- 120 -
IRA's consolidated returns for 1988 and 1989 reported
consolidated net losses, and net income or loss for Cedilla
Investment Co., Zeus, and Decisions Holding Corp. and reflected
the following income and end-of-year balance sheets with respect
to IRA (unconsolidated):
1988 1989
Consolidated income (loss) ($637,842) ($116,521)
Cedilla Invest.
Net 52,446 11,702
NOL (704,460) (652,014)
Taxable (652,014) (640,312)
Zeus
Net (163,987) (18,419)
NOL (181,747) (345,734)
Taxable (345,734) (364,153)
Decisions Holding Corp.
Net income (1,066,348) (3,394)
NOL (1,066,348)
Taxable income (1,066,348) (1,069,742)
IRA
Income
Dividends 65,093 --
Interest 180,828 120,555
Gross rents 188 --
Capital gain 293,593 780,343
Partnerships 106,970 110,087
Commissions/fees
Total 646,672 1,010,985
Deductions
Commissions/fees
Other 44,001 59,927
Total 44,001 59,927
Net income 602,671 951,058
NOL (311,625) (419,626)
Special deductions (52,074) --
Taxable income 238,972 531,432
Page: Previous 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 NextLast modified: May 25, 2011