![Transcription Center logo](/themes/custom/tc_theme/assets/image/logo.png)
This transcription has been completed. Contact us with corrections.
COLONIAL AIRLINES, INC. STATEMENT OF INCOME AND EARNED SURPLUS (DEFICIT) FOR THE YEAR ENDED DECEMBER 31, 1948 OPERATING REVENUE: Passenger.................................................... $3,471,150 Mail (Note 1)................................................ 1,407,543 Express and miscellaneous.................................... 115,141 __________ Total operating revenue................................ $4,993,834 OPERATING EXPENSES: Flying operations............................................ $1,055,033 Ground operations............................................ 629,469 Maintenance and repairs (Note 3)............................. 1,106,766 Provision for obsolescence, depreciation and amortization.... 510,966 Passenger service............................................ 391,947 Traffic, sales and advertising............................... 832,966 Taxes, other than gasoline and oil........................... 50,196 General and administrative................................... 528,017 Amortization of preoperational expenses...................... 78,365 _________ Total operating expenses............................... 5,183,725 _________ LOSS FROM OPERATIONS......................................... $(189,891) OTHER INCOME: Net profit on disposal of aircraft and other flight equipment. $ 1,224 Other (net)................................................... 1,292 2,516 ________ _________ $(187,375) OTHER DEDUCTIONS: Extension and development expenses............................ $ 63,556 Interest (net)................................................ 10,099 73,655 _________ _________ NET LOSS FOR THE YEAR (NOTE 1)................................ $(261,030) EARNED SURPLUS (DEFICIT) SINCE DECEMBER 31,1934, AT BEGINNING OF YEAR........................................... $(1,420,312) RETROACTIVE INCREASE IN TEMPORARY MAIL RATE FOR THE PERIOD FROM APRIL 15, 1946 TO DECEMBER 31,1947 (Note 1)............ 648,794 (771,518) ___________ _________ EARNED SURPLUS (DEFICIT) SINCE DECEMBER 31,1934, AT END OF YEAR (Note 1)............................................... $(1,032,548) ___________ ___________ Reference is made to notes to financial statements. 10