Investment Research Associates - Page 58

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          Year      Total Income   Taxable Income  Net Operating Losses               
          1978      $1,004,475     ($18,673)    ($271,394)                            
          1979       1,944,332     404,771        (18,673)                            
          1980      3,557,198           65,094    --                                  
          1981      5,158,583      (615,852)         --                               
          1982      4,536,122      (121,501)     (143,987)                            
          1983      3,849,742      (435,535)     (121,501)                            
          a.   Flow of Money From KWJ Corp. to IRA: 1978 Through 1983                 
               IRA acquired all of KWJ Corp.'s stock from Weaver in 1979.             
          At the time of the purchase, KWJ Corp. had net assets of                    
          $115,084.  IRA's consolidated returns from 1979 through 1983                
          reported the following income, net assets, and stockholder equity           
          with respect to KWJ Corp.:                                                  

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