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1979 1980 1981 1982 1983
Income
Interest -- -- -- $64,688 $55,104
Commission -- $127,372 $64,574 538,781 110,125
Partnership -- -- 2,382 (150,907) (15,049)
Other fees -- -- 32,567 -- --
Misc. -- -- 8,625 12 --
Total income -- 127,372 108,148 452,574 150,180
Deductions -- 9,103 261 3,883 1,052
Taxable -- 118,269 107,887 448,691 149,128
Nontaxable -- -- -- -- --
Partnership -- 6,828 -- (27,061) (753)
Assets
Cash -- 393 27,990 284 7,832
Loan receiv. -- -- 64,000 64,000 866,000
Securities -- -- -- 685,000 --
Money market -- -- 69,002 -- --
Partnerships $100,000 234,200 172,896 (5,073) (20,875)
Pooled funds -- -- -- 11,339 --
Intangibles -- 128 96 64 32
Total 100,000 234,721 333,984 755,614 852,989
Liabilities 50,000 59,624 51,000 51,000 --
Net assets 50,000 175,097 282,984 704,614 852,989
Capital stock 100 100 100 100 100
Capital -- -- -- -- --
surplus 49,900 49,900 49,900 49,900 49,900
Retained -- -- -- -- --
earnings 125,097 232,984 654,614 802,989
The $50,000 liability in 1979 and $51,000 of the liabilities
reflected on the balance sheet from 1980 through 1982 represented
loans outstanding from IRA to Zeus. The $64,000 loan receivable
is shown on Zeus' general ledger for 1984 as owed to Zeus by
Holding Co.'s subsidiary HELO.
At the close of 1982, Zeus had liquid assets of $696,623
($284 cash, $685,000 money market funds, and $11,339 in pooled
funds). During 1983 Zeus received cash income of $165,229
($55,104 interest and $110,125 commissions) and had cash
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