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FINANCIAL 623
Profits applicable to minority holders of stocks of subsidiary companies 962,093
Foreign exchange adjustments (net) (256,081 )
United States and Canadian taxes on income 5,575,392
$ 8,602,447
PROFIT FOR THE YEAR $ 5,459.273
CONSOLIDATED SURPLUS ACCOUNTS
Capital Earned
At Dec. 30, 1950 $ 69,112,896 $ 1,032.400
Profit for the year 5.459.273
Dividends (cash) on common stock — $2 per share (4,624,364)
Cost in excess of par value of 342,694 shares of common stock retired, and
117 single shares of stock of Paramount Pictures Inc (6,989,114)
Proceeds in excess of par value of 40,000 shares of common stock issued on
exercise of option warrants 460,000
Proceeds from termination of rights of stockholders to exchange old shares for
966 shares and accumulated dividends and claims 24,696
At Dec. 29, 1951 $ 62,608.478 $ 1.869.241
UNITED PARAMOUNT THEATRES, Inc.
CONSOLIDATED BALANCE SHEET For Year Ended December 30, 1950
ASSETS:
CURRENT ASSETS:
Cash $ 17,129,114
United States government securities 6,439,644
Notes and accounts receivable, less reserves:
Notes receivable from disposal of theatre interests in 1950 380,181
Affiliated companies 394,997
Officers and employees 54,527
Other notes and accounts 1 ,507,076
Inventory of merchandise and supplies, at cost or less 1.436,355
Total current assets $ 24,341 ,894
INVESTMENTS, LESS RESERVES:
Affiliated companies:
Capital stocks $ 2,1 61 .245
Advances 836.1 16
Notes receivable from disposal of theatre interests in 1950, due after one year 1,048.391
Other notes and accounts due after one year 501.230
Miscellaneous 1,025,791
$ 5,572,773 FIXED ASSETS:
Land $ 20,856,494
Buildings, equipment and leaseholds 94.680.23 1
Less — Reserves for depreciation and amortization 47,124.924
$ 68,411,801
OTHER ASSETS:
Deposits to secure contracts $ 1.056,892
Proceeds of Loan Agreement applied in January 1951 to extinguish other debt (per contra) 2.057,688
Prepaid expenses and deferred charges 2,290.355
$ 5.404,935
$106,731.403
LIABILITIES AND CAPITAL:
CURRENT LIABILITIES:
Notes issued under Loan Agreement $ 875.000
Accounts payable and accrued expenses 7.068,902
Owing to affiliated companies 253,958
Federal taxes on income, estimated (less $4,613,513 U. S. Treasury tax notes;
1949— $5,187,000) 4.024.822
Notes and mortgages of subsidiary companies 67,910
TOTAL CURRENT LIABILITIES $ 12.290.592
FUNDED DEBT DUE AFTER ONE YEAR:
Notes issued under Loan Agreement 34.125,000
Notes and mortgages of subsidiary companies 1.379.237