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FINANCIAL 625
Inventories — lower of cost or market 84,130,023
Prepaid insurance, taxes, etc 6,633,277
TOTAL CURRENT ASSETS 255,993,695
INVESTMENTS IN WHOLLY-OWNED FOREIGN SUBSIDIARIES 3,593,127
OTHER INVESTMENTS, AT COST, LESS RESERVES. 1951 $14,94,372, 1950 $1,363,838 1,675,631
PLANT AND EQUIPMENT, AT COST, LESS DEPRECIATION, 1951 $76,421,492, 1950
$68,330,582 101,080,135
PATENTS AND PATENT RIGHTS, LESS AMORTIZATION, 1951 $9,285,642, 1950 $9,509,620 3,651,182
DEFERRED CHARGES 4,208,255
TOTAL ASSETS $370.202.025
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable and accruals $ 72,599,471
Federal income and excess profits taxes, less U. S. Govt, securities, 1951 $27,375,000,
1 950 $50,850,000 9,841 ,644
Dividends payable 788,239
TOTAL CURRENT LIABILITIES 83,229,354
3% PROMISSORY NOTES, DUE 1970-1974 100,000,000
STOCKHOLDERS' EQUITY:
$3.50 Cumulative First Preferred Stock, no par, shares authorized 920,300, outstanding 900,824. (preference on involuntary liquidation $100 per share or a total of $90,082,
400) at a stated value of 14,574,441
Common Stock, no par, shares authorized 18,500,000, outstanding 13,881,016, at a stated
value of 27,762,032
Capital surplus 6,651 ,703
Retained earnings 137,984,495
TOTAL STOCKHOLDERS' EQU ITY 1 86,972,67 1
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 370,202,025
CONSOLIDATED EARNINGS FOR 1951
PRODUCTS AND SERVICES SOLD $598,955,077
COST OF OPERATIONS
Wages and salaries 204,157,334
Pensions, social security taxes, insurance and other benefits 13,859,457
TOTAL EMPLOYMENT COSTS 21 8,01 6,791
MATERIALS AND SERVICES BOUGHT FROM OTHERS 300,863.768
DEPRECIATION AND PATENT AMORTIZATION 12,256,591
INTEREST ON BORROWED MONEY 2,295,198
STATE. LOCAL AND MISCELLANEOUS TAXES 3,489,997
536.922.345
PROFIT BEFORE FEDERAL TAXES ON INCOME 62.032.732
Federal income tax 32,030.000
Federal excess profits tax or carryback refund (1,190.000)
TOTAL FEDERAL TAXES ON INCOME 30,840,000
NET PROFIT FOR YEAR 31,192,732
Dividends declared on preferred stock ($3.50 per share) 3,152,920
Dividends declared on common stock ($1 per share) 13,857,388
TOTAL DIVIDENDS DECLARED 17,010,308
EARNINGS FOR YEAR RETAINED IN THE BUSINESS 14,182,424
RETAINED EARNINGS AT BEGINNING OF YEAR 123,802,071
RETAINED EARNINGS AT END OF YEAR $137,984,495
REPUBLIC PICTURES CORP. and Subsidiary Companies
CONSOLIDATED BALANCE SHEET
October 27, 1951
ASSETS:
Current assets:
Cash in banks and on hand $ 2,451,466.25
Notes, loans and accrued interest and accounts receivable, trade $ 2.716,280.42
Less reserves 358,836.95 2,357,443.47
Advances to other producers and affiliated companies recoverable from
film rentals 1 .421 .357.67