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<br />I <br /> <br />I <br /> <br />TUNNEL WATER COMPANY, INC. <br />STATEMENTS OF ACTIVITIES <br />For the Years Ended November 30, 1998 and 1997 <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />REVENUES: <br />Assessment income (Note 2) <br />Lease and rent income <br />oil royalty and miscellaneous income <br />Total revenues <br /> <br /> 1998 1997 <br />$ 49,500 49,500 <br /> 2,000 1,500 <br /> 963 1,S03 <br /> 52,463 52,503 <br /> <br />I <br /> <br />I <br /> <br />EXPENSES: <br />General expenses: <br />Office salary <br />Office rent and expense <br />Payroll taxes <br />Legal and accounting <br />Insurance <br />Commissary supplies <br />Depreciation... . <br /> <br />Total expenses <br /> <br />6,764 6,848 <br />130 172 <br />2,487 2,396 <br />1,212 1,000 <br />3,537 4,008 <br />2,907 3,127 <br />6,953 6,953 <br />23,990 24,504 <br />1, 051 1,393 <br />8,100 8,037 <br />10,217 9,641 <br />2,264 2,992 <br />472 509 <br />792 2,113 <br />360 397 <br />22,205 23,689 <br />47,246 49,S86 <br />5,217 2,917 <br />:L97,267 194,350 <br />$202,484 197,267 <br /> <br />I <br /> <br />I <br /> <br />Tunnel expenses: <br />Building repairs and expense <br /> <br />Rawah ditch expenses: <br />Superintendent <br />Labor <br />Gas and oil <br />Truck repairs <br />Machinery repairs <br />Ditch repairs <br /> <br />CHANGE IN NET ASSETS <br /> <br />NET ASSETS, BEGINNING OF YEAR, <br />UNRESTRICTED OPERATING <br /> <br />NET ASSETS, END OF YEAR, <br />UNRESTRICTED OPERATING <br /> <br />See accompanying notes to financial statements. <br />