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<br />Annual Report for 1988 <br /> <br />LIABILITIES <br /> <br />CURRENT LIABILITIES <br />Notes Payable-Bureau <br />Reclamation-Current <br />Notes Payable-Wichita <br />Bank-Current <br />Accrued Interest Payable <br />TOTAL CURRENT LIABILITIES . <br /> <br />....$ 11,000.00 <br /> <br />$ 11,000.00 <br /> <br />29,802.00 <br />4,841.94 <br />S <br /> <br />28,849.00 <br />8,492.54 <br />45,443.94 S <br /> <br />46,341.54 <br /> <br />LONG TERM LIABILITIES <br />Notes Payable-Bureau <br />Reclamation. . . $ 22,533.81 <br />Notes Payable-Wichita <br />Bank Cooperatives 155,881.00 <br />TOTAL LONG TERM LIABILITIES. <br />TOTAL LIABILITIES . <br /> <br />$ 33,533.81 <br /> <br />185,683.00 <br /> <br />176,414.61 <br />S 223,658.75 <br /> <br />219,216.61 <br />S 265,558.35 <br /> <br />NET WORTH <br /> <br />MEMBERS' EQUITY <br />Capital Stock Issued. . . .$ <br />Capital Stock Subscribed. <br />Less: Treasury Stock. . . <br />Retained Earnings. . . . . . <br />TOTAL NET WORTH <br />TOTAL LIABILITIES & NET WORTH <br /> <br />36.472.19 <br />20.81 <br />(1,810.14) <br />373,031.12 <br /> <br />$ 36,472.19 <br />20.81 <br />(1,810.14) <br />391,255.21 <br /> <br />407,713.98 <br />S 831,572.73 <br /> <br />425,938.07 <br />S 691,496.42 <br /> <br />BEGINNING BALANCE - January 1 . . <br />ADD: Gain (Loss). Exhibit C . . . . <br />ENDING BALANCE. December 31 <br /> <br />COMPARATIVE STATEMENT OF RETAINED EARNINGS <br />For years Ended December 31, 1988 and 1987 <br />1968 <br />. . . . . S 391,255.21 S <br />(18,224.09) <br />. . . . S 373,031.12 S <br /> <br />1987 <br />366,028.69 <br />23,226.52 <br />391,255.21 <br /> <br />Page 8 <br />