- 36 -
expense--general partner" in the amount of zero during
1983, $7,147 during 1984, and $10,459 during 1985. Three
of the quarterly statements contain the following note or
words of similar import:
Interest Expense--GP:
Cash advances by the General Partner necessary to
sustain operations of the partnership continued
to be greater than budget resulting in additional
interest expense.
The quarterly statements also record "interest income--
general partner" during this period of $2,219.83, $90, and
zero, respectively.
The record also contains audited financial statements
of EX 83-XII for the years ended December 31, 1983 and
1984, that were prepared by a firm of certified public
accountants. Included in those financial statements is the
following statement of operations and changes in partners'
capital:
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