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10/31/94 10/31/95
Financial Financial
Statement Return Statement Return
General & contract revenue $4,615,746 $4,633,752 $5,312,291 $5,443,976
Operating expenses (4,737,810) (4,876,375) (5,504,288) (5,640,193)
Income from operations (122,064) (242,623) (191,997) (196,217)
Other income/(loss) (119,795) 491,262 123,346 504,140
Net income before taxes (241,859) 248,639 (68,651) 307,923
Provision for taxes 103,921 (80,219) 54,707 (103,340)
Net income (137,938) 168,420 (13,944) 204,583
10/31/96
Financial
Statement Return
General & contract revenue $6,141,479 $6,069,677
Operating expenses (5,907,484) (6,063,715)
Income from operations 233,995 5,962
Other income/(loss) 137,722 79,668
Net income before taxes 371,717 85,630
Provision for taxes (128,588) (17,364)
Net income 243,129 68,266
Petitioner's gross receipts/sales, net earnings, and profit
before interest and taxes as reflected on its Forms 1120 and
financial statements for the years ending October 31, 1986 to
1996, were as follows:
Gross Net Profit
Receipts/Sales Income/(Loss) Before Interest & Taxes
Financial Financial Financial
Year Return Statement Return Statement Return Statement
1986 $2,108,148 $2,135,832 $76,268 $109,314 $107,882 $170,099
1987 3,359,825 3,666,642 55,890 268,228 91,505 355,062
1988 3,910,680 4,416,990 67,392 100,990 128,110 219,691
1989 4,489,866 4,423,002 105,559 290,714 274,428 564,877
1990 6,014,515 6,746,331 533,207 1,072,832 891,514 1,881,196
1991 5,581,672 5,156,266 396,465 335,049 686,366 643,943
1992 7,388,353 7,442,762 728,313 722,684 1,155,251 1,187,754
1993 5,088,511 5,090,933 334,677 77,566 558,886 289,650
1994 4,633,752 4,615,746 168,420 (137,938) 255,090 (229,787)
1995 5,443,976 5,312,291 204,583 (13,944) 340,176 (32,698)
1996 6,069,677 6,141,479 68,266 243,129 126,942 417,147
Petitioner's financial statements and the Schedules E,
Compensation of Officers, of Forms 1120 for the years ending
October 31, 1986 through 1996, reported compensation of officers
as follows:
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