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Fort Walton Beach Council minutes — 03-30-1982 Special — reading text
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Accumulated
1981 980 979 Common Stock Additiona Treasury Stock
Earnings
Financial resources were provided by: Shares Amount Capital Deficit) Shares Amount Total
Income before extraordinary item . . . . . . . 1, 275, 456 $ 758, 582 445
799. Balance, December 31
Add income charges not affecting working capita 1978 ............ 4. 90 523 $ 490, 52 13, 522, 454 1, 567, 587) 391 931 480)
285. 12, 159, 539
Depreciation and amortization 748, 723 683, 164 Net income for year . 2, 332. 445 2, 445
332,
Deferred income taxes . 69,000 147, 000 riginal issuance of
Working capital from operations
Extraordinary item - tax benefit resulting from utilization of
operating loss carryovers . . . . . . . . . . . .
2, 093, 179 1, 588, 746
1.common stock to
Creditors Class 6 .
of common
2, 403 24 241)
lsuance
Additions to long term notes payable. . . . 577, 611 1, 418
682,
stock from treasury for
Sales of property, plant and equipment, and real estate
Decrease in long term receivables . . . . . . . .
25, 186
420, 831
286, 321
304,672
1 stock options
ther.
7, 206 450)
29,
37
21 4,50 28, 656
Increase in commissions and other liabilities 75, 023 49, 601 Balance, December 3
Undistributed General Class Claimants Fund 211, 342 - 1979 ............ 4. 903, 926 490, 393 3, 529, 419 764, 858 362. 518 264, 030) 4, 520, 640
Decrease in other assets . . . . . . . . . . . . . 242, 064 - Net income for year . 758, 582 758, 582
Proceeds from exercise of stock options 136, 594 83, 961 28, 656 Original issuance of
Tota 3, 781, 830 3, 995, 719 6, 507, 364 common stock to
Financial resources were used for: Creditors Class 6 . 213 21 21)
Issuance of common
Payments on long term notes payable . . 1, 131, 284 521, 515 1, 050,003
stock from treasury for
Additions to property, plant and equipment, and real estate 869, 375 2, 126, 108 1, 229, 484
stock options. . . . . 27, 829 77, 060) 56 132 83, 961
Addition to long term receivables . . . . . . . . . . 223, 367 709, 500
Decrease in commissions and other liabilities 321, 860 - Balance, December 3
Other - net ....... 9, 455 124, 348 81, 154 1980 ............ 4, 904. 139 490, 414 13, 557, 227 523, 440 285, 458 207, 898) 5, 363, 183
456
Net income for year . 275, 1. 275, 456
Total..... . 2, 331, 974 2, 995, 338 3,070, 141
Undistributed General
Increase n working capita 1, 449, 856 $ 1, 000, 38 3, 437. 223 Class Claimants Fund
at March 21, 1981 211 342 211 342
ANALYSIS OF CHANGES IN WORKING CAPITAL Original issuance of
common stock to
Increase ( decrease) in current assets:
Creditors Class 6 . 228 23 23)
Cash.............. . 210, 679 $ 64, 837 $ 48, 295
Issuance of common
Certificates of deposit 377, 525 800, 509) 900, 306
stock from treasury for
Receivables. . . . 2, 113, 525 1, 539, 780 ( 406, 957)
Un billed revenue stock options. . . . . 61, 267 103, 416) 75, 327 36, 594
504, 229 1 , 035, 384 1 , 671 , 111
Inventories 106, 245 473, 518) 749, 640 Balance, December 3
Other. . . 59,947) 47, 198 422
252,
1981 4, 904, 367 $ 490. 437 $ 13, 829, 813 2, 798, 896 82, 042 132, 571) 16, 986. 575
Tota 3, 252, 256 413,
1, 172 3, 214, 817
Decrease ( increase) n current iabilities
Notes payable. 772, 830 2, 068, 695) 1, 098, 665 The accompanying notes are an integral part of these consolidated financial statements.
Bank acceptances 257, 000) 1, 251, 000 964, 000)