Investment Research Associates - Page 47





                                                   - 133 -                                                     
                         8/31/77    8/31/78        8/31/79      8/31/80      8/31/81                          
          Tanglewood                                                                                           
          Income                --               --             -- $246,059    $818,591                        
          Deductions            --               --             -- (241,573)  (1,122,339)                      
          Net                   --               --             --   4,486    (303,748)                        
          NOL                   --               --             --             --             –-               
          Taxable               --               --             -- 4,486    (303,748)                          
          Holding Co.                                                                                          
          Income                                                                                               
          Dividends            --    $118,940       $35,069      30,773         78,130                         
          Interest             --    284,413        449,889      182,802      80,077                           
          Gross rents          --    182,357        264,538      264,338      264,938                          
          Capital Gain         --       (35,277)                 272,693                                       
          Partnerships         --    (118,638)      58,819     (240,878)      (405,693)                        
          Commissions          --       92,792      63,788       75,000       344,175                          
          Consulting fees      --               --             --             --          150,000              
          Condo conversion     --               --             --  579,394           --                        
          Other                                               59,852         --                              
          Total                      524,587        872,103    1,223,974      511,627                          
          Deductions                                                                                           
          Bad debts            --               --             --             --    799,552                    
          Interest             --    176,936        477,517    372,691      1,160,279                          
          Depreciation         --    442,276      315,911      225,651        161,179                          
          Commissions                                                                                          
          Consulting         --               --             --   15,000   600                                 
          Legal & profess.     --               --  5,796        15,297         2,689                          
          Other                --      2,541         252          2,342      14,192                            
          Total              --           621,753   799,476    630,981     2,138,491                           
          Net Income            --   (97,166)       72,627       592,993    (1,626,864)                        
          NOL                   –-               --(209,008)      (166,190)          --                         
          Special ded.          --      (112,776)    (29,809)    (26,157)     (66,950)                         
          Taxable Income        --   (209,942)    (166,190)     400,646  (1,693,814)                           
          Holding Co.                                                                                          
          Assets                --               --             --             --             --               
          Cash           27,199      3,012        (14,850)       31,613       (590,353)                        
          Dividends receiv.    --     77,847     --             --             --                              
          Mortgage Loan        --   94,479   14,479           --             --                                
          Loans                                                                                                
          Stockholders   161,500        197,638     40,316           --             --                         
            Subsidiaries                                                                                       
          Others         2,371,000   5,325,153    12,188,227   15,378,662      4,228,168                       







Page:  Previous  123  124  125  126  127  128  129  130  131  132  133  134  135  136  137  138  139  140  141  142  Next

Last modified: May 25, 2011