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616 FINANCIAL
Scenarios and story rights, at cost 778,272
Film stock, supplies, etc., at cost 169,230
$ 9,726,031
Less — Provision for possible excess of cost over estimated realizable amounts. 1,000,000
Total inventories $ 8,726,03 1
Total current and working assets $ 9,239,509
OTHER ASSETS:
Cash surrender value of insurance on life of officer... $ 51,293
Investments in foreign subsidiaries not consolidated, less amortization 11,803
$ 63.096
CAPITAL ASSETS:
Land, buildings and equipment, at cost .. $ 4,589,165
Less — Depreciation 2,885,107
$ 1,704,058
DEFERRED CHARGES $ 96,1 88
$11,102,851
LIABILITIES . ■
CURRENT LIABILITIES:'
Notes payable $ 2,1 10,637
Accounts payable and accrued expenses 1,173,642
Advances under contracts 5,954
Property, social security and other taxes 247,602
Estimated taxes on income 555,666
Total current liabilities $ 4,093,501
UNEARNED DEPOSITS $ 451 ,732
LONG TERM LIABILITIES:
4% debentures. Series A, due July 1, 1960 5 660,210
2% loans, due serially to December 31, 1957 57,085
$ 717,295 STOCKHOLDERS EQUITY:
Capital Stock —
Common, $5 par value —
Authorized 1 ,000,000 shares
Issued and outstanding 652,840 shares : $ 3,264,200
Other paid in capital 969,538
Earnings subsequent to September 30, 1944 retained in the business 1,606,585
$ 5,840,323 $1 1,102,851
CONSOLIDATED STATEMENT OF INCOME ACCOUNT For the Year Ended September 29, 1951
INCOME:
Film rental income, producer's share —
Feature pictures $ 2,907,291
Short subjects 1 .005,1 83
Income from publications, comic strips, licensing cartoon characters, music, etc 2,375,065
TOTAL I NCOME $ 6,287,539
COSTS AND EXPENSES:
Amortization of picture costs —
Feature pictures $ 2,378, 1 40
Short subjects 620 236
Costs applicable to other income 1,231,701
General, administrative and selling expenses 1,217,253
Interest expense 1 32,1 05
Cost of stories abandoned 71 ,264
Estimated federal taxes on income 207,000
TOTAL COSTS AND EXPENSES $ 5,857,699
PROFIT FOR THE YEAR $ 429,840
STATEMENT OF EARNINGS RETAINED IN THE BLUSINESS For the Year Ended September 29, 1951
Balance at beginning of year $ 1,180,660
Add (deduct) —
Profit for the year 429,840
Dividends declared on preferred stock (3,915)
Balance at end of year $ 1,606,585