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BACAS, GATES & POTTER LIABILITIES Current Liabilities Notes payable, due within one year $14,491.36 Accounts Payable 18,240.36 Interest accrued 63.59 Taxed accrued 670.18 Total Current Liabilities $33,465.49 Long Term Debt: Notes Payable (Secured by Chattel Mortgage on Aircraft $18,988.43 Less: Amount included in Current Liabilities 14,491.36 4,497.07 Capital Stock: Preferred Stock - par value $100.00, outstanding 127 shares $12,700.00 Common stock - par value $1.00 outstanding 48,577 shares 48,577.00 Common stock - Class A, no par value, outstanding 500 shares 500.00 Total Capital Stock 61,777.00 Surplus: Deficit, January 1, 1947 $72,082.51 Operating loss year ended December 31, 1947 31,786.44 $103,868.95 Surplus: Capital Surplus January 1, 1947 $95,546.48 Common stock issued at premium 1,400.00 Warrant issued 26.00 96,972.00 Excess of operating loss over capital surplus, December 31, 1947 6,896.47 Total Liabilities and Capital $92,843.09