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LAS VISAS LAND AND WATER COMPANY E X H IB IT (NAME OF COMPANY) , ! S H E E T O F S H 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 1 2 0 ) F O R C A L E N D A R Y E A R 19-42--------- £ - « - im ITEM S N O T S U B JE C T TO TA 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 T A X , E T C . IN C O M E D E D U C T IO N S INCOME Revenues - Water Service : Water Sales ** Consnercial do - Industrial 105 279.40 12 409.03 105 279.40 12 409.03 Revenues ~ Miscellaneouss Water service connections and turn on charges 3 990.99 3 990.99 Other Incomes Penalties collected on delinquent water bills 5.75 5.75 Total Gross Income 121 685.17 121 685.17 DEDUCTIONS FROM GROSS INCOME Operating Expenses - Water Services Maintenance of water mains Rent for pipe lines 13 161.09 47 580.07 23 161.09 47 580.07 General Expensess Administrative salaries (76%) Other general office salaries (76%) General office supplies and expenses (76%) Law expenses (80$) 6 975.36 7 386.90 873.89 2 053.57 6 975.36 7 386.90 873.89 2 053.57 • Depreciations Pipe lines Tools and equipment 3 142.42 15.00 1 418.41 1 724.01 15.00 Depreciation accrued in excess of amount allowable Amortization of Defense Projects Taxes on water system 1 / 17 920.33 9 450.00 25 409.89 43 330.22 9 450.00 Amortization allowable in excess of amount accrued in the accounts under the accelerated plan Total Deductions 108 558.63 23 991.48 132 550.11 Net Income 13 126.54 23 991.43 10 864.94 Net operating loss carry back and carry forwards Carry hack to year 1942 Carry forward to year 1944 (uot applied) * * # * 5 401.92 Net taxable income after applying net operating loss carry back * * 5 463.02 l/lncludes accrual of $294.55 which was canceled in IS<i4«