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614 FINANCIAL
CAPITAL STOCK AND SURPLUS: Capital Stock:
$4.25 cumulative preferred stock without par value — — Shares —
Authorized — 7 1,1 65 shares June 30. 1951 June 30, 1950 Outstanding 67,295
Common stock without par value — Authorized — 1 ,000,000 shares Outstanding 655,788
Capital Surplus Earned Surplus
70,865
6,729,500
655,788
1 0,492,807
134,331 12,440,573
$29,797,211
3,270 1,477
$ 144,479 1 1 ,488
$ 155.967
$29,641,244
$42,954,115
Less — Treasury Stock:
Preferred stock held for sinking fund 2,200
Common stock — 1,477
CONSOLIDATED STATEMENTS OF PROFIT AND LOSS AND EARNED SURPLUS For the Year Ended June 30, 1951
Gross income from rentals and sales of film and accessories $55,368,284
DEDUCT:
Amortization of production costs and other producers' and participants' shares 34,714,039
Cost of accessories sold 443,937
General, administrative and selling expenses 16.233,709
Taxes, other than Federal and foreign income taxes 803,376
$52,200,061
Operating profit _ $ 3,168,223
Other income (net), including interest income 346,616
$ 3,514,839 Interest expense 3 1 5,01 4
$ 3,199,825
Provision for Federal income taxes $ 1,170,000
Provision for foreign income taxes 532,01 1
$ 1,702,01
Profit for the year.. $ 1,497,814
Earned surplus at beginning of year $11,453,689
ADD:
Profit for the year 1 ,497,814
Excess of stated value over amount paid for 300 shares of $4.25 cumulative preferred stock
Reserve for contingencies, no longer required 262,308
$13,213,811
DEDUCT:
Cash Dividends:
On $4.25 cumulative preferred stock $ 282,505
On common stock ($.75 per share in 1951 and $.50 in 1950) 490,733
$ 773,238
Earned surplus at end of year, per consolidated balance sheets $12,440,573
DECCA RECORDS, Inc. and Subsidiary Companies
CONSOLIDATED BALANCE SHEET As of December 31, 1951
ASSETS
CURRENT ASSETS:
Cash $ 3,767,843.41
Trade accounts receivable $ 2.567,417.15
Other accounts and notes receivable 120,892.78
120,892.78
Less Provided for discounts and possible collection losses 224,148.61 2,464,161.32