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Bacas, Gates & Potter

Liabilities 

Current Liabilities: 
Notes payable, due within one year $6,666.64
Accounts payable                   26,747.30
Interest accrued                       30.00
Taxes accrued                         428.75
Salaries and Wages accrued            124.00
[Line]

Total Current Liabilities                  $33,996.69

Long term debt: 
Notes payable (Secured by chattel mortgage on aircraft)                         $10,000.00
Less: Amount included in Current Liabilities 
                                    6,666.64 3,333.36
[Line]

Deferred Credits: 
Other Deferred Credits                 12.00

Capital Stock: 
Preferred stock - par value $100.00, 
outstanding 132 shares            $13,200.00
Common stock - par value $1.00,
outstanding 51,284 shares          51,284.00
Common stock - Class A, no par value, 
outstanding 500 shares                 500.00
[Line]
Total Capital stock                         64,984.00

Surplus: 
Deficit, January 1, 1948           $103,868.95
Operating loss year ended December 31, 1948 11,619.28
[Line]
                                   $115,488.23

Refund New York State Franchise Tax
prior years                         842.79
[Line]
                                    $114,645.44

Capital Surplus, January 1, 1948   $96,972.48
Common stock issued at a premium  1,360.00
Warrents issued                     100.00    98,432.48
[Line]
Excess of operating loss over capital
surplus, December 31, 1948                           16,212,96
[Line]
Total Liabilities and Capital                        $86,113.09
[Double Line]