Leonard Pipeline Contractors, Ltd. - Page 5

                                                   -5-                                                    
            Fiscal                                                After-tax      Dividends                
            Year      Assets      Gross Revenue    Gross Profit   Net Income       Paid                   
            1978   $13,797,060    $13,261,695     $1,581,772       $476,805        ---                    
            1979    10,651,010    21,321,960       2,770,522      1,099,341      $255,063                 
            1980     7,367,576       705,640      (1,048,785)       298,798        ---                    
            1981    13,225,920    40,852,715       4,550,930      1,455,211        ---                    
            1982     7,015,414    10,244,505        (102,826)      (489,941)       ---                    
            1983     5,931,770     1,213,983        (232,193)      (135,116)      631,785                 
            1984-                                                                                         
            1986    3,424,358     8,945,181         960,902       (859,615)    1,082,164                  
            26,019,914                                                                                    
            1987     2,946,961       559,312         114,798       (139,525)        ---                   
            Total      N/A       123,124,905           N/A       11,705,958     1,969,012                 
                  1                                                                                       
                        The full amount of the 1987 compensation paid to Mr. Leonard,                     
                  as well as the amount of the distribution of a 1985 in-kind dividend                    
                  that had been treated as a loss for financial accounting purposes,                      
                  have been taken into account in calculating petitioner's aggregate                      
                  after-tax net income.  The aggregate before-tax net income was                          
                  slightly over $6 million.                                                               
                  Petitioner reported the following amounts on its Forms 1120F,                           
            U.S. Income Tax Return of a Foreign Corporation, for fiscal years                             
            1979-84, and Forms 1120, U.S. Corporation Income Tax Return, for                              
            1985-87:                                                                                      





















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