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BACAS, GATES, & POTTER

ISLAND AIR FERRIES, INC.

Statement of Profit and Loss
for the year ended December 31, 1947

OPERATING REVENUES

[[3 columned table]]
| Transportation: Charter and Special | --- | $ 1,313.33 |
| --- | ---| --- |
| Other Revenues - net: | --- | --- |
| Services and sales | $30,722.13 | --- |
| Rentals from operating property | 4,545.10 | --- |
| Other incidental revenues | 7,975,73 [[7,975.73]] | 43,242.96 |
| --- | --- | --- |
| Total Operating Revenes | --- | $44,556.29 |

OPERATING EXPENSES

[[3 columned table]]
| Flying operations | $5,983.36 | ---|
| Flight equipment maintenance | 764.98 | --- |
| Depreciation - flight equipment | 11,328.68 | --- |
| --- | --- | --- |
| Total | --- | $18,077.02 |
| --- | --- | --- |
| Ground operations | $9,911.75 | --- |
| Ground equipment maintenance | 1,096.51 | --- |
| Equipment maintenance | 3,052.84 | --- |
| Passenger service | 513.29 | --- |
| Advertising and publicity | 58.92 | --- |
| General and administrative | 40,443.06 | --- |
| Depreciation - ground equipment | 699.99 | --- |
| --- | --- | --- |
Total | --- | $55,776.36 |
| --- | --- | --- |
| Total Operating Expenses | --- | 73,853.38 |
| --- | --- | --- |
| Operating Loss | --- | $29,297.09 |
| --- | --- | --- |
| Non-operating income | --- | 90.40 |
| Loss before Other Deductions | --- | $29,206.69 |
| --- | --- | --- |
| Other Deductions: | --- | --- |
| Retirement of operating propery [[property]] | $1,299.99 | --- |
| Interst paid | 1,279.76 | 2,579.75 |
| --- | --- | --- |
| Loss for the period | --- | $31,786.44 |