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construction contracts, and may not be adjusted for taxable years
ended after October 31, 1988, then the accumulated earnings and
profits and resulting deficiencies for the 1989 taxable year are:
E&P Broadaways Camerons
$251,650.13 $19,126.69 $46,014.36
(2) If Company's earnings and profits may be computed as of
the end of each taxable year on the basis of the actual contract
costs determined thereafter, but may not be adjusted for taxable
years ended after October 31, 1988, then the accumulated earnings
and profits and resulting deficiencies for the 1989 taxable year
are:
E&P Broadaways Camerons
$163,580 $12,860.57 $30,901.69
(3) If Company's earnings and profits must be computed as
of the end of each taxable year on the basis of reasonable
contemporaneous estimates of the costs to complete its
construction contracts, and may be adjusted for taxable years
ended after October 31, 1988, then the accumulated earnings and
profits and resulting deficiencies for the 1989 taxable year are:
E&P Broadaways Camerons
$141,738.76 $11,392.81 $27,153.55
(4) If Company's earnings and profits may be computed as of
the end of each taxable year on the basis of the actual contract
costs determined thereafter, and may be adjusted for taxable
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Last modified: May 25, 2011