Investment Research Associates - Page 46





                                                   - 132 -                                                     
                         8/31/77    8/31/78        8/31/79      8/31/80      8/31/81                          
          Income(loss)                                                                                         
          Consolidated                                                                                         
          Income                --      $594,653    $900,572   $1,076,933  $1,110,335                          
          Deductions            --      (613,972)   (813,324)    (939,205)  (3,828,869)                        
          Net                   --   (19,319)       87,248     137,728    (2,718,534)                          
          NOL & Special         --      (112,776)   (160,468)     (99,377)  (80,124)                           
          Taxable               --          (132,095)(73,220)   38,351   (2,798,658)                            
          Active                                                                                               
          (acq. 11/77)                                                                                         
          Income                --      59,961      28,387       49,902       23,768                           
          Deductions            --        (1,106)     (3,468)      (5,863)     (4,381)                         
          Net                   --   58,855       14,919         44,039       19,387                           
          NOL                   --               --           (1,658)          --             –-               
          Taxable               --             58,85513,261       44,039       19,387                           
          Citra                                                                                                
          Income                --      19,327         82           6           --                             
          Deductions            --        (335)         (211)      (1,221)        (20)                         
          Net                   --      18,992         (129)     (1,215)      (20)                             
          NOL                   --  --             --             (129)   (1,344)                              
          Taxable               --   18,992         (129)        (1,344)      (1,364)                          
          HELO                                                                                                 
            (acq. 7/78)                                                                                        
          Income                --               --             --    1,485 4,597                              
          Deductions            --               --     (115)     (31,309)    (149,974)                        
          Net                   --               --    (115)     (29,824)     (145,377)                        
          NOL                   --               --             --             (115)  (29,939)                 
          Taxable               --               --    (115)     (29,939)     (175,316)                        
          Nominee                                                                                              
          Income                --               --             --             --     --                       
          Deductions            --               --             --   (31)   (1,589)                            
          Net                   --               --             --   (31)   (1,589)                            
          NOL                   --               --             --                  (31)                       
          Taxable               --               –-             --  (31)      (1,620)                          
          Oil Investments                                                                                      
          Income                --               --             -- (444,493) (619,431)                         
          Deductions            --               --      (54)    (28,227)     (5,637)                          
          Net                   --               --    (54)    (472,720)      (625,068)                        
          NOL                   --               --             --      (54)    (472,774)                      
          Taxable               --               --    (54)      (472,774) (1,097,842)                         








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Last modified: May 25, 2011