Estate of James J. Renier, Deceased, Kent L. Renier and Dubuque Bank & Trust Company, Co-Executors - Page 23

                                       - 23 -                                         
          estate or executors.  On this record, we do not believe the                 
          estate has shown that a 10-year spread of the inventory                     
          adjustment is appropriate.  We accordingly conclude that Mr.                
          Sliwoski’s treatment of the cost-of-goods-sold adjustment in                
          computing normalized income is the appropriate one.                         

Page:  Previous  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  29  30  31  32  Next