Louis J. Novak - Page 3




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          1997, petitioner received the following wage income from                    
          University Radiologists:                                                    
                           Year               Wages                                   
                           1986         $156,461                                      
                           1987         278,749                                       
                           1988         218,365                                       
                           1989         232,952                                       
                           1990         232,715                                       
                           1991         207,880                                       
                           1992         183,496                                       
                           1993         188,496                                       
                           1994         217,925                                       
                           1995         223,957                                       
                           1996         230,209                                       
                           1997            219,400                                    
                           Total         2,590,605                                    
               Petitioner owned University Imaging, Inc., an S corporation,           
          from 1988 through 1997.  During the years in issue, he reported             
          the following income from University Imaging:                               

                           Year               Income                                  
                           1993              $17,252                                  
                           1994              18,850                                   
                           1995               23,795                                  
                           Total             59,897                                   
               Petitioner first worked on a horse farm and learned how to             
          ride horses while in high school.  Petitioner developed a                   
          fondness for horses but was unable to engage in horse-related               
          activities while he was in college.3  After college, petitioner             





               3Petitioner testified that while he was in college, his                
          friends sent him little bags of horse manure so that he could               
          “smell the horses”.                                                         




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