Estate of Frank Johnson - Page 88

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                                         1988                                          
          Source of Funds:                                                             
          Schedule C gross receipts                       $12,350                      
          Gambling income                                   1,727                      
          Interest income                                      29                      
          Sun Bank savings account                          1,154                      
          Trade in for corvette (1985)                     15,000                      
          First Union Bank loan                            36,287                      
          Winnings from gambling activities 12-23-88       38,550                      
          Total source of funds                         105,097                        
          Application of Funds:                                                        
          Schedule C deductions                             5,650                      
          Sun Bank savings account                            946                      
          U.S. Savings Bonds purchases                        200                      
          Cash for gambling                                38,550                      
          Net gambling losses                               8,350                      
          Personal expenses--COMPS (1988)                   1,697                      
          Note payments for Corvette (1985)                 3,502                      
          Payoff of note for Corvette                       5,618                      
          Porsche 928 purchase (1988)                      61,287                      
          Note payments for Porsche                         4,880                      
          Withholding on gambling winnings                    345                      
          Total application of funds                    131,025                        
          Excess of applications over sources of funds    $25,928                      

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