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1997 Total1 Curtis (30%) Jerry (30%) Lynn (20%) Coleen (20%)
Assets at beginning year:
Cash $85,057 $25,517 $25,517 $17,011 $17,011
Adjusted basis of buildings and
other depreciable assets 267,828 80,348 80,348 53,566 53,566
Basis of other assets:
Farm Services stock 137,815 41,345 41,345 27,563 27,563
Unit Retains 172,934 51,880 51,880 34,587 34,587
USWP stock -- -- -- -- --
Total assets 663,634 199,090 199,090 132,727 132,727
Liabilities:
Short-term debt 988,477 296,543 296,543 197,695 197,695
Long-term debt 1,069,820 320,946 320,946 213,964 213,964
Total liabilities 2,058,297 617,489 617,489 411,659 411,659
Partners’ capital at beginning of year(1,394,663) (418,399) (418,399) (278,933) (278,933)
Change in liabilities:
Liabilities at beginning of year 2,058,297 617,489 617,489 411,659 411,659
Liabilities at year end 2,422,268 726,680 726,680 484,454 484,454
Increase (decrease) 363,971 109,191 109,191 72,795 72,795
Partners’ bases at beginning of year 663,634 199,090 199,090 132,728 132,728
1997 Income (as adjusted) 260,450 78,135 78,135 52,090 52,090
Contributions:
Cash/property -0- -0- -0- -0- -0-
Deemed by increase in liabilities 363,971 109,191 109,191 72,795 72,795
Partners’ bases before distributions1,288,058 386,416 386,416 257,613 257,613
Distributions:
Cash (458,488) (137,546) (137,546) (91,698) (91,698)
Deemed by reduction in liabilities -0- -0- -0- -0- -0-
Partners’ bases after distributions 829,570 248,870 248,870 165,915 165,915
1 Differences due to rounding.
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