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612 FINANCIAL
COLUMBIA BROADCASTING SYSTEM and Domestic Subsidiaries
CONSOLIDATED BALANCE SHEET December 29, 1951
ASSETS
CURRENT ASSETS:
Cash in banks and on hand $ 12,035,020
United States Government securities, at cost and accrued interest — 19,196,574
Notes and accounts receivable, less reserve for doubtful accounts, Dec. 29, 1951 —
$313,733, Dec. 30, 1950 — $104,044 21,051,783
Inventories, at cost or market, whichever was lower 11,289,110
Total Current Assets $ 63,572,487
OTHER INVESTMENTS, ADVANCES AND RECEIVABLES:
Investment in and advances to wholly owned foreign subsidiary $ 459,812
Investments (minority interests) in and advances to radio and television stations, less
reserve of $605,000 at Dec. 30, 1950 80,920
Miscellaneous investments 446,337
Estimated federal excess profits tax refundable 538,000
Noncurrent receivables, deposits, etc 955,380
$ 2,480,449
PREPAID INSURANCE, TAXES, RENTS, ETC $ 1,163,226
FIXED ASSETS, at cost:
Land $ 4,037,809
Buildings, equipment and leasehold improvements 34,238,337
38,276,146 Less — Reserves for depreciation and amortization 11,342,755
DEFERRED CHARGES $ 2,457,1 51
TALENT CONTRACTS, PROGRAM RIGHTS, SCRIPTS, ETC., less amortization $ 2,288,291
GOODVi/ILL $ 2,586,814
$101,481,809
LIABILITIES AND CAPITAL
CURRENT LIABILITIES:
Accounts payable and sundry accruals $ 19,013,453
Provision for federal taxes on income, less United States Treasury notes, tax series, at cost
and accrued interest of $4,635,678 at Dec. 30, 1950 11,111,163
Mortgages and mortgage installments due within one year 159,732
TOTAL CURRENT LIABILITIES $ 30,284,348
AMOUNTS DUE AFTER ONE YEAR:
Notes payable, due 1957 through 1971 $ 25,000,000
Mortgages 1 ,1 51 ,91 3
Other 408,271
$ 26,560,184
CAPITAL STOCK AND SURPLUS:
Capital stock, par value $2.50 per share, authorized 1,500,000 shares each of Class A and Class B; issued, Dec. 29, 1951 — 1,268,700 shares of Class A and 1,069,196 shares of Class B (including shares reserved for conversion of outstanding scrip certificates), Dec.
30, 1950 — 961,278 shares of Class A and 948,674 shares of Class B $ 5,844,740
Capital surplus 3,758,269
Earned surplus ! 35,034,268
$ 44,637,277
$101,481,809
CONSOLIDATED STATEMENT OF INCOME AND EARNED SURPLUS
For the Fiscal Year Ended December 29, 1951
GROSS INCOME $175,695,587
Less — Discounts, agency commissions and returns 46,005,040
$129,690,547 Deduct:
Operating expenses and cost of goods sold '. $ 88,817,505
Selling, general and administrative expenses 25,463,593
Provision for depreciation and amortization of fixed assets 1,989,041
$116,270,139
$ 13,420,408 Other Income — Purchase discounts, rents, royalties and miscellaneous, net 565,634
13,986,042