- 3 -
valuation date, VIC had total liabilities of $2,543,000. The net
value of VIC's assets3 on the alternate valuation date equaled
the values of MVN and MVS, plus $645,000 (assets of $3,188,000
minus liabilities of $2,543,000).
(...continued)
1562 Alamo Pintado outside of Solvang 475,000
Seven Properties zoned M-1 in Santa Barbara
130 Nopalitos 140,000
126 Nopalitos 61,595
710 Kimball Street 87,785
712 Kimball Street 101,850
718 Kimball Street 101,850
713 Carpinteria Street 101,850
119 Powers Avenue 91,180
Total $2,081,110
Tangible Personalty
Equipment & cattle $195,000
Total $195,000
Investments Fair Market Value
Chevron Corp. stock $25,974
Pepsico, Inc. stock 154,319
Transamerica Corp. stock 79,463
General Motors stock 14,457
General Motors E stock 1,808
General Motors H stock 709
Western art 66,450
Total $343,180
Other Assets Fair Market Value
Cash $72,000
Accounts and notes receivable 293,000
Other current assets 151,000
Other assets 52,000
Total $568,000*
*The parties made a computational error in their stipulation. This amount
was reported as $516,000 in the stipulation, not $568,000.
3 According to the parties, net asset value is generally the
difference between assets and liabilities, where assets have been
adjusted to reflect fair market values and liabilities have been
adjusted to reflect the reality of their ultimate payment.
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