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On the consolidated returns, IRA reported that it paid (not
including payments by subsidiaries) the following compensation of
officers, compensation of directors, salaries and wages,
commissions, and consulting fees for the years 1976 through 1989:
Year Officers Directors Wages Commissions Consulting
1976 -- -- -- $213,333 --
1977 $19,300 -- $986 12,000 --
1978 15,000 -- 5,051 207,237 $51,900
1979 -- -- -- 209,440 125,000
1980 -- -- -- -- --
1981 -- $12,500 9,969 115,400 --
1982 -- -- 26,079 -- 29,000
1983 -- -- -- -- --
1984 -- -- -- -- --
1985 -- -- -- 4,000 --
1986 -- -- -- -- --
1987 -- -- -- -- --
1988 -- -- -- -- --
1989 -- -- -- -- --
H. Changes in Holding Co. & Subsidiaries Corporate Structure
12/76 Through 8/87
Holding Co. was incorporated on December 8, 1976.
Holding Co.'s return for the fiscal year ending August 31, 1978,
indicates that Kanter owned 75 percent of Holding Co.'s voting
stock as of the close of the taxable year. The return indicates
that preferred shares as well as common shares of stock were
outstanding at that time.
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