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<br />.' <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />TUNNEL WATER COMPANY, INC. <br />STATEMENTS OP ACTIVITIES <br />For the Years Ended November 30, 1997 and 1996 <br /> <br />REVENUES. <br />Assessment income (Note 2) <br />Lease and rent income <br />oil royalty and miscellaneous income <br />Total revenues <br /> <br /> 1997 1996 <br />$ 49,500 63,900 <br /> 1,500 1,500 <br /> 1,503 1,587 <br /> 52,503 66,987 <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 />6,848 6,585 <br />172 157 <br />2,396 2,703 <br />1,000 962 <br />4,008 4,255 <br />3,127 3,760 <br />6,953 6,999 <br />24,504 25,421 <br />1,393 1,201 <br />8,037 9,435 <br />9,641 9,472 <br />2,992 4,036 <br />509 731 <br />2,113 2,597 <br />397 390 <br />23,689 26,661 <br />49,586 53,283 <br />2,917 13,704 <br />194,350 180,646 <br />$197,267 194,350 <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 OP YEAR <br /> <br /> <br />NET ASSETS, END OF YEAR <br /> <br />See accompanying notes to financial statements. <br />