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628 FINANCIAL
Expenses (excluding provision for depreciation) :
Selling
Administrative and general
OPERATING PROFIT BEFORE PROVISION FOR DEPRECIATION
AND AMORTIZATION
Other income:
Royalties received
Sundry income from British affiliate
Purchase discount
Interest earned ($29,150.32) less Interest paid ($8,389.85).....
Other deductions:
Contributions to employes' retirement fund
Depreciation provisions and amortization:
Plant and equipment
Research, development, and patent costs
PROFIT BEFORE TAXES ON INCOME AND LIFE INSURANCE
EXPENSE
Federal taxes on income — estimated:
Normal tax and surtax
Excess profits tax
PROFIT BEFORE LIFE INSURANCE EXPENSE
Premiums on life insurance on President and General Manager, less increase in cash surrender value
NET PROFIT
CONSOLIDATED SURPLUS
Balance at Jan. 1, 1951
Add:
Net profit for the year
Paid-in surplus arising from sale of 3,400 shares of capital stock upon exercise of options by employes
Deduct dividends paid ($2 per share)
Balance at Dec. 31, 1951 ..—
373,854.86 1,188,447.97
15,401.20 581,171.78 186,171.80
20,760.47
389,484.14 65,317.89
3,174,163.47 850,000.00
1,918,537.24 34,000.00
1,562,302.83 $ 6,185,932.27
803,505.25
$ 6,989,437.52
576,051.73
• 454,802.03 $ 5,958,583.76
4,024,163.47
$ 1,934,420.29
15,883.05
$ 1,918,537.24
$ 4,812,326.62
1,952,537.24
$ 6,764,863.86 T, 855,406.50
$ 4,909,457.36
TWENTIETH CENTURY-FOX FILM CORPORATION and Voting-Controlled Subsidiaries
CONDENSED BALANCE SHEETS As of December 30, 1950
ASSETS:
FILM COMPANIES
CURRENT ASSETS:
Cash $ 16,478,025
United States government securities
Notes and accounts receivable, net 9,802,393
Inventories 58,295,958
Advances to outside producers 822,917
Prepaid operating expenses and supplies 487,762
TOTAL CURRENT ASSETS $ 85,887,055
INVESTMENTS AND OTHER ASSETS:
Investments in consolidated subsidiaries:
Theatre companies $ 21,625,346t
Television company 22,259
Investments in and advances to other companies not consolidated:
Metropolis & Bradford Trust Co., Ltd 4,940,400
Theatre operating and other companies 2,092,416
Miscellaneous other assets 1,471,843
$ 30,152,264
PROPERTY, PLANT AND EQUIPMENT, NET $ 13,740,413
EXCESS OF INVESTMENTS IN VOTING-CONTROLLED DOMESTIC SUBSIDIARIES OVER THE NET TANGIBLE ASSETS OF THE SUBSIDIARIES AT DATES OF ACQUISITION $
$129,779,732
THEATRE COMPANIES
$19,961,326
7,059,722
388,184
3,189,552 $30,598,784
806,002 1.158,168
$ 1,964,170
$42,253,749
$10,175,084 $84,991,787