Estate of Frank Johnson - Page 70




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               1Our revisions to Larry’s source and application of funds               
          analysis for this year indicates an excess application of funds              
          of $65,707.  See Appendix L.  Respondent’s Appendix 5 (Frank)                
          uses $39,723 for gifts to Larry for this year even though                    
          respondent shows an excess application of funds for Larry on his             
          source and application of funds analysis for 1986 of $69,150.                
          See Appendices A and E.  We use $39,723 for our revisions to                 
          Frank and Katherine’s source and application of funds analysis               
          for 1986 because, on the basis of Joint Finding of Fact No. 4, we            
          deem the lower amount to be a concession by respondent that such             
          amount is the proper amount to use.                                          
                                         1987                                          
          Source of Funds:                                                             
          Social Security--Frank                           $2,686                      
          Social Security--Katherine                        2,770                      
          Interest income                                   1,040                      
          Freedom S&L #3058417                              4,534                      
          Freedom S&L CD #4006814                           8,113                      
          Total source of funds                          19,143                        
          Application of Funds:                                                        
          Freedom Savings Bank #3058417                     4,545                      
          Freedom Savings Bank CD #4006814                  9,154                      
          Gifts to Larry                                   78,370                      
          Gifts to Ronnie                                  42,068                      
          Gifts to Sylvia                                  10,264                      
          Personal living expenses for 4 persons           20,045                      
          Total application of funds                    164,446                        
          Excess of applications over sources of funds   $145,303                      
                                         1988                                          
          Source of Funds:                                                             
          Social Security--Frank                           $2,793                      
          Social Security--Katherine                        3,670                      
          Interest income                                   1,438                      
          Freedom S&L #3058417                              4,545                      
          Freedom S&L CD #4006814                           9,154                      
          Trade in for Suburban                             2,500                      
          Total source of funds                          24,100                        










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