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CDC's Earnings and Petitioner's Use of CDC's Carryforwards
For the 6 months ending June 30, 1987, CDC, for financial
purposes, reported total assets of $22,890,735, gross income of
$2,963,940, and expenses of $3,688,840. For the fiscal year
ending June 30, 1988, CDC, for financial purposes, reported total
assets of $39,069,154, gross income of $11,257,000, and expenses
of $17,622,666. For the fiscal year ending June 30, 1989, CDC,
for financial purposes, reported total assets of $106,898,766,
gross income of $64,731,731, and expenses of $51,828,789. For
the fiscal year ending June 30, 1990, CDC, for financial
purposes, reported total assets of $138,294,807, gross income of
$81,335,142, and expenses of $63,627,979. For the fiscal year
ending June 30, 1991, CDC, for financial purposes, reported total
assets of $266,127,001, gross income of $140,899,602, and
expenses of $106,195,409. For the fiscal year ending June 30,
1992, CDC, for financial purposes, reported total assets of
$256,382,000, gross income of $216,888,000, and expenses of
$182,773,000. For the fiscal year ending June 30, 1993, CDC, for
financial purposes, reported total assets of $340,757,000, gross
income of $344,612,000, and expenses of $276,147,000.
For its taxable years ending June 30, 1989, 1990, 1991,
1992, and 1993, petitioner used CDC's preacquisition NOL
carryforwards to reduce its income by $6,106,243, $11,570,311,
$38,001,412, $37,584,020, and $12,054,360, respectively. The
Samson group reported no taxable income for its taxable years
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