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% LAS VEGAS LAND AND WATER COMPANY____________ (N A M E O F C O M P A N Y ) E X H IB IT SH E E T O F SH E E TS STATEM ENT O F INCOM E, A N D PROFIT A N D LO SS A C C O U N T S (Water Service Operations, Las Vegas, Nevada) A S IN C L U D E D IN C O R P O R A T IO N INCOM E T A X R E T U R N , .(F O R M 1 120) F O R C A L E N D A R Y E A R 19 4 6 2.48, m ITEM S N O T S U B JE C T TO T A X ITEM S T O T A L S FO R N O N T A X A B L E U N A L L O W A B L E T A X A B L E N E T D E S C R IP T IO N O F IT E M S N O T S U B JE C T T O TA X , E T C . IN C O M E D E D U C T IO N S INCOME Revenues ~ Water Services Water Sales - Commercial V 143 120.02 do - Industrial 143 120.02 16 234*27 16 234.87 Revenues - Miscellaneouss Water service connections and turn on chargee 2 094.87 2 094.87 Other Incomes Penalties collected on delinquent water bills 738.25 738.25 Total Gross Income 162 188.01 162 188.01 DEDUCTIONS FROM GROSS INGCHE Operating Expenses - Water Services Maintenance of water mains 15 756.55 15 756.55 Rent for pipe lines 73 908.48 73 908.48 General Expenses: Administrative salaries (76%) 8 295.27 8 295.27 Other general office salaries (76$) 8 280.28 8 280.28 General office supplies and expenses (76$) 1 203.40 1 203.40 Lav expenses (86$) 2 252.36 2 252.36 Depreciation > Pipe Lines 6 896.80 3 374.70 3 522.10 Depreciation accrued in excess of amount allowable Taxes an Water System 16 250.00 16 250.00 Total Deductions 132 843.14 3 374.70 129 468.44 Net Income 29 344.87 3 374.70 32 719.57 Net operating loss carry forward from year 19-44 * * 20 887.17 Portion of net operating loss carry forward from year 1945 H * * 11 832.40 Net taxable income after applying net operating loss for years 1944 and 1945 * * mm • •