e eight-percent.
Part I [100 Percent Equity From Parent]
Pro-Forma Balance Sheets _______________Year_________________
Item _Beginning __First___ __Second__
Cash 6,000,000 733,200 1,000,000
Securities 5,240,000 7,188,828
Receivable 1,200,000 1,700,000
Inventories 1,400,000 2,000,000
Land 3,000,000 3,000,000 3,000,000
Building 17,000,000 17,000,000 17,000,000
(Res. Depr. - 340,000 - 680,000
Equipment 12,000,000 12,000,000 12,000,000
(Res. Depr.) __________ - 1,200,000 - 2,400,000
Total 38,000,000 39,033,200 40,808,828
Retained Earn. 1,033,200 2,808,828
Common Stock 38,000,000 38,000,000 38,000,000
Total Equity 38,000,000 39,033,200 40,808,828
Total Lia. & Eq. 38,000,000 39,033,200 40,808,828
Pro-Forma Balance Sheets _______________Year_________________
Item ___Third __Fourth__ __Fifth __
Cash 1,100,000 1,100,000 1,100,000
Securities 10,255,662 13,878,710 17,568,972
Receivable 1,900,000 1,900,000 1,900,000
Inventories 2,200,000 2,200,000 2,200,000
Land 3,000,000 3,000,000 3,000,000
Building 17,000,000 17,000,000 17,000,000
(Res. Depr. - 1,020,000 - 1,360,000 - 1,700,000
Equipment 12,000,000 12,000,000 12,000,000
(Res. Depr.) -_3,600,000 - 4,800,
...