insurance Company for a loan in the original amount of $20,000.00 with a
present balance of $11,000.00 bearing. interest at 5 %. The interest is payable
on may 1 and November 1 of each year, and the principal is payable at the rate.
of $1,000.00 per year on November l up to November 1, 1951, and the balance of
$6,000.00 remaining at that time is- payable on November 1, 1952•
Daring the past, the Company has extended service into newly developed
5-
Country Club District Service Company-
sub - divisions and agreements were made whereby the.promoters of these sub- divisions
• furnished the money for the extending of-the water mains without interest. The
Company agreed to repay these advances -by returning to, the sub- dividers, a portion
of the revenue received from the users of these mains until paid for, but in no
event were repayments to be made fora period to exceed fifteen years. The Com-
pany now has advances for conetruction.repayable out of.revenue as at December 31,
1946, totalling $15,670.". Just prior to the end of the year, the Company made -
an.agreement with the sub - dividers in which it agreed to liquidate the above bal-
ance, and on January 27, 1947, the Company completed this transaction by a payment
and received full release from the sub- dividers.
In addition to the above amounts referred to, the Company has received.
contributions in aid of construction -for specific extensions which certain cus-
tomers wanted. These contributions vere outi -fight- ,gifts to the Company in order to
secure water service and these have-been` taken -in as,,pamt.of the surplus. The ex-
r
tensions covered by these oontribut ons'ber.6me' the,property of the-Company and are
included in their fixed assets. '
CURRENT ASSETSs
The cash on hand and in banks is distributed as follows:
Undeposited Cash 31.98
Northwestern National Bank of Minneapolis 51984.49.
First Edina State Bank 8.247.36
TOTAL 1 26 ..8
We have made a detailed check of all deposits against recorded receipts
and of all withdrawals from the bank and found them to be properly recorded and
in order. We further reconciled the balances as shown by the books with those
shorn by the bank statements and verified the bank balances by direct correspond-
46 once with the depository.
The accounts receivable in the amount of'$2,122.0l, have been classified
on the balance sheet as to their nature. We made a detailed check of these ac-
counts and revievred the methods used to handle them and they appeared to be in
6 �-
Country Club District Service Comuany
I
proper form.., We Aidl not verify the balances by direct correspondence with :the::;
• customers.
The inventories amounting.-to.$l,080.45'.are classified on the balance .
sheet: We were not present when the inventories were taken but.we:examined.the
records of the Company,xith regard to-these inventories and they appear to be:.._
proper, and the valuee'.appear.to be conservative.
FIXED LIABILITIW -
The Company negotiated its first mortgage.loan on its operating proper=
ties,as of November 1, 1937,.with the St. Paul., -Fine and Marine Insurance Company.
in the total amount of:- $20,000.00, bearing interest at 5% per annum, which in-
terest is payable on'May 1 and November 1 of each year. The.principal is.payable
$1,000.00.annually up to.November:l, 1954 and.the remaining $6,000.00.becomes..
due and payable on November-.1, 1952. The present unpaid balance of this mortgage
3:s $11,000.00 and-of this .amounts ire have .shoin1gt30Q:00 among the current lia-
bilities as it becomes. due On.146vember-1' 1947. -The balance of-fixed liabilities
-
totalling 615 - .670.4.4 is made ctp -of ,advances for, construction which we have ex:-
plained in.a previous paragraph.
CURRENT LIABILITIESs.
The current liabilities, consisting -of accounts payable <and accruals
for interest and taxes'principally, are shown in detail on the balance sheet and
we believe need no further explanation..
NET VORTHr
The particulars of net worth are set forth on the balance sheet Exhibit
A, and the changes in earnad'surplus are set forth in Exhibit B. Net worth-is
subject to revision.to give effect -to the final- decisiona.as to.the ownership of.
` certain of the,properties as discussed elsewhere in this report, and in our pre-
vious reports. All -of the capital -stock outstanding is held by-Mr. Oscar Gaarden.
The preferred stock provides for,6%'annual cumulative dividends, and these divi-
dends are eight years in arrears, which makes a total of.$48.00 per share or
49
L]
- 7 -
Country Club District Service Company
45,760.00 in all. The surplus account has been classified on the balance sheet
and totals $113,169.09. These classifications are explained in a previous para-
graph.
We found that the Company keeps very accurate and complete records so
that full information on all of the activities is readily available.
We wish to express our appreciation of the courtesies extended and the
cooperation afforded us during the course of this engagement.
Respectfully submitted,
Certified Public Accountants
L]
P
ALBERT B.AUSTIN,C.P.A.
AUSTIN Sc COMPANY
CERTIFIED PUBLIC ACCOUNTANTS
ROANOKE BUILDING
MINNEAPOLIS
CERTIFICATE
We have made an examination of the Balance Sheet of the COUNTRY CLUB
DISTRICT SERVICE WMANY, MINNEAPOLIS.. MINNESOTA, as at December 31, 1946, and
of the Statement of Income and Surplus for the calendar year ended December 31,
1946• In connection therewith, we have examined or tested accounting records
of the Company, and other supporting evidence and obtained information and ex-
planations from officers of the Company,, but we did not make a. detailed audit
of the transactions.
In our opinion, based upon such examination, and subject to the com-
meats contained in this report, the accompanying Balance Sheet and related
Statement of Income and Surplus fairly present, in accordance with accepted
principles of accounting, consistently maintained by the COUNTRY CLUB DISTRICT
SERVICE COMPANY during the calendar year under review, its position at Decem-
bar 31, 1946, and the results of the operations for the year.
June 4, 1947.
Respectfully submitted,
Certified Public Accountants
THE PUBLICATION OF ANY CONDENSATION OR MODIFICATION OF STATEMENTS HEREIN CONTAINED OR THE USE OF OUR CERTIFICATE DETACHED
FROM ITS CONTEXT. OR THE USE OF OUR NAME IN CONNECTION WITH THE SALE OF SECURITIES OR OTHER PUBLICITY WILL NOT BE
SANCTIONED UNLESS FIRST SUBMITTED FOR OUR APPROVAL.
Exhibit A
Country Club District Service Company
BALANCE SHEET.
As at December 31, 1946
A.8SETS
FIXED ASSETS: Note A - Schedule A -1
Land - -5,498:83
Wells, Building, Tank, Distribution
System, Tools and Equipment 02449'095..55
Loses Accumulated Depreciation
(Including $29,178.19 accrued at
date of appraisal) - 75.550.10 168,545-45.--
4
TOTAL FIXED ASSETS (NET) $174,044.28
The above valuations were based on independent appraisal
as of January 1, 1937, plus subsequent additions at
cost.
The above assets are pledged to secure.a 5% First Mortgage'
originally 620,000.00, now $11,000.00.
CURRENT ASSETS:
Cash on Hand and in Banks $ 140263.83
Accounts Receivable -
water 45.87
Construction Contributions 19884.67
Miscellaneous � � -- -191 50 2,122004.
Inventories -
Meter 8I2.76' .
Miscellaneous 267.69 1.080:45
TOTAL CURRENT ASSETS �_ ..17,466.32
DEFERRED CHARGES
Unexpired Insurance 61.20
NOTE A - In a Minnesota Supreme Court decision handed down and filed on:
January 21 1943, the Court held that the water - mains =and sewers
serving the lots in the Brown and Fairway- sections of the Country
Club District sold prior to October 1, 1935, Were the property of
the Village of Edina for the benefit of the lot owners. However,
the decision is not clear, and until such time as the values.are
definitely_determined and segregated, we are not disturbing the
values as they appear on the books of the Company, and the values
as stated in this report do not- necessarily represent the.-true
values of the.properties of the Company. However, any property
installed prior to the present ownership not covered.by the decision
and all additions and installations made subsequently are included
- in the capital accounts end are the property of the Company.
NOTE B - Accumulated dividends on Preferred Stock to the.extent of $48.00 per
share or a total of $5,760.00 as at December - 31,.1946, are unpaid..
TOTAL ASSETS
X191.,571.80
LIABILITIES.AKD NET WORTH
FIXED LIABILITIES:
5% First Mortgage dated November 1, 1937 to the
St. Paul Fire and Marine Insurance Company
due $1,000.00 annually on November 1 of each
year to November 1, 1951, and $6,000.00 on
November 1, 1952• Secured by all operating '
properties. Original amount $20,000.00, now $11,000.00
Less: Due within one year, shown under Current
Liabilities 1,000:00 $ 10,000.00
Advances for Construction
Advanced by Sub - Dividers during past years,.,,;
to have been repaid out of revenue.
On January 27, 1947, this liability was.fully
liquidated by settlement with the Sub -
Dividers - (See Comments)
Balance as at December'31, 1946 15.670.44"
TOTAL FIXED LIABILITIES 251670.1,4
CURRENT LIABILITIES:
Accounts Payable -
Income Tax withheld on Wages
309.74
Miscellaneous
25.95
$ 335.69
Accounts Receivable - Credit Balances
7.45
Accruals -
.Interest Payable
91.67
Real Estate and Personal Property Taxes
29010.72
Social Security Taxes
6.61
Federal Income Tax
501.02
Minnesota Income Tax
79.11
2,689.13
Dotes Payable -
Current Maturity. - -First Mortgage due
November 1, 1947'(See.above)
1,000:00
TOTAL CURRENT LIABILITIES
4,032.27 '
NET WORTHS
Capital Stock -
Authorized -
6% Cumulative Preferred, $100.00 Par Value,
Callable :at -Par - 300 Shares
;' S 30,000.00
Common -- -No -Par Value .- 200 Shares
:.i, -0-
Outstanding '-
Preferred - 120 Shares. (See Note.B),
12,000.00
Common - 200 Shares
6,700.00
18,700.00
Surplus -
Capital Surplus
$1170494.77
Contributions in Aid of Construction
161922.79
Earned Surplus - Exhibit B
8,751.53
143,169.09
TOTAL NET WORTH
161,869.09
TOTAL LIABILITIES AND NET WORTH
191,571.80
1:
Country Club District Service Company
ANALYSIS OF EARNED SURPLUS
For the Year Ended December 31, 1946
.Exhibit B
41 BALANCE, PER AUDIT REPORT,-DECEMBER-31, 1945 $6,866.72
ADD&
Net Profit for Year, after Provision for
Intone Taxes 1,884.81
TOTAL EARNED SURPLUS, FXR MI UBIT A 8 "1
s
Country Club District Service Company
i PROFIT AND LOSS STATEMENT
For the Year Ended December 31, 1946
OPERATING REVENUES:
Sales and Services to Customers
Miscellaneous Revenues (Net)
GROSS REVENUES
OPENING COSTS AND EXPENSES: - Schedule C-1
Water Purchased for Resale $ 568.78
Power and Pumping 6,797.43
Distribution Expenses 5,697.36
Accounting and Collection 3,956.56
Administrative and General 3.852.97
t
TOTAL OPERATING COSTS AND EXPENSES
NET OPERATING PROFIT
OTHER. INCOME
Interest Received
OTHER DEDUCTIONS
Interest Expense
NET PROFIT (Before Provision for Income Taxes)
Lesss
T PROVISION FOR INCOME TAXES
Federal
Minnesota
NET PROFIT TO SURPLUS - Exhibit B
Provision for Depreciation Included in Above
•
Exhibit C
$23,886.06
42.97
$23,929.03
20.874.10
$ 3,055.93
.68
$ 3,056.61
591.67
$ 2,464.94
$ 501.02
79.11 580.13
11,884.81
40951.52
S
At
Schedule C-1
Country Club District Service Company
OPERATING COSTS AND EXPENSES
For the Year Ended December 31, 1946
WATER PURCHASED FOR RESALE $ - 568.78
POWER AND PUMPING:
Power Purchased
$2,843.20
Operating Labor
698.50
Depreciation
1,047.83
Local Taxes
2,010.72
Supplies and Expense
162.33
Maintenance
3185
TOTAL POWER AND PUMPING 6,797,43
DISTRIBUTION EXPENSE:
Depreciation $3,786,14
Maintenance of Mains 280.36
Service on Consumers Premises 11062.05
Operation of Distribution sines 568.81
TOTAL DISTRIBUTION EXPENSES 5,697.36
ACCOUNTING AND COLLECTION:
Meter Reading $ 349.50
Billing and Accounting 2,760.00
Miscellaneous 847.06
TOTAL ACCOUNTING AND COLLECTION 3,956.56
ADMINISTRATIVE AND GENERAL:
Salaries and Wages $23,,4",00
Office Supplies and Expense 19,29
Legal and Audit 156,,00--'
Insurance 21.75
Miscellaneous 19148,90
Payroll Taxes 45.48
Depreciation on Office Equipment 17.55
TOTAL ADMINISTRATIVE AND GEIMUL 3,852.
TOTAL OPERATING COSTS AND EXPENSES - To Exhibit C 1202872.10
Country Club District Service Company
FIXED ASSETS AND ACCUMULATED DEPRECIATION
For the -Year Ended December 31, -1946
A S S E T S
BALANCE BALANCE
1-1-46 DEDUCTIONS 1212 - 31:466.6 RATE
WATER DIVISIONa.
-0-
-0-
-0- $
Land
$ 3,000.00
$ 20498.83
-0-
Buildings
2,109.40'.
85.17
-0-
well ,# ..1
.2, 578.27
-0-
42.97
Well #- 2
1, 950.00
-0-
. -0-
Elevated Tank and Piping
10,053.34
-0-
-0-
Pumping Equipment
8,709:28
-0-
-0-
Water Distribution System
1220958.15
31,317.87
-0-
Meters
49.44
-0-
-' . -0-
TOTAL. WATER DIVISION
$151,407.88
13 0 qq.gj
$
SEWER DIVISIONS
30,688.00
49.44
4%
Sanitary Sewer System
` -:6- 51,522.79..
-0 -.
$. -0-
Storm Sewer System
32,079:68 ''
? -0-
--0-
TOTAL SEWER DIVISION,
s$ 83,602.47
--0_
-0-
MISCELLANSOUSs
Tools and Equipment
--485-.61
21.05
$ -0-
Office Furniture and Equipment
175.50:
-0-
-0-
TOTAL MISCELLANEOUS
$ 661.11
S 21:0
-0-
TOTALS
$235,671.46
1 0222.92
-0-
TOTALS, PER EXHIBIT A
ACC.UM TL ATED, D.EPRECI-ATI'0N
BALANCE BALANCE
1 -1 -46 - CURRENT DEbUCTIONS 12_3346
5,498.83
-0-
-0-
-0- $
-0- .
$ -0-
2,194.57
4%
805.74
85.51
-0-
891:25
2,578.27
12/3
429.71
42.97
-0-
472.68
4950.00.
1 2/3$
276.25.
.32.50
-0-
308.75
10,053.34
4%
69721.50'
.402.13
-0-
7,123.63
8,709.28
'- 5 %:
39709.59
435.46
-0-
4,145.05
3.34,276.02:
1 2/3%
28,575.89
2,112.11
-0-
30,688.00
49.44
4%
2.6
1.98
-0-
4.61
$1651 309.75 0 a 527e 11 112.66_ -0- WaQ3.L7
$ 51,522.79 $17,956.41
32,079.68 2% 11,741.26
J 83,602.47 2 6 7.67
$ 506.66
175.50
$249.594.38,
NOTE A - The above assets mortgaged to the St. Paul Fire and Marine Insurance
Company to secure a loan bearing 3nterest'at 5% in an original amount
of $20,000.00; now, $31,000.00.
NOTE B - The values as shown above -are subject to any amendments that may arise
as a result of final determination of certain ownership and valuations,
as discussed elsewhere in this report.
109
355:30.
124.30
472.6o
0. M8. L8
$lt030-46
.1.1`-2
All 672.0
$ 49.26-.
17.55
66.81
8 P1.22,
1�
�o
3 °.
0'
l
L
$18,986.87
12.382.85
1 .72
404.56
141.85
7 5 5 59. 10
Schedule' A 1.
DEPRECIATED
VALUE .-
5,498.83
1,303.32
2,105.59
1,641.25
2,929.71
4,564.23
103,588.02
44.83
;.81210675.78
32,535.92
1%,696.83
A- 52.232.75
$ 102.10
33.65
1 135.75
$174,044.28:
SO
- r q
ns
8
z