Michael London - Page 68

      Appendix A                                                                                                                                                                                                                                                         
        Net worth statement                      08/16/76             1976              1977               1978              1979               1980               1981                 1982                1983                 1984                1985                
        Total assets                            $254,597.00       $417,800.55        $343,773.61       $408,147.79        $605,402.54       $912,161.46        $1,030,570.49       $1,437,979.16        $1,793,399.62       $2,120,610.58        $2,253,066.90           
        Liabilities                                 3,000.00         82,739.84         78,788.41          82,091.30         83,995.57          86,277.71           88,446.53           261,061.04          265,995.99           460,999.21          284,328.83           
        Net worth                                251,597.00         335,060.71        264,985.20         326,056.49        521,406.97         825,883.75          942,123.96         1,176,918.12        1,527,403.63         1,659,611.37        1,968,738.07           
        Less: prior year's net worth                                251,597.00        335,060.71         264,985.20        326,056.49         521,406.97          825,883.75           942,123.96        1,176,918.12         1,527,403.63        1,659,611.37           
        Increase (decrease) in net worth                             83,463.71        (70,075.51)         61,071.29        195,350.48         304,476.78          116,240.21           234,794.16          350,485.51           132,207.74          309,126.70           
        Plus:                                                                                                                                                                                                                                                            
        Nondeductible expenditures                                                                                                             35,633.45           45,796.50            54,560.89           84,634.61           115,836.98          129,495.55           
        Nondeductible capital loss                                                                                                              6,980.55             4,188.00                   -0-           1,476.00                   -0-           3,000.00          
        Subtotal                                                                                                                              347,090.78          166,224.71           289,355.05          436,596.12           24,8044.72          441,622.25           
        Less:                                                                                                                                                                                                                                                            
        Non-Taxable items                                                                                                                       7,635.02             2,300.51           16,773.00           19,995.78            78,902.17           65,215.00           
        Corrected AGI                                                                                                                         339,455.76          163,924.20           272,582.05          416,600.34           169,142.55          376,407.25           
        Excess itemized deductions                                                                                                             12,684.00           15,438.72            12,138.00           33,625.00            59,169.00           60,165.00           
        Personal exemptions                                                                                                                                          6,000.00            6,000.00             6,000.00            6,000.00             6,240.00          
        Corrected taxable income                                                                                                              326,771.76          142,485.48           254,444.05          376,975.34           103,973.55          310,002.25           
        Taxable income per return                                                                                                              54,427.00           69,571.00            74,868.00           65,001.00           112,665.00           96,882.00           
        Unreported income                                                                                                                     272,344.76           72,914.48           179,576.05          311,974.34            (8,691.45)         213,120.25           


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