- 159 -
1986
Source of Funds:
Schedule C gross receipts $33,800
Schedule E income (rental) 1,161
Interest income 428
First Union Bank savings accounts 1,495
First Union CDs 6,856
First Union IRA-Larry 3,000
First Union IRA-Nancy 582
Trade in for Ferrari (1982) 38,300
Gifts from Frank 25,000
Credithrift mortgage ($83,684) 74,995
Credithrift mortgage ($56,346) 45,078
Ford truck (1974) 600
Total source of funds 231,295
Application of Funds:
Schedule C expenditures $23,904
Schedule E expenditures 290
First Union savings account 1,684
First Union IRA-Larry 3,000
First Union IRA-Nancy 582
Callahan Property payments 994
Sun Bank checking account 2,598
Sun Bank savings account 211
Sanford rental property 149,500
Deposit on Sanford property 10,000
Closing on Sanford property 19,427
Credithrift mortgage ($83,684) payment 6,000
Credithrift mortgage ($56,346) payment 4,041
Lamborghini purchase 52,735
GMAC note payments for Suburban 3,504
Personal living expenses for 4 persons 18,532
Total application of funds 297,002
Excess of applications over sources of funds $65,707
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