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1996 Total1 Curtis (30%)Jerry (30%) Lynn (20%) Coleen (20%)
Assets at beginning of year:
Cash $128,593 $38,578 $38,578 $25,719 $25,719
Adjusted basis of buildings and
other depreciable assets 362,698 108,809 108,809 72,540 72,540
Basis of other assets:
Farm Services stock 134,345 40,304 40,304 26,869 26,869
Unit Retains 186,834 56,050 56,050 37,367 37,367
USWP stock -- -- –- –- --
Total assets 812,470 243,741 243,741 162,495 162,495
Liabilities at beginning of year:
Short-term debt 734,576 220,373 220,373 146,915 146,915
Long-term debt 1,222,236 366,671 366,671 244,447 244,447
Total liabilities 1,956,812 587,044 587,044 391,362 391,362
Partners’ capital at beginning of year(1,144,342) (343,303) (343,303) (228,867) (228,867)
Change in liabilities:
Liabilities at beginning of year 1,956,812 587,044 587,044 391,362 391,362
Liabilities at year end 2,058,297 617,489 617,489 411,659 411,659
Increase (decrease) 101,485 30,445 30,445 20,297 20,297
Partners’ bases at beginning of year 812,470 243,741 243,741 162,495 162,495
1996 Income (as adjusted) 384,509 115,353 115,353 76,902 76,902
Contributions:
Cash/property -0- -0- -0- -0- -0-
Deemed by increase in liabilities 101,485 30,445 30,445 20,297 20,297
Partners’ bases before distributions1,298,464 389,539 389,539 259,694 259,694
Distributions:
Cash (634,830) (190,449) (190,449) (126,966) (126,966)
Deemed by reduction in liabilities -0- -0- -0- -0- -0-
Partners’ bases after distributions 663,634 199,090 199,090 132,728 132,728
1 Differences due to rounding.
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