- 111 -
Deductions
Compensation--officers -- 19,800
Salaries/wages -- 6,918
Interest 916,507 --
Depreciation 2,115,376 2,294
Commissions/fees -- --
Other 14,226 33,705
Total 3,046,109 62,717
Net income 40,012 (21,733)
Special deductions (13,147) --
Taxable income 26,865 (21,733)
Assets
Cash 1,399,085 1,510
Trade receivables 703 --
Loans
Stockholders 1,200 --
Others 1,896,320 15,885
Installment receivable 2,738,532 --
Securities
Marketable 411,481 --
Nonmarketable 348,024 --
Investment in sub. -- --
Investment in pship. 326,072 --
Depreciable assets 12,468,476 22,937
Less accumulated dep. (2,753,926) (2,294)
Cedilla trust 4,511 --
Deferred expenses 91,640 --
Other 1,325 2,060
Total 16,933,443 40,098
Liabilities
Payables 118,756 --
Short term 606,000 --
Long term 12,258,949 --
Deferred gain 2,606,029 --
Other 2,869 --
Total 15,592,603 --
Net assets 1,340,840 40,098
Capital stock
Preferred 1,000 --
Common 100 1,000
Capital surplus 18,024
Retained earnings 1,339,740 21,074
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