Investment Research Associates - Page 67

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               IRA's balance sheet showed the following assets,                       
          liabilities, and stockholder equity at the close of 1983:                   
               Assets                                                                 
               Cash                                         $110,281                  
               Notes/accounts receivable                    2,070,128                 
               Loans receivable                             1,592,983                 
               Short-term securities                        3,776,000                 
               Loans to stockholders                        292,260                   
               Investment/partnerships                      1,640,284                 
               Investment/subsidiaries                      83,000                    
               Marketable securities                        564,827                   
               Non-marketable securities                    192,700                   
               Pooled funds                                 38,250                    
               Buildings & other depreciable assets         11,286,020                
               Less accumulated depreciation                (7,636,902)               
               Deposits                                     2,365                     
               Total                                        14,012,196                
               Liabilities                                                            
               Short-term mtg., notes, bonds                1,341,617                 
               Long-term mtg., notes, bonds                 11,060,633                
               Deferred gain                                1,969,973                 
               Total                                        14,372,223                
               Net assets                                   (360,027)                 
               Capital stock                                100                       
               Retained earnings                            (360,127)                 

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