- 9 -
The following is respondent's computation of petitioners'
increase in net worth plus personal living expenses for 1990:
12/31/89 12/31/90
Assets
Bank account balances
Cash on hand $ 0.00 $ 0.00
Sunwest - 180-009126 15,506.99 4,432.00
Sun World - 27-02180 8,226.29 11,922.00
Sunwest Bank - 1800048108 0.00 5,930.00
Sunwest Bank - 1850002567 0.00 1,028.00
Sun World - 27-02236 1,754.74 0.00
Sun World - 62-00931 1,717.29 3,674.00
Sunwest Bank - 1800095316 0.00 14,177.00
Sunwest Bank - 1800096908 0.00 1,355.00
Cash transferred to JKY 0.00 (8,106.00)
$ 27,205.31 $ 34,412.00
Inventory $ 272,797.00 $ 0.00
Personal property
Store equipment $ 378.00 $ 0.00
Steel gate 140.00 0.00
Improvements 888.00 0.00
1982 Chevrolet van 11,629.00 0.00
Display case 600.00 0.00
Fixtures 5,406.00 0.00
Cash register 1,188.00 0.00
1989 Isuzu 13,317.00 0.00
1988 Cadillac 19,973.80 19,973.80
$ 53,519.80 $ 19,973.80
Real property
515 S. Stanton $ 447,000.00 $ 447,000.00
519 S. Stanton 450,000.00 450,000.00
413 E. 8th Street 300,000.00 300,000.00
$1,197,000.00 $1,197,000.00
Capital account - JKY $ 0.00 $ 283,043.00
Unused passive losses $ 63,943.00 $ 38,413.00
Total assets $1,614,465.00 $1,572,842.00
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Last modified: May 25, 2011