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KBI paid Mr. Solaas, John C. Espino (Mr. Espino), and Larry
C. Graham (Mr. Graham), officers of KBI, the following salaries:
Year Mr. Solaas Mr. Espino Mr. Graham
1987 $156,000 $69,566 $65,738
1988 203,980 73,653 68,525
Mr. Solaas decided how much KBI paid Mr. Espino, Mr. Graham, and
himself.
Parr Contracting Co. (PCC) was a construction contractor
similar in size to KBI--it averaged between $20 and $35 million
in gross sales per year. From 1986 through 1989, PCC paid its
CEO between $350,000 and $500,000. Auerbach Construction, Inc.
(ACI), was a construction contractor similar in size to KBI--it
averaged between $20 and $25 million in gross sales per year. In
1989, ACI paid its president and CEO approximately $250,000.
Several times from 1988 until 1992, KBI loaned various
amounts of money to Mr. Solaas. KBI recorded these loans on its
financial statements as accounts receivable from Mr. Solaas. Mr.
Solaas determined the amounts of these loans. Between September
of 1989 and December of 1992, Mr. Solaas repaid $88,000 of the
money KBI loaned to him.
As of February of 1993, KBI's loan account analysis listed
the amount of the loans outstanding to Mr. Solaas as totaling
$911,073.15. After February of 1993, KBI did not loan Mr. Solaas
any money. On March 30, 1994, the amount of KBI's loans
outstanding to Mr. Solaas totaled $1,011,340.
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