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FINANCIAL 621
STATEMENT OF CONSOLIDATED PROFIT AND LOSS AND DEFICIT For the Year Ended June 30, 1951
INCOME:
Film rentals —
United States (including sales of certain television rights) $7,434,777
Canada 233,638
United Kingdom 459,144
Other foreign 1,089,149
$9,216,708 Profit from sale of accessories, prints, etc 95,206
$9,31 1.914 EXPENSES:
Amortization of film costs $3,662,683
Participation of outside producers 1,822,470
$5,485,153
Selling, administrative and general expenses, including $55,093 depreciation 2,665,239
Interest (net) , 99,874
8,250,266
PROFIT FOR THE YEAR (no provision required for federal income taxes because
of loss carry over) $1 ,061 ,648
DEFICIT at July 1, 1950 1,104,826
DEFICIT at June 30, 1951, accumulated since June 29, 1940 $ 43,178
OPERATIONS (BEFORE AUDIT) FOR 26 WEEKS ENDED DECEMBER 29, 1951
Cross income from film rentals, television, sales of accessories, etc $ 4,330,861
Costs and expenses:
Amortization of released productions 1 ,883,736
Participation of outside producers .— 773,545
Selling, administrative and general expenses 1,399,242
Interest expense 38,756
Total $ 4,095,279
Profit for the period $ 235,582
PARAMOUNT PICTURES CORPORATION
CONSOLIDATED BALANCE SHEET
For Year Ended December 29, 1951
ASSETS: CURRENT ASSETS:
Cash (including call loans of $3,802,400; 1950 — $3,318,200) $ 16.425,500
Marketable securities, at cost (market value Dec. 29, 1951 — $2,208,700) 2,315,935
Notes and accounts receivable, less reserves:
Film customers and sundries 4,801,854
Affiliated companies 7 1 0,099
Officers and employees 75,1 68
Advances to outside producers (recoverable from film rentals) 3,210,056
Inventory:
Released productions, at cost less amortization 9,201,835
Completed productions not released, at cost 22,064,447
Productions in process of completion, at cost 8,819,258
Scenarios and other costs applicable to future productions 2,716,250
Rights to plays, at cost or less 735,959
Merchandise and supplies, at cost or less 1,263,339
Total inventory $ 44,801 ,088
TOTAL CURRENT ASSETS $ 72.339,700
INVESTMENTS, LESS RESERVES:
Affiliated companies — capital stocks and receivables ■. $ 3,796,209
Wholly owned foreign subsidiary companies not consolidated — investments and receivables 6,238,185
Allen B. DuMont Laboratories, Inc. common stock (560,000 shares Class B and 43,200
shares Class A) 1 64,000
Notes and accounts due after one year 1,053,133
Miscellaneous 57,180
S 1 1 ,308,707