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-10- [[underlined]]STATEMENT OF ASSETS & LIABILITIES:-[[/underlined]] DECEMBER 31ST, 1952 =================== [[underlined]]ASSETS[[/underlined]] BANK BALANCE AT CLOSE OF YEAR ............| $ 4830.75 ACCOUNTS RECEIVABLE: Pending Canadian Certifications...........| $ 53.85 (collected) Membership Dues ..........................| $ 509.90 (collected) Membership Dues (Fair)....................| $ 162.50 (About $225.00 in doubtful dues accounts excluded for the purpose of this statement)| ------ OFFICE FURNITURE AND EQUIPMENT....$559.66 | LESS RESERVE FOR DEPRECIATION.... $182.68 | $ 376.98 | [[line]] TOTAL.........| $ 5933.98 LIABILITIES ACCOUNTS PAYABLE (all paid since Jan.1st)... $ 525.66 | [[underlined]]PREPAID MEMBERSHIP DUES[[/underlined]] APPLICABLE TO 1953 ACCOUNT...... $ 422.88 | [[line]] | TOTAL..................| $ 948.54 | [[line]] NET WORTH ............| $ 4985.44 | [[double line]] Approved budget for 1952 exclusive of Canadian certifications...... $ 5319.00 * Budgeted expenses in excess.. $ 114.38 [[line]] TOTAL $ 5433.38 [[line]] * Based approximately on anticipated income, exclusive of Canadian certifications. ERIC SHRUBSOLE TREASURER By J.P. Montllor Executive Secretary