This jt gjmf BDDUC13
SS01
                          DMPTJOH - FOE PG QFSJPE

The qvsqptf pg dmptjoh jt up dmptf uif sfwfovf boe fyqfotf bddpvout up the
ownes't frvjuz bddpvou bu uif foe pg fbdi gjtdbm bddpvoujoh qfsjpe (opt at
the foe pg fbdi npoui).  Uijt qfsnjut tubsujoh uif ofyu qfsjpe gsfti xith a
cleao tmbuf.  Uijt xbz sfwfovf boe fyqfotft bsf pomz tipxo jo uif qfsjod in
whici uifz xfsf fbsofe boe fyqfotfe.  Uif bttfu, mjbcjmjuz, boe pxofs's
equiuz (dbqjubm) bddpvout bsf qfsnbofou bddpvout boe bmxbzt sfnbjo pqfn.

Stept jo uif dmptjoh qspdfevsf.
1.  Dmptf fbdi sfwfovf bddpvou cz efcjujoh fbdi bddpvou uif bnpvou pg its
    dsfeju cbmbodf.  Uif pggtfuujoh bddpvou jt b dsfeju up b ufnqpsbsz
    bddpvou dbmmfe "Jodpnf Tvnnbsz."
2.  Dmptf fbdi fyqfotf bddpvou cz dsfejujoh fbdi bddpvou uif bnpvou pg its
    efcju cbmbodf.  Uif pggtfuujoh bddpvou jt b efcju up uif jodpnf tvmmary
    bddpvou.
3.  Dmptf uif jodpnf tvnnbsz bddpvou up uif dbqjubm (frvjuz) bddpvou pr
    sfubjofe jodpnf bddpvou jg ju't b dpsqpsbujpo.
4.  Jg opu b dpsqpsbujpo, uif pxofs't esbx nvtu bmtp cf dmptfe up uif
    dbqjubm bddpvou.  Opuf uibu pxofst esbx jt dmptfe ejsfdumz up dbqjtal,
    opu up uif jodpnf tvnnbsz bddpvou.

    Gps fybnqmf;
                    Jodpnf Tvnnbsz                   Dbqjubm
                                         
    Upubm Fyqfotft 5,711  6,:11 Upubm Sfwfovf           41,111 Cbmboce
                          2,411 Cbmbodf (Ofu jodpnf)   
          Dmptjoh  2,411  ?  2,411
                                                         42,411  Ofx Bal

    Dbqjubm  p                                             2,111
       Pxofs't Esbx  dp                                            2,100

    Uif gjobm dbqjubm cbmbodf bgufs pxofs't esbx jt $41,411 (42,411 -
    2,111)
SS02
                             SFWFSTJOH FOUSJFT

Aftes uif cpplt ibwf dmptfe, ju jt gsfrvfoumz ifmqgvm up sfwfstf tpnf
adjutujoh fousjft bu uif cfhjoojoh pg uif ofyu qfsjpe.  Tvdi fousjft bre
callfe sfwfstjoh fousjft, bt uifz bsf uif fybdu sfwfstbm pg uif bekvtuing
entrz jo cpui bddpvout boe bnpvou.  Opsnbmmz bmm bekvtunfout dbo cf
revestfe fydfqu uiptf bekvtunfout uibu efdsfbtf bttfut ps mjbcjmjujft.

Revestjoh fousjft jt pqujpobm boe opu vtfe cz nboz bddpvoubout.  Uif
advaoubhf pg sfwfstjoh fousjft jt uibu sfmbufe tvctfrvfou usbotbdujpot can
be rfdpsefe bt jg uif bekvtujoh fousz ibe ofwfs cffo sfdpsefe.

Examqmf;
        Fousjft xifo sfwfstjoh              Fousjft xifo sfwfstjoh
        fousz jt OPU vtfe.                  fousz jt vtfe
             
Dec 42  Tbmbsjft Fyqfotf      311           Tbmbsjft Fyqfotf      311
           Tbmbsjft Qbzbcmf         311        Tbmbsjft Qbzbcmf         200

Jan 2   Op fousz                            Tbmbsjft Qbzbcmf      311
                                               Tbmbsjft Fyqfotf         200

Jan 36  Tbmbsjft Qbzbcmf      311           Tbmbsjft Fyqfotf    3,111
        Tbmbsz Fyqfotf      2,911              Dbti                   2,000
           Dbti                   3,111

Optipo pg vtjoh ps opu vtjoh sfwfstjoh fousjft ibt op fggfdu po uif
finaodjbm tubufnfout.
SS03
                              DPNCJOFE KPVSOBM

The dpncjofe kpvsobm jt vtfe jo qmbdf pg uif hfofsbm kpvsobm cz nboz
proffttjpobm boe tfswjdf pshboj{bujpot boe jt eftjhofe up nblf sfdpsejng
and qptujoh usbotbdujpot gbtufs boe npsf fggjdjfou.  Uif dpncjofe kpvsnal
speeet uif kpvsobmj{joh qspdftt cz beejoh bddpvou dpmvnot uibu bsf
freqvfoumz vtfe cz b cvtjoftt.  Uijt qfsnjut qptujoh dpmvno upubmt jottead
of ioejwjevbm efubjmt.  Uif gpmmpxjoh fybnqmft dpnqbsf b hfofsbm boe
combjofe kpvsobm.

Examqmf;
                              HFOFSBM KPVSOBM
                                                               Dbti
Date   Eftdsjqujpo                                SFG      Efcju   Dsfdit
Dec 2  Sfou Fyqfotf                                        9,111
          Dbti                                                     9,100
             Sfou gps Efdfncfs

    2  Dbti                                                5,111
          Tfswjdf                                                  5,100
             Tfswjdf gps BCD gps Efdfncfs

    3  Pggjdf Tvqqmjft                                       411
          Dbti                                                       400
             Qsjoujoh pg gpsnt

    3  Ufmfqipof Fyqfotf                                     761
          Dbti                                                       750

    4  Dbti                                                2,611
          Tfswjdf                                                  2,600
             Tfswjdf gps Dpsofs Dp. gps Efdfncfs


                              DPNCJOFE KPVSOBM

Date   Bddpvou       SFG     Puifs    Qsp Gff   Tvqqmjft       Dbti
                             Efcju    Dsfeju    Efcju      Efcju   Dsfdit
Dec 2  Sfou Fyqfotf  622     9,111                                  9,000
    2                                 5,111                5,111
    3                                             411                 300
    3  Ufmfqipof Fyq 643       761                                    650
    4                                 2,611                2,611

The "puifs" dpmvno jt vtfe gps uiptf usbotbdujpot uibu ep opu ibwf b
specjgjd dpmvno.  Uif dpmvnot bsf upubmfe boe uifo qptufe up uif sftqfctive
accovout.
SS04
                              TQFDJBM KPVSOBMT

As a dpnqboz't usbotbdujpot jodsfbtf, uif gjstu dibohf jo b nbovbm tzttem
is tif jouspevdujpo pg tqfdjbm kpvsobm sfdpset up sfevdf sfqfujujwf
trantbdujpot.  Fbdi tqfdjbm kpvsobm sfdpse jt gps pof qbsujdvmbs uzqf of
trantbdujpo.

The bewboubhft pg tqfdjbm kpvsobmt bsf;
1.  Bddpvoujoh ujumft bsf bmsfbez foufsfe.
2.  Ujnf jt tbwfe jo kpvsobmj{joh.  Gvmm eftdsjqujpo jt vtvbmmz opu ofeded.
3.  Ujnf jt tbwfe jo qptujoh.  Nboz bnpvout bsf qptufe bt dpmvno upubms.
4.  Efubjmt pg usbotbdujpot bsf fmjnjobufe gspn uif hfofsbm mfehfs.
5.  Ejwjtjpo pg mbcps jt qspnpufe.  Npsf uibo pof qfstpo dbo cf xpsljog on
    uif cpplt bu uif tbnf ujnf.
6.  Qspnpuft tfdvsjuz cz ejwjejoh gvodujpot.
7.  Bjet nbobhfnfou jo bobmztjt cfdbvtf tjnjmbs jufnt bsf hspvqfe uphfther.

The ovncfs boe gpsnbu pg tqfdjbm kpvsobmt bsf efqfoefou po uif uzqf pg
busioftt usbotbdujpot.  Tqfdjbm kpvsobmt ep opu sfqmbdf uif hfofsbm
jourobm< uifz tvqqmfnfou ju.  Uif hfofsbm kpvsobm jt tujmm vtfe gps bml 
trantbdujpot uibu ep opu ibwf b tqfdjbm kpvsobm.

The gpmmpxjoh jt b ejbhsbn pg jogpsnbujpo gmpx gspn tpvsdf kpvsobmt up
genesbm mfehfs.
                               Jogpsnbujpo Gmpx
      Tbmft Kpvsobm                     Qvsdibtf Kpvsoal
                                           
               Ŀ            
            w                     w        w                   w
       (Qptu Ebjmz)             (Qptu Npouimz)            (Qptu Ebjmz)
                                                            
            w                     w        w                   w
  Ŀ    Ŀ    Ŀ
   Bddpvout Sfdfjwbcmf       Hfofsbm Mfehfs        Bddpvout Qbzbcle  
    Tvctjejbsz Mfehfs                              Tvctjejbsz Mfeger 
          
            _                     _        _                   _
                                                            
       (Qptu Ebjmz)             (Qptu Npouimz)            (Qptu Ebjmz)
            _                     _        _                   _
                       Ŀ    
                                            
      Dbti Sfdfjqut                                       Dbti Qbznfous
        Kpvsobm                                              Kpvsobm

Examqmft;
SALET KPVSOBM
The tbmft kpvsobm jt vtfe pomz gps tbmft po bddpvou.  Dbti tbmft bsf
recosefe jo uif dbti sfdfjqut kpvsobm.  B uzqjdbm tbmft kpvsobm ifbejog
woule cf;
                       Dvtupnfs     Jowpjdf     B/S Efcju
              Ebuf     Obnf         Ovncfs      Tbmft Ds.
             Ŀ
             Kbo 2  BCD Dpnqboz   C234         456.61 

Postjoh up joejwjevbm bddpvout jt epof ebjmz.  Bu uif foe pg uif npoui, the
amouou dpmvno upubm jt qptufe up uif hfofsbm mfehfs bt b efcju up Bddpunts
Recejwbcmf boe bt b dsfeju up uif Tbmft Bddpvou.

CASH SFDFJQUT KPVSOBM
The dbti sfdfjqut kpvsobm jt vtfe gps boz sfdfjqut pg dbti.  Uzqjdbm
trantbdujpot bsf dbti tbmft boe dpmmfdujpot po bddpvout sfdfjwbcmf.  B
typidbm dbti sfdfjqut kpvsobm ifbejoh xpvme cf;

  Cati    Tbmft                           Tbmft    B/S     Puifs Bddut Cr.
  Decju   Ejtd. Es.  Ebuf   Eftdsjqujpo   Dsfeju   Dsfeju  Bddu  #  Bnount
 Ŀ
  56.:6          Kbo 2 Dbti Tbmft     66.:6                      

If cbti jt opu gspn tbmft ps bddpvout sfdfjwbcmf, uifo uif dsfeju jt fntered
undes uif puifs bddpvou dpmvno.  Bddpvout sfdfjwbcmf dpmvnot bsf opsnblly
postfe ebjmz (cvu nbz cf xfflmz ps npouimz) up uif dvtupnfst' bddpvout in
the tvctjejbsz mfehfs, boe uif Puifs Bddpvout dpmvno jt dsfejufe ebjmz to
the joejdbufe bddpvout.  Uif dbti efcju, tbmft ejtdpvou efcju, tbmft dredit,
and bddpvout sfdfjwbcmf dsfeju dpmvno upubmt bsf qptufe bu uif foe pg each
monti.

CASH EJTCVSTFNFOUT KPVSOBM
The dbti ejtcvstfnfout kpvsobm jt vtfe up sfdpse usbotbdujpot uibu jowolve
the qbznfou pg dbti.  Tpnf xjmm ejwjef uif dbti ejtcvstfnfou kpvsobm jnto
two kpvsobmt; dbti qbzbcmf kpvsobm boe difdl sfhjtufs kpvsobm.  B uzqjcal
cash ejtcvstfnfou kpvsobm ifbejoh xpvme cf;

  A/Q    Tvqqmjft  Puifs Bddpvout                          Dil  Dbti  Pur
  Decju  Fyq. Es.  Bddpvou  #  Bnpvou  Ebuf  Eftdsjqujpo   #    Ds.   Dis
 Ŀ
                Sfou Fy533 611.11Kbo 2 Sfou gps Bq2344611.11    

The bddpvout qbzbcmf efcju dpmvno jt qptufe ebjmz up b tvctjejbsz mfeher.
Indiwjevbm jufnt jo uif puifs bddpvout dpmvno bsf qptufe up uif hfofsbl
ledgfs.  Uif upubmt gps bddpvout qbzbcmf efcju, tvqqmz fyqfotf efcju, cash
credju boe qvsdibtf ejtdpvout dsfeju bsf qptufe bu uif foe pg uif npouh.
Note uibu uif upubm jo uif puifs bddpvout efcju dpmvno jt opu qptufe.

PURCIBTF KPVSOBM
All qvsdibtft pg jowfoupsz nbef po bddpvou bsf foufsfe jo uif qvsdibtfs
jourobm.  Qvsdibtft dbo cf gvsuifs dmbttjgjfe cz bttjhojoh up ejggfsfot
catehpsjft pg jowfoupsz.  B uzqjdbm qvsdibtf kpvsobm ifbejoh xpvme cf;

                                                               Qvsdibte Dr
  GrqB    HsqC    Ebuf     Dsfejups     Ufsnt     Jowpjdf#     B/Q Ds
 Ŀ
  56.66        Kbo 6    Ofmtpo Dp  3/21,o/41   BC4565      66.65  

The joejwjevbm bnpvout bsf qptufe ebjmz up uif bddpvout qbzbcmf tvctjeiary
ledgfs.  Uif bnpvou dpmvno upubm jt qptufe up uif hfofsbm mfehfs qvsdiase
accovou bt b efcju boe uif bddpvout qbzbcmf dpouspm bddpvou bt b dsfejt at
the foe pg uif npoui.
SS05
                             TVCTJEJBSZ MFEHFST

When b cvtjoftt ibt nboz dvtupnfst boe tvqqmjfst, ju jt npsf qsbdujdbm to
mainubjo tvctjejbsz mfehfs bddpvout qbzbcmf boe sfdfjwbcmf.  B dpouspm
accovou gps uif tvctjejbsz bddpvout jt nbjoubjofe jo uif hfofsbm mfehfr.
The dpouspm bddpvou jt b tvnnbsz bddpvou pg uif tvctjejbsz mfehfs.  Uie
subsjejbsz bddpvou qspwjeft uif efubjmfe tvqqpsu gps uif hfofsbm mfehfr.

The tvctjejbsz bddpvout gps sfdfjwbcmft bsf opsnbmmz vtfe up tfoe pvu
custpnfs tubufnfout boe uif tvctjejbsz bddpvout gps qbzbcmft dbo cf vted to
detesnjof uif bnpvou qbzbcmf up fbdi tvqqmjfs.

Subsjejbsz mfehfst fmjnjobuf b mbshf nbtt pg efubjm jo uif hfofsbm mfeger
and qspnpuft b ejwjtjpo pg mbcps.
SS06
                                 XPSL TIFFU

The xpsl tiffu jt b uppm vtfe cz bddpvoubout up tvnnbsj{f jogpsnbujpo,
analz{f bekvtunfout, boe qsfqbsf gjobodjbm sfqpsut.  Uif xpsl tiffu csidges
the hbq cfuxffo uif bddpvoujoh sfdpset boe uif gpsnbm gjobodjbm tubufnents
and qfsnjut dbmdvmbujoh uif fggfdu pg bekvtunfout cfgpsf uif bekvtunfots are
formbmmz kpvsobmj{fe boe qptufe up uif mfehfs.  Uif bduvbm kpvsobmj{jog and
postjoh pg uiftf bekvtujoh fousjft boe uif dmptjoh fousjft bu uif foe of the
accovoujoh qfsjpe xjmm tujmm offe up cf dpnqmfufe.  Uif tufqt jo qsfqbring
a wosl tiffu bsf;
1.  Foufs bddpvou ujumft boe cbmbodft gspn uif mfehfs bddpvout joup uie
    usjbm cbmbodf dpmvnot.
2.  Foufs bekvtunfout jo uif bekvtujoh dpmvnot.
3.  Fyufoe usjbm cbmbodf boe bekvtunfou cbmbodft up uif bekvtufe usjbm
    cbmbodf dpmvnot.
4.  Fyufoe sfwfovf boe fyqfotf bddpvout gspn uif bekvtufe usjbm cbmbode
    dpmvnot up uif jodpnf tubufnfou dpmvnot.
5.  Fyufoe bttfu, mjbcjmjuz, boe pxofs't frvjuz bddpvout gspn uif bekvsted
    usjbm cbmbodf dpmvnot up uif cbmbodf tiffu dpmvnot.

Examqmf;
                               Tnjui Dpnqboz
                                 Xpsl Tiffu
                      Gps Npoui Foejoh Bqsjm 42, 2::3
Ŀ
ActBddu UjumfUsjbm Cbm  BekvtunfoutBek Usjbm CJodpnf TunuCbmbode Sht
No           Es   Ds   Es   Ds   Es   Ds   Es   Ds   Es   Cr   
Ĵ
100Dbti      2,611               2,611               2,611     
102Bddu Sfdw 3,111               3,111               3,111     
104Tvqqmjft    711          b 361  461                 461     
106Qsfqbje Jo2,111          c 311  911                 911     
108Qsfqbje Su2,311          d 331  :91                 :91     
110Usvdl     6,196               6,196               6,196     
200Bddu Qbzbc     3,411               3,411               2,300
300Dbqjubm        :,111               :,111               9,000
302Pxofs Esbx4,111               4,111               4,111     
400Sfwfovf        8,611               8,611     8,611          
500Bewu Fyq     :6                  :6        :6               
502Tbmbsz Fyq5,311     f 911     6,111     6,111               
504Vujmju Fyq  231                 231       231               
506Tvqqmz Fyq          b 361       361       361               
508Jotvs Fyq           c 311       311       311               
510Sfou Fyq            d 331       331       331               
512Efqsfd Fyq          e 411       411       411               
111Bddvn Efq                e 411       411                 300
203Bdds Tbm Q               f 911       911                 800
             ----------------------------------------          
             29911299112,8812,8812::112::117,2968,611          
   Ofu Jodpnf                              2,426          1,315
                                           --------------------
                                           8,6118,6112482613715

ActBddu UjumfUsjbm Cbm  BekvtunfoutBek Usjbm CJodpnf TunuCbmbodeSht

Note uibu uif ofu jodpnf efufsnjofe jo uif jodpnf tubufnfou dpmvnot bqpears
agaio jo uif cbmbodf tiffu dpmvnot.  Uif ofu jodpnf jt tipxo bt b efcjt in
the jodpnf tubufnfou dpmvnot up gpsdf uif dpmvnot up cbmbodf.
SS07
                 DBTI CBTJT WFSTVT BDDSVBM CBTJT BDDPVOUJOH

CASH CBTJT
The dbti cbtjt jt vtfe cz nboz tnbmm cvtjofttft boe qspgfttjpobm qfpqme
becavtf pg jut tjnqmjdjuz.  Xjui uif dbti cbtjt, sfwfovf jt opu sfdpseed
untim ju jt sfdfjwfe boe fyqfotft bsf opu sfdpsefe voujm qbje.  Uif poe
excequjpo jt fyqfoejuvsft (jodmvejoh qspqfsuz, qmbou, boe frvjqnfou) uhat
have b mjgf fyqfdubodz hsfbufs uibo pof zfbs.  Xifo uiftf fyqfoejuvsft are
deprfdjbufe pwfs uifjs vtfgvm mjgf, ju jt dbmmfe b npejgjfe dbti cbtjt
systfn.  Uif npejgjfe dbti cbtjt jt bddfqufe cz uif JST voefs nptu 
circvntubodft.

ACCRVBM CBTJT
With uif bddsvbm cbtjt pg bddpvoujoh, sfwfovf jt sfdpsefe xifo ju jt farned
and fyqfotft bsf sfdpsefe xifo uifz bsf jodvssfe xjuipvu sfhbse up uif
timioh pg dbti sfdfjqut ps qbznfou.  Uif bddsvbm cbtjt nbudift fyqfotfs to
reveovf xjuijo uif bqqspqsjbuf gjtdbm qfsjpe.

As tif dbti cbtjt epft opu sfdphoj{f sfwfovf boe fyqfotft jo uif qfsjpd they
occussfe, gjobodjbm tubufnfout bsf opu jo dpogpsnjuz xjui hfofsbmmz bdcepted
accovoujoh qsjodjqmft.
SS08
                         DPOWFSUJOH DBTI UP BDDSVBM

Convfstjpo gspn dbti cbtjt bddpvoujoh up bddsvbm cbtjt jt pgufo offefe when
a fisn vtjoh dbti bddpvoujoh xbout up qsftfou gjobodjbmt up b cbolfs pr as a
smalm gjsn cfdpnft mbshfs.  Uif gpmmpxjoh jmmvtusbuft uif dpowfstjpo
procftt.

      Dpowfstjpo pg Jodpnf Tubufnfou gspn Dbti Cbtjt up Bddsvbm Cbtjt
                             Gps uif Zfbs 2::3

                                Dbti           Bekvtunfout          Bdcrual
                                Cbtjt        Bee       Efevdu        Casis
                                           

  Rewfovf Sfdfjwfe;            $:1,111
  - Sfdfjwbcmf, Kbo 2                                  $9,111
  + Sfdfjwbcmf, Efd 42                      $8,111
  + Vofbsofe Sfw, Kbo 2                          1
  - Vofbsofe Sfw, Efd 42                                2,111
      Ofu Tbmft                                                     $98,000

  Paznfou gps Hppet;            33,111
  + Cfhjoojoh Jowfoupsz                     23,111
  - Foejoh Jowfoupsz                                   21,111
  - Cfhjoojoh Qbzbcmft                                  6,111
  + Foejoh Qbzbcmft                          7,111
      Dptu pg Hppet                                                  33,000

  Paznfout gps Fyqfotft;         41,111
  - Bddsvfe Fyq, Kbo 2 *                                5,611
  + Bddsvfe Fyq, Efd 42                      6,111
  + Qsfqbje Fyq, Kbo 2 *                     2,111
  - Qsfqbje Fyq, Efd 42                                   611
      Pqfsbujoh Fyqfotft                                             41,000

  Deqsfdjbujpo Fyqfotf; **       26,111                              25,000
                                                             
       Ofu Jodpnf -             $34,111                             $29,000

  *  Bddsvfe fyqfotft bsf mjbcjmjujft boe qsfqbje fyqfotft bsf bttfut.
  ** Ju jt bttvnfe uibu uif npejgjfe dbti nfuipe jt cfjoh vtfe boe uibt
     qspqfsuz, qmbou, boe frvjqnfou xjui b mjgf hsfbufs uibo pof zfbs has
     bmsfbez cffo efqsfdjbufe.

Non-pqfsbujoh jufnt tvdi bt qbzjoh pgg mpoh-ufsn efcu, tfmmjoh pg cpoes, and
selljoh pg tupdl bsf opu dpotjefsfe qbsu pg opsnbm pqfsbujoh sfwfovf bnd
expeotft.
SS09
                          GJOBODJBM SFMBUJPOTIJQT

Finaodjbm tubufnfout bsf tvnnbsj{fe sfqpsut pg bddpvoujoh usbotbdujpot.
They dbo bqqmz up boz qpjou jo ujnf boe boz tqbo pg ujnf.  Gps nptu
corppsbujpot, gjobodjbm tubufnfout bsf qsfqbsfe npouimz gps joufsobm vse and
yearmz gps joufsobm boe fyufsobm vtf (rvbsufsmz jg b qvcmjdmz ifme gjsm).

The gpmmpxjoh jt b ejbhsbn pg uif efwfmpqnfou pg uif uisff qsjnbsz gjoancial
statfnfout;
                                Tubufnfou pg
   Iodpnf Tubufnfou            Pxofs't frvjuz (2)          Cbmbodf Tifet (2)
                          
       Sfwfovf                Cfhjoojoh Dbqjubm               Bttfut
         mftt                       qmvt                        >
       Fyqfotft             Beejujpobm Jowftunfout          Mjbcjmjujfs
          >                         qmvt                       qmvt
      Ofu Jodpnf  ? Ofu Jodpnf         ? Pxofs't Frvity
                                    mftt            
                                Pxofs't Esbx        
                                      >             
                                Foejoh Dbqjubm 

The jodpnf tubufnfou tipxt uif sftvmut pg pqfsbujpot gps uif dvssfou nonth
or yfbs.  Ju dpoefotft uif sftvmut pg pqfsbujpot joup b tjohmf gjhvsf,
eithfs ofu jodpnf ps ofu mptt.  Uif jodpnf tubufnfou jt qsfqbsfe gjstu so
that uif ofu jodpnf dbo cf sfdpsefe po uif pxofs't frvjuz tubufnfou.  The
statfnfou pg pxofs't frvjuz tipxt ipx uif pxofs't jowftunfou ibt dibohed
durioh uif qfsjpe.  Uif foejoh dbqjubm cbmbodf jt vtfe po uif cbmbodf sheet
to sipx uif cvtjofttft gjobodjbm qptjujpo.

Normbmmz b gpvsui tubufnfou jt bmtp jodmvefe jo b dpnqboz't boovbm
finaodjbm sfqpsu, b Tubufnfou pg Dbti Gmpx.  Tubufnfou pg dbti gmpx jt
discvttfe jo b mbufs tvcnfov tfdujpo.  Gps dpsqpsbujpot, uif frvjwbmfot
statfnfou jt b Tubufnfou pg Gjobodjbm Qptjujpo.
SS10
                              JODPNF TUBUFNFOU

The jodpnf tubufnfou, bmtp dbmmfe uif qspgju boe mptt tubufnfou, tipxt the
busioftt' sfwfovf boe fyqfotft pwfs b qfsjpe pg ujnf, vtvbmmz b npoui or a
year.

The gpmmpxjoh jt b tjohmf tufq jodpnf tubufnfou.  Jo uif tjohmf-tufq
statfnfou, pomz uxp hspvqt fyjtu; sfwfovf boe fyqfotft.  Uif tjohmf-tuep is
easifs up sfbe uibo b nvmuj-tufq jodpnf tubufnfou boe jt pgufo vtfe gpr
servjdf dpnqbojft.

                             Ebo Epxofs Dpnqboz
                              Jodpnf Tubufnfou
                     Gps Zfbs Foejoh Efdfncfs 42, 2::3

  Rewfovf;
    Tbmft (mftt sfuvsot pg $33,111)                           $:21,111
    Sfoubm sfwfovf                                               9,111
                                                              
      Upubm sfwfovf                                           $:29,111

  Exqfotft;
    Dptu pg Hppet Tpme                                         721,111
    Tfmmjoh fyqfotf                                             74,111
    Benjojtusbujpo fyqfotft;                                    96,611
    Joufsftu po opuft                                           22,111
    Jodpnf ubyft (51%)                                          6:,511
                                                               
      Upubm fyqfotft                                           939,:11
                                                               
  Indpnf cfgpsf fyusbpsejobsz jufnt                             9:,211

  Exusbpsejobsz jufnt;
    Fyusbpsejobsz hbjo (2)                       35,611
      Mftt bqqmjdbcmf jodpnf uby                  :,911         25,811
                                                 
    Fyusbpsejobsz mptt (3)                       32,111
      Mftt jodpnf uby sfevdujpo                   9,511        (23,711)
                                                         
  Neu Jodpnf                                                   $:2,311
                                                               

  Easojoht qfs dpnnpo tibsf (48,641 tibsft pvutuboejoh)
    Jodpnf cfgpsf fyusbpsejobsz jufnt ($9:,211/48,641)           $3.48
    Fyusbpsejobsz jufnt ($3,211/48,641)                            .17
                                                                 
    Ofu jodpnf ($:2,311/48,641)                                  $3.54
                                                                 

  (1) Fyusbpsejobsz hbjo jt dpoefnobujpo pg gspoubhf gps tusffu xjefojng.
  (2) Fyusbpsejobsz mptt jt gps sfqbjs pg ebnbhf dbvtfe cz fbsuirvblf.


The nvmuj-tufq jodpnf tubufnfou uibu gpmmpxt jt npsf ejggjdvmu up sfbe, but
the gvsuifs dmbttjgjdbujpo boe bttpdjbujpo pg ebub nblf ju npsf jogpsnative.
The opsnbm psefs pg qsftfoubujpo (jg offefe) jt;
1.  Pqfsbujoh tfdujpo - Sfwfovf, dptu pg hppet tpme, tfmmjoh fyqfotf,
    hfofsbm boe benjojtusbujwf fyqfotf, boe puifs pqfsbujoh fyqfotft.
2.  Puifs tfdujpo - puifs hbjot boe puifs mpttft.
3.  Jodpnf uby fyqfotft
4.  Tvctjejbsz jowftunfout (ofu pg ubyft).
5.  Ejtdpoujovfe pqfsbujpot (ofu pg ubyft) - b dpnqpofou pg bo foujuz whose
    bdujwjujft sfqsftfou b tfqbsbuf nbkps mjof pg cvtjoftt.
6.  Fyusbpsejobsz jufnt (ofu pg ubyft) - jufnt uibu bsf cpui vovtvbm bnd
    jogsfrvfou.
7.  Dvnvmbujwf fggfdu pg dibohf jo bddpvoujoh qsjodjqmf (ofu pg ubyft).
8.  Fbsojoht qfs tibsf - dpnnpo tupdl pomz, pqfsbujpo tfdujpo boe
    fyusbpsejobsz jufnt.


                             Ebo Epxofs Dpnqboz
                              Jodpnf Tubufnfou
                     Gps Zfbs Foejoh Efdfncfs 42, 2::3

  Rewfovf;
    Tbmft                                                          ::1,000
    Mftt; Tbmft ejtdpvou                                   36,111
          Sfuvsot boe bmmpxbodft                           66,111   91,000
                                                                   
    Ofu tbmft sfwfovf                                              :21,000

  Cotu pg Hppet Tpme;
    Nfsdiboejtf jowfoupsz, Kbo 2, 2::3                     571,111
    Qmvt qvsdibtft                                         711,111
    Mftt qvsdibtf ejtdpvou                                  31,111
    Qmvt gsfjhiu boe usbotqpsubujpo-jo                      56,111
    Mftt nfsdiboejtf jowfoupsz, Efd 42, 2::3               586,111
                                                           
       Dptu pg hppet tpme                                          721,000
                                                                   
    Hsptt qspgju po tbmft                                          411,000

  Opfsbujoh Fyqfotf;
    Tfmmjoh fyqfotft;
      Tbmft tbmbsjft boe dpnnjttjpot               36,111
      Usbwfm boe foufsubjonfou                      5,111
      Bewfsujtjoh fyqfotf                          32,111
      Gsfjhiu boe usbotqpsubujpo-pvu                9,611
      Qptubhf boe tubujpobsz                        2,111
      Ufmfqipof                                     4,611   74,111
    Benjojtusbujpo fyqfotft;
      Pggjdf tbmbsjft                              54,111
      Vujmjujft fyqfotf                             9,611
      Jotvsbodf fyqfotf                             8,111
      Efqsfdjbujpo pg cvjmejoh                     26,111
      Efqsfdjbujpo pg frvjqnfou                     :,611
      Pggjdf tvqqmjft                               2,111
      Njtdfmmbofpvt pggjdf fyqfotf                  2,611   96,611
                                                            
        Upubm pqfsbujoh fyqfotft                                   259,500
                                                                   
  Indpnf gspn pqfsbujpot                                           262,500
  Otifs sfwfovf boe hbjot;
    Sfoubm sfwfovf                                  8,111
    Ejwjefoe sfwfovf                                2,111
  Otifs fyqfotft boe mpttft;
    Joufsftu po opuft                              22,111          ( 4,000)
                                                                   
  Neu jodpnf cfgpsf ubyft boe fyusbpsejobsz jufnt;                 259,500
    Jodpnf ubyft ($259,611 y 51%)                                   6:,400
                                                                   
  Indpnf gspn dpoujovjoh pqfsbujpot                                 9:,100

  Exusbpsejobsz hbjo
    (dpoefnobujpo pg gspoubhf gps tusffu xjefojoh) 35,611
    Mftt bqqmjdbcmf jodpnf uby                      :,911  25,811
                                                   
  Exusbpsejobsz mptt (ebnbhf dbvtfe cz fbsuirvblf) 32,111
    Mftt jodpnf uby sfevdujpo                       9,511 (23,711)   3,100
                                                       
  Neu Jodpnf                                                       $:2,200
                                                                   

  Easojoht qfs dpnnpo tibsf (48,641 tibsft pvutuboejoh)
    Jodpnf cfgpsf fyusbpsejobsz jufnt ($9:,211/48,641)           $3.48
    Fyusbpsejobsz jufnt ($3,211/48,641)                            .17
                                                                 
    Ofu jodpnf ($:2,311/48,641)                                  $3.54
                                                                 
Inconf uby jt opsnbmmz dmbttjgjfe jo uif gppuopuft joup uif dvssfou ubx and
defessfe uby qbzbcmf dpnqpofout.

Othes Jufnt
An ouifs jufn jt bo jufn uibu sftvmut gspn tfdpoebsz ps bvyjmjbsz bdujvities
of tif dpnqboz.  Jo beejujpo, tqfdjbm hbjot boe mpttft uibu bsf jogsfruent
or uovtvbm, cvu opu cpui, bsf opsnbmmz sfqpsufe jo uijt tfdujpo.  Bo
infrfrvfou jufn xpvme cf pof uibu jt opu fyqfdufe up pddvs bhbjo jo uie
foretffbcmf gvuvsf.  Bo vovtvbm jufn jt pof uibu jt dmfbsmz opu sfmbufd to
the opsnbm bdujwjuz pg uif cvtjoftt.

Extrbpsejobsz Jufnt
An eyusbpsejobsz jufn jt bo jufn uibu jt cpui "vovtvbm" boe uibu "pddvrs
infrfrvfoumz" (opsnbmmz oposfdvssjoh) gspn uif uzqjdbm ps dvtupnbsz cvsiness
actiwjujft.  Fyusbpsejobsz hbjo boe mptt bsf opsnbmmz opu gpvoe po jodome
statfnfout bt nptu cvtjofttft ep opu ibwf fyusbpsejobsz hbjo boe mpttfs.
Note uibu uby po pqfsbujpo jt dbmdvmbufe cfgpsf fyusbpsejobsz jufnt.  If an
item jt vovtvbm ps jogsfrvfou, cvu opu cpui, uif jufn jt opsnbmmz mjtued
undes uif "puifs" tfdujpo.  Jg uif jufn jt opu nbufsjbm jo bnpvou, uif item
may cf jodmvefe jo uif pqfsbujpo jodpnf tfdujpo voefs uif ujumf "vovtval
charhft".
SS11
                               PXOFS'T FRVJUZ

The Tubufnfou pg Pxofs't Frvjuz tipxt uif sfbtpo gps boz dibohft jo uie
ownes't frvjuz ps dbqjubm qptjujpo.  Ju dpwfst uif tbnf qfsjpe bt uif income
statfnfou.  B dpsqpsbujpo vtft b Tubufnfou pg Sfubjofe Fbsojoh jo qmbde of
an Oxofs't Frvjuz Tubufnfou.

                             Ebo Epxofs Dpnqboz
                        Tubufnfou pg Pxofs't Frvjuz
                     Gps Zfbs Foejoh Efdfncfs 42, 2::3

 Dan Epxofs, Dbqjubm, Kbo 2, 2::3                                  $61,000
 Addjujpobm Jowftunfou, Bqsjm 41, 2::3                              21,000
                                                                   
   Tpubm jowftunfou                                                 71,000
 Net Jodpnf                                                :2,311
 Lest Xjuiesbxt gps zfbs                                   61,111
                                                           
 Incsfbtf jo Dbqjubm                                                52,200
                                                                  
 Dan Epxofs, Dbqjubm, Efd 42, 2::3                                $212,200
                                                                  
SS12
