Document Lpn5qyZB70NqJEmbrdKykYbEw

FEDERAL INCOME TAX SCHEDULES THE GLIDDEN COMPANY CLEVELAND. OHIO OCTOBER SI. 1 5l s . Sw. v-.' N13560 GLD 045465 'VoRtt 0. S. Trtwwy Dcpvtaal (derail Rerm* Smite CORPORATION-TM For Calendar Year 1950 or fiscal yearteginang JHwfiatly 1950, andendiagftOMgT-JX, 1951 HUNT PLAINLY CORPORATION'S NAMS AND ADDRXSS tntuauMWttr - (M ___________ aagftiKiitijH **4 ammkm) jnaalMA-U________ ;______________ (C*j m Wt mu) i MtL (Stew) F3e Cb. Strifel No. .. (CwU*-. Dsls State r camriry :*-*- Priaopal bomtets adfrky (Son lwtnidMB N) _ Boainess pooy ceda i ((ram Inatrudiap N)____ __________.... ' NuaUr tf plecas ' , NET INCOME COMPUTATION' FW Paywate laaiTEuEV.. CRO^ INCOME 1. Gross soles (where inventories Are Wrll^ IOjTJe*w so income-determining factor}...--,.... > --. .. ----- ; 2. Less: Cost of goods sold. (From Schedule A) Less: Returns sad IlMTlnaM----- 3. Gross profit from sslee.____....____ -- - ._______ *-- - ff a5Tnfi*oft*r 33E3! tOT 4, Gross receipts (where inventories Are not *n Inoome-detetraining factor)-- 5. Less: Cost of operstions. iVmm SehaHitU R) . .. ' --: 6. Gross profit where inventories Are not An income-determining factor. 7. iDtereet on loans, notes, mortgagee, bonds, bank deposits, etc .* iiMM ' i'.'tX* Lm*i AmjfUmHt4 ,,%>><& >ni* Q'W 8. Interest on corporation bonds, etc............ -- - ------- : 9. (<) latecast oa United States asriea bonds as4 Treasury teats owned la am oftha principal iinocal o(W,OCO laiasd prior to ItaRb L 1SU--.--______ (4) Interest ea obUssUoss ol anslo tastramaatetUks <f the United Stem Anted prior to Mai3 l, 1ML................. ....................................... .................... (t) lateral os Treasury eotes itrasd oo or site Decsabw 1.1M0, ud obUptlooJ mteeonetdaolitoyotbraarlatearCM.._a_r_c_h_1_. _IS__I_l._b_r_tbs Un- ited States or oar wooer o_r_T_o_m__e* 10. Rente-...... ................................... .................................. ........ ............... 11. Royalties............ ......................................... 13. (a) Total net short-term capital gain (or excess of net short-term capital gain over net long-term capital loss). (From Schedule C)__ ' (4) Total net long-term capital gain (or excess of net long-term capital gain over net shortterm capital loss). CFmm Schedule GV ' -- ---- ------ -------- ---------- , (e) Net gain (or loes) from sale or exchange of property other than capitalaaeets.' (From SehoduleD). 13. Dividends. (From Schedule E)__ - ----- ------- --------* ------ 14. Other income. (State nature) '------- TCTfc vs: U< t yim TBBP& vs r 15. Total income in items 3, and 8 to 14, innlnMw . DEDUCTIONS 16.' Compensation of officers. (From Schedule F) 17. Salaries and wages (cot deducted elsewhere) 18. _... l: .. ^ 19. Repairs (do not include cost of Improvements 30. Bad debt*. (From Schedule G) 21. Interest 23. Taxee. (From Schedule H) 23. Contributions or gifts paid. (From Schedule I?' - ---------- --------- ------ -_____ 24. Losses by fire, storm, shipwreck, or other casualty, or theft. (Submit schedule). 25. Depreciation. (From Schedule J).._ .........-.............................................................. 20. Depletion of mines, oil and gas wells, timber, etc. (Submit schedule). 27. Amortisation of emergency facilities. (Submit schedule)-------------------- 28. Advertising______ -__________________________________________________ 29. Amounts contributed under a pension, annuity, stock bonus, or profit-sharing plan, etc- 30. Other deductions authorised by law. (From Schedule K)__________________ .................... 31. Total deductione in items 16 to 30, iwiitMTM -- ------ ----- vnvsivr --gttforfg 3k --WMfio -IMfiMIT 1*- , k*SU,0M 57 75 32. Net income before net operating loes deduction on account of net operating loss carry-over (item IS lem Hon 81)--.............. 33. Less: Net operating loss deduction on aocount of net operating loes earTy-over from two preoeding yean. (Submit state ment)........................... .............___________----------------------------------- ------ ------------------------ , 34. Net incomeTM--............... -....... --............ .......................... ............. . MnkBkim TOTAL INCOME TAX 35. Total income tax (line IU, pag^^oFjSm Fora 1120FY, ,. 36. Less: Credit for income taxes paid to g foreign country or United States possrnrion Allowed A domestic rvtrporntirm ___ ............................... ,, 37. Balance of income tax due.................. --.............. .......... ........................... ________________________ -ftfifiMMfc- s 7iai#5U 7k DECLARATION. (See Instruction E) - We, the undersigned, president (or vice preddent, or other principal officer) and treasurer (or assistant treasurer, or chief accounting officer) of th corporation for which this return is made, each for himself declares under the penalties of perjury that this retorn (ineluding any accompanying schedules as statements) has been examined by him and is, to the best of his knowledge and belief, a true, oorreet, and complete return, made in good faith, for the taxab! year stated, pursuant to the Internal Revenue Code and the regulations issued thereunder. (Present sr otter priatepal aOnr) (State uus) SMfl3T (Treasons, Aatnaal Tisssarar, sr OHM iniiiillie Ofiosr) (State tills) DECLARATION. (Se* Instruction E) ;L I/we declare under the penalties of perjury that I/we prepared this return for the person named herein and that the return (Including any accompany ing schedules and statements) is a true, oorreet, and eotuplete statement of all the information respecting the tax liability of the person for whom this retun bss been prepared of which I/we have any knowledge. (Tkuitsn st pwsosmwai tte ramrai (Date) UII*BeSsrsf esrssa prsesria* tbs mas) (Nate* <t Sna Mapisysr, U any) GLD 04546f . Schedule'A.--COST OFGOODS'S (WWi mat Inventory at beginning of year....... .................. Materiel or merebendisc bought for manufacture '&3(|3EgP* TaWWWmWft1'|v. '6th*rNs5Jj&WdeUIled): ji -* - -i 5PERA1 Other costa per books. (Attach itemised schedule). Tot*]................ ......................................................... Lees: Inventory *t end of year................ ...... Cost of goods sold (enter as item 3, page 1). ...................... (e) ' ' ........................... . <) '...................................... Total (enteKaMtem 5, page 1) ............... *...................... ' _____ part of thi* relorn. Schedule D.--GAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY OTHER THAW CAPITAL ASSETS. (See Instruction 12) t. Dwcrlptioo erf Property 1 Dftta Aoqoirad 1. IwteSold Wo. Dey Tow Mo. D*y Ymf 4. Oran ftito* Prtot (Cootnct pm) 9. Poprw.dadiaa AOowwd (or a&oweblo) 6fees AcueMtloe or March I, IMS (Tmto* dadaflo) 6. Coat or Other Basts sod Cote of Improra. amts Subsanoant to Aoqulslttoe or Mareh l.ltis ?. Kvpoon <rf ...................................................... -........... *............ -V.. * .c . -- <i *; ! r*". < <*- : Totals.............. ............... ....................... ' ___________ s.............. ........ $...... ................ ......... Total net gain (or loos). (Column 4 plus oohunn 6 minus the sum of column* 0 and 7) Ent*r u item 12 (e), page 1...... .......... t. Stat* with rwpeet tooacb lira oipvfmly repcrtod to Scbadote D: (1) how property VMmulni _____________ (11 *bather et time sfnlto' erchaace (a) porehasr owned dbaetJy or tbolraetly more Una H parent to reloe or year oeuuadlsc Boat, (t) where parehaiar wag a oorpcratloe. more thee SO m .ilmof Its capital itock and 90 pareeet In valor of year capital stock wtaowood alnetly or IsdincUy by orfor tie sene tndlvtdoal or hi body, and (e) iwi purchaser war a corpm-atlm. 'rbethes aat tbao SO patcrot La .aloe at Its eapltaJ slock *u owpsd directly or Indirectly by yoc If m, stela over mi uMnaa of punbaear. Schedule E.--INCOME FROM DIVIDENDS 1. Kane aod Addnea of Parts* Corporation S.'Docaaetfe Copsiiioee Taxable Under Chactor l_ Internal Bovmcs Cods ' S. Cortaie Piafamd Stack of PohBe TRBHaa Talk .Ondar Cbaptn 1 of Inar- nal Bovma Coda . .... _*>osv's ' fin m _... -- t Poraiss Corporatioa t! ... ft. Otbn Cpnfi0Ds !----------------------- -- : i Total of columns 3, 3, 4, and 5. (Enter as item 13, page 1) -- i -- ......... ..!zziz: r.. Bieept dindeodi oc oertaia preferred stock of pnbllc BtQtUea whiab sboolU ba entered to abuts l, tad dlrtdmdt racafnd tram China Trade Act corporations, aad tram enrDcratm ntM to u baoefUiofaectloaJil ottbo InuroaJ KaTtnoo Coda, which aboold baenterrd ta column 4. _ ... .. Dlrideods oo shore tcootmts ts Tedwal aortaa and loae caortoUaae Is oaaa of shore tomsla based prior to Kareb *, ISO. thooM mt ba hated, bat the amount should be taSoded to item O) MI l:dlTtdtadsonsboroococgts leaned poor after March ffi. lUXeboon ba reported InaotniaB k _____________________________________________________ tad Add/* of Officer Scbedule;F^OMPE3^^C^pC^)Fr|CER^^;. eg? 1 OfielaJ Titfe s^oVwsUiw^ I'- - (?Pffo*Bto*o orf OorpormfibBj*i X Tls Derated Stock Oiraed to Stednes 4, - ft. PTOfO/Tod C1omAcp&eoBosawejQ9oi ... ............ . . ..................... 1---------------- .......... ........... i ............ . a V-* - . **'* ----r '* .... ... . . S-. i - ................ Total compensation of officers. (Enter as Item 13, page 1)__ -- ..................... !"SebtduU G.--BAD DEBTS* Instruction 20) (S* not*) . 1. Ttsabte Yrar ADouat orf Note* *sd Amute lUcdToblo OfitstftodlDf ofr-- 1 Ba*lsslb(o< Year J. Bed of Year 4. Not laces* Exported ft. 8*i** oa Aoaooat d. Bad Z>abO of Corpo ration U Me Braarra Is Carried oe Books U Corporation Cwrtaa TfrnrTj # $% &&?. Oran Asooat Added to Reoe/xo 1 ABoost Cbw**d Action g 1946........... S..................... 1947........... J------------------ -- -- -- ::Ez '() * -.............. *---.......... .............. -- 1950........... S*nu)ti wbtcb vt ctpttaj t*a*o *od vblcA tmraa* vortbko* vttUn tbe uxtbk y*w iboold b* reported te fi-***^^ 0. .... ........................ ............ j 1 Schedule H.--TAXES. (See Instruction 22) Schedule I.--CONTRIBUTIONS OR CIFTS PAID. (Soa Instruction 23) Kwun Amooot Kamo and *ddm of OnmtuOeai AB0OOS ..................................... ................................ --........... ................................. n*ir*wmaa'........................ . r ...a. - ... . v* * ; .v'^%, . V-.vir ^ r :^'1l*rtr..................... ......... -- -- .........................................--........................................ -- -- --.......................................... ........-............ .............. ................. -- "T7?>i > T" ---------- ----------- Xotal.^ (Enter aa ham 23, page 1, subject to 5 percent limitation.) <8ee Instruction 23). M tan* i GLD 04546 Schedule K.--OTHER DEDUCTIONS.- (See Instruction' 30) TAX COMPUTATION. (See -TurComput&tion Instructions) CALENDAR'YEAR.ISM - ' For other taxable years ending alter June SO, 1960,`and before'December 81, 1961, obtain from Collector Form 1I20FY and u m rates shown, thereon to compute the tax. Ur N. 1. Net income (item 34, page 1). *_______ Leas: Dividends received credit: (a) Enter 85 percent of column 9, Schedule R ____ ._ . . .(b) Enter 57 percent of column 3, Schedule E Total dividends received credit. Enter sum of (a) and (b), above, but not to exceed j 86 percent of the excees of item 82, page 1, over the sum or items 9.(a) and 9 (h), page 1.. 3. Credit for dividends paid on certain preferred stock if taxpayer la a publio utility--..___ 4. Credit for Western Hemisphere trade corporations .............' . 5. Surtax net income..-............ ............-___ ______ _______________ _____ ' .............. 6. Combined normal tax and surtax. If amount of line 5 la: Not over 825,000; enter 23 peroent of line 5 (25 percent If a consolidated return). Over 825,000. Compute 42 peroent of line 5 (44 peroent if a consolidated return).. Subtract 84,750. ' E*+,- difference. Lees: Normal tax adjustment for partially tax-exempt interest; enter 23 peroent.of the.sum of items 9 (a) and 9 (6), page 1, but not in excess of 23 percent of Use a Surtax adjustment for partiallyHex-exempt Interest. If amount of line 6 la: Not over 825.000; enter aero.. . Over 825,000: Chi 'T - 9 Wrpage-TT 9. Normal tax and surtax......... 3____ QUESTIONS 1. If this is the corporation's first return, indicate whether (a) canpletely new business , or (6) successor to previously existing business, which was organised as (1) corporation , (2) partneahlp , or (3) sole pro prietorship D.or (4) other (indicate)........... If successor to previously existing business, give name and address of the previous business organisation . 2. Collector's office where the corporation's return for the preoedlng year was filed...................................................................... ...................................... 3. Enter amount of income (or deficit) from Item 32, page 1. Form 1120 fornw...?.^..^. ................... 4. The corporation's books are in care of. Hr. >. tear OMrtMilar Located at 11001 Mini iemmt 4j flfcl* 5. Enter the approximate number of stockholders at the close of the tax* able year...... 9...................... *****l.T --................ 6. Check If the corporation U a farmers' marketing or a farmer*' purchas ing cooperative association Q. a consumers' cooperative association Q, or other cooperative association CL 7. Is the corporation a personal bolding company within the meaning of sectioo SOI of the Interna! Revenue Code?_____ tional return on Form 1120 H must be filed.) (If so, an addl* 8. Is this a oonoolidatod return? . -- (If so, procure from the collector of Internal revenue for your district Form 851, Affiliations Schedule, which shall be filled In and filed as s part of this return.) 9. If this Is not a consolidated return: (a) Did the corporation own at any time during the taxable year 50 percent or more of the voting stock of another corporation either domestic or foreign? _??? ; or (6) did any corporation, individual, partnership, trust, or association own at soy time during the taxable year 50 percent or more of the corporation's voting stock? --?? ' (If either answer is "yes," attach separate schedule showing: (l) Name and addreee; (2) percentage of stock owned; (3) date stock was acquired; and (4) the collector's office in which the income tax return of such corporation, individual, partnership, trust, or association for the last taxable year was filed.) 10. Is this return made on the basis of cash receipts disbursements? If not, describe fully In separate statement. Mn*l 11. State whether the inventories at the beginning and end of the taxable year wsa&^alucd at ocsV, or ooet or market, whichever Is lower other basis Is used, explain fully in separate statement, giving date inventory was last reconciled with stock (see Specific Instruction 2). 12. Did the corporation make a return of information on Forms 1096 and 1099 or Form W-2a for the calendar year 1960 (see Instruction G-(l))? ____ 18. Has any transaction described In Instruction G-13) occurred on or after October 8, 1940? (Answer "yes" or "d o ") _T*.................................. 14. Did the corporation at any time during the taxai^^ear own directly or fndireetly any stoek of a foreign corporation? . statement as required by Instruction K-(3).) (If so, attach GLD 045468 Fas* 4 ASSETS 1.Cub. 2. Notes and accounts receivable-- Less: Reserve for bed debts.. 3. Inventories: ( ) Rsw materials... ( ) Work in process es) Finished goods... (d) Supplies. 4.Investments In governments! obligstioos: <) OftlissUaes o< Sbu. Tertiary, at pollllesl rjbdivWea thsreaf, at the District at Colombia or United BOM* EweeeHnm --------------------- - () OWIltlone el tbe United BUlet: (1J Oblitetiou lined on or Mon September 1, HIT: *n postil tertna PondiiTressa/T nous Iwoid priorto DeeuWl, IMO; lalTnuarT CD U!U lined prior to Doited Btetenerttm bMoendrd! mi 1.l|TMe1rn--a--r-y--b--o--n--d--!-I-s--ned--pr--ie-s--I.---/--0---o H. 1,1M1. (I) TroiobsllocerTtloanoitoetitblieneCdoiloend oSrteitfetsoUr sDoeedemonboerrli1t,e1rXM0a; rscohd1e, mll eit-b--e--t- (t) Obllsetlou of laetrameBlelltiee cf tbe United Stater (I) OMlfetloaj of Federal lead beaka, Wot stock lend tanka, end Federe! intermediate eedll books Isned prte* to March 1,1W1..-- (J) ObUfeOou Imed by other Instrumental!tier at the United stem prior to Morcb 1. tl__________________ _____ ____________ _____ (1) OMlsotlooe of eB iutremecuatlet of tbe United Stelae Imed on or after Mrob 1, mi____________________________________________ 5.Other investments (itemise). 6. Capital assets: (a) Depreciable assets (itemise). Total depreciable assets. Leas: Reserve for depredation! (b) Depletable assets______ ___ ____________ Less: Reserve for depletion. (c) Land... 7. Other assets (itemise). Torii. A1112- _________ LIABILITIES 9. Accounta payf.bla.. 10. Bonds, notes, and mortgages payable: ( ) With original maturity of less than 1 year. ( ) With original maturity of 1 year or more11. Accrued expenses (itemise). *i& : vV . `'.s'l - 1' -V* sc 'TZ&Tt *:; }i-J* Schedule M.--RECONCILIATION OF NET INCOME AND -'ANALYSIS OF EARNED SURPLUS AND UNDIVIDED PROFITS l. Total distributions to stockholders charged to earned surplus during the taxable year: (o) Cub (6) Stock of tbe corporation, (c) Other property. 2. Contributions or gifts (excess over 6 percent limitstion) _____ ...___ ___.............. 3. Federal income snd excess profits taxes. 4. Income taxes of foreign countries or United States possessions if claimed u a credit in whole or la part la Item 36, page 1_________ 5. Federal taxes paid on tax-free covenant bonds. 6. Special Improvement taxes tending to Inorease the value of the property twill,.,, 7. Replacements, renewals, and capital expendi tures charged to expenses on Ute books. 8. Insurance premiums paid on the life of anv officer or employee where the corporation u directly or indirectly a beneficiary-- 9. Unallowable Interest Incurred In purchasing or carrying exempt Interest obligations. 10. Excess of capital losses over capital gains...- 11. Additions to surplus reserves (Ust separately): () .................. ............ (6) -------------------------------- (<fl .................................... 12. Other unallowable deductions: 13. Adjustments for tax purposes not recorded on books (itemise): M-------------------------------------------------------- 14.Sundry debits to earned surplus (itemise): () ........................------- ----------------------(6) 15. Earned surplus and undivided profits ss shown by balance sheet at close of tbe taxable year (Schedule L)........... .............. ....... ................... 16. Total of lines 1 to IS............................................ 171`Earned surplus and undivided profits at close of preceotag taxable year (Schedule L)------ 18; Net income before net operating Iocs deduc tion (item 32, page 1) 19. Nontexable interest on: (a) Obligations of a State, Territory, or political subdivision thereof, or the District of Columbia, or United States piwnrerinp* ----------- (b) Obligations of tbe United States: (1) Obligations issued on or before September 1. 1917; all poetsl savings bonds: Treasury Dotes issued prior to December 1, 1940; and Treasury bills Issued prior to Msreh 1, 1941 (2) United States savings bonds and Treasury bonds owned in tbe principal amount of 85,000 or . lees. Issued prior to March 1,1941. (e) Obligations of Federal land banks, Joint stock land banks, and Federal inter mediate credit banks issued prior to Mareh l, 1941________________ ______ 20. Other nontaxable Income (Hemlse): (a) ---------------- :----------------------------------0>)----------------------------------------------------------------------- 21. Charges against surplus reserves deducted from Inoome In the return (Itemise): () O) 22. Adjustments for tax. purposes not recorded on books (Itemise): (s)------------------------------------------------------------------------ ( 23. Sundry credits to earnsd surplus (itemise): (s)............................................................................... (8) ......................................... ........ ......... (<) $........................................ 24. Total of lines 17 to 23...............-........ ..... ........... i--uee-i u GI.D 045469 8 FORM 1120FY U. t. TrMWT DupNrtnuwrt lotarvul Rmu IlfHci COMPUTATION OF U. S. CORPORATION INCOME TAX For taxable years ending alter March 31,1951, and before December 31,1952 (other than calendar year 1951) 1951-1952 Taxable year beginning..H.TfRfe.*?!..l......... . 1950..,and ending...QtteNET.Ji.........195.1 Fill tlilt form will) ISM Fnn 1170 <1 taublt yew Iwjins In 1950. FO* vflb 1951 Fens 1170 if tsubli fj betias In 1951. 345; >u ii cciPOUriONt um me uomt ............... na.auaM.cQWAii.............................. (Ninel 1100X **4i*> ITOHM If Onto jnr bepin selsn July 1.1950. k tks pft nly. 1! tioMt jts begins n tr iftwJulyl. IS5C. k Kbe tMi mIj . cx................................ __________ FOR TAXABLE YEARS BEGINNING BEFORE JULY 1, 19S0 (A) COMPUTATION AT TAX RATE* APPLICABLE BEFORE JULY U U* NORMAL TAX COMPUTATION 1. Net income (item 34, page 1, Form 1120 for 1930)...................................................... ................... 2. Less: Interest oo certain obligations of the United States and its instrumentalities issued prior to March 1, 1941. (Enter total of items 9 00 ad W. PaS4 L For 1120).............. 3. Adjusted net income....................................................................................................................................... 4. Less: Dividends received credit. Enter 85 percent of sum of columns 2 and 3, Schedule E, Form 1120, but not to exceed 85 percent of the sum of line 3, above, and item 33, page 1, Form 1120.................................................................................................................... 5. Normal-tax net income.................................................................................................................................. 6. Normal tax. If amount on line 5 is: Not over $5,000; enter 15 percent of Hoc 5............................................................................................................... -......... 1 Over $5,000 but not over $20,000; enter $750, plus 17 percent of excess oveT $5,0CO.................................................... i Over $20,000 but not over $25,000; enter $3,300, plus 19 percent of excess over $20,COO............................................. , Over $25,000 but not over $50,000; enter $4,250, plus 31 percent of excess over $25,CCO......................................... 1 Over $50,000; enter 24 percent of amount on line 5............................................................... _...........................................' N67- .--The normal tax of foreign corporations engaged in trade or business within the United States is 24 percent of normal-tax net income, irrespective of the amount. '~ SURTAX COMPUTATION 7. Net income (Une 1, above)..................................................................................... 8. Less; Dividends received credit. Enter 85 percent of column 2, Schedule E, Form 1120, but not to exceed 85 percent of the sum of line 3, above, and item 33, pare 1, Form 1220, excluding from the com putation certain dividends received on preferred stock of a 9. Dividends paid on certain preferred stock if taxpayer is a public utility.................................................................................................. 10. Surtax net income...................................................................................................... 11. Surtax. If amount on line 10 is: '------------------------------ ` Not over $25,000; enter 6 percent of lioe 10 (8 percent if a consolidated return)..........................................................1 Over $25,000 but not over $50,000; enter $1,500, plus 22 percent of excess over $25,000 ($2,0CQ plus 24 percent of ( excess over $25,000 if a consolidated return)............................... ..................................................................................... ( Over $50,000; enter 14 percent of amount on line 10 (16 percent if a consolidated return)............................. . . / 12. Total normal tax and surtax (Hoe 6 plus line 11).......................................................................................................... 13. Line 12, multiplied by number of days in the taxable year before July 1,1950, divided by number of days in the taxable .2y5ear. ....................................................... .................................. ........................................................................................................ 1 $.. ( ) COMPUTATION AT TAX RATES APPLICABLE ON AND AFTER JULY i, MS. AND BEFORE APRIL 1. UU 14. Net income (item 34, page 1, Form 1120 for 1950). 15- Less: Dividends received credit-- (a) Enter 85 percentofcolumn 2, Sched ule E, Form 1120.......................... - (b) Enter 59 percent of column 3, Sched ule E, Form 1120. Total dividends received credit. Enter sum of (a) and (b), above, hue not to exceed 85 percent of the excess of item 32, page 1, Form 1120, over the sum of items 9 (<) and 9 (i), page 1, Form 1120.................................................................... . 16. Crcdi t for dividends paid on certain preferred stock if taxpayer is a public utility....................................................................................... 17. Credit for Western Hemisphere trade corporations........................ . 18. Surtax net income. 19. Combined normal tax and surtax. If amount on line 18 is: Not over $25,000; enter 25 percent of line 18 (27 percent if a consolidated return)......................................................| Over $25,000. Compute 45 percent of line 18 (47 percent if a consolidated return). Subtract $5,000. Enter , difference ................................................................................................................................................................................. .. 20. Less: Normal tax adjustment for partially tax-exempt interest; enter 25 percent of the sum of items 9 () and 9 (f), page I, Form 1120, but not in excess of 25 percent of line 18, above.................................................................. 21. Total normal tax and surtax............. ................................................................................................................................................ 22. Line 21, multiplied by number of days in the taxable year after June 30,1950, and before April 1, 1951, divided by num- ber of days in the taxable year..................................... .......................................................................................................................... (C) COMPUTATION AT TAX RATES APPLICABLE ON AND AFTER APRIL S, USX 23. Net income (item 34, page 1, Form 1120 for 1950).... 24. Less: Dividends received credit-- (a) Enter85percentofcolumn2,Sched- ule E, Form 1120......................... (b) Enter 62 percent of column 3, Sched ule E, Form 1120............ ............... (c) Enter 85 percent ofdividends received from certain foreign corpora tions ................................................. GLD 045470 2526. Total dividends received credit. Enter sum of(a),(b), and(c), above, but not to exceed 85 perceot of the excess of item 32, page 1, Form 1120, over the sum of items 9 (*) and 9 (i), page 1, Form 1120.......................................... ........................ Credit for dividends paid on certain preferred stock if taxpayer is a public utility.............. ........................................................................ Credit for Western Hemisphere trade corporations. ...................... 27. Surtax net income. $- 28. Combined normal tax and surtax. If amount on line 27 is: Not over $25,000; enter >0 percent of line 27 (32 percent if a consolidated return)...................................... .............. I Over $25,000. Compute 50 percent of line 27 (52 percent if a consolidated return). Subtract $5,000. Enter ? difference .................................. ..................................... ................................................................................................ / 29. Less: Normal tax adjustment for partially tax-exempt interest; enter 30 percent of the sura of items 9 (a) and 9 (i), page 1, Form 1120, but not in excess of 30 percent of line 27, above................................................................. 30. Total normal tax and surtax............................................................................................................................................................ 31. Line 30. multiplied by number of days in the taxable year after March 31, 1951, divided by number of days in the taxable year ........................................ ............................................... 32. Total of lines 13, 22, and 31............................................................................................................................................. 33 T89) rax .''line 32, or alternative rax, whichever is lesser). Enter here and as item 35, rag L Form 1120 If taxable y<lwt*bmfailnmd btcHffat'dtuAlapnrftallr,alnMcaLt IaInUnIt1MHt1lMranceDrsamndet.. Ifirtatuir<tklalmyerbbvtf1winInanIS*Mr ainwM1taArHIr1l.USCtH, Wawt MandmKhitn.daiialrr.yat(.11JM 3bTarm>1Ia1ae)tlon C n1y. <0) COMMUTATION AT TAX RATES APPLICABLE ON AND AFTER JULY U UM, ANO SEFORE APRIL i ts 1. Ncc income (item 34, page 1, Form 1120), Less: Dividends received credit- (a) Enter 85 percent of column 2,Sched ule C, Form 1120.......................... to.. (b) Enter 59 percent of column 3, Sched ule C, Form 1120.......................... (c) Enter 85 percent of dividends received from certain foreign corporations.................................. Total dividends received credit. Enter sum of(a),(b), and(c), above, but not to exceed 85 percent of the excess of item 32, page 1, Form 1120, over the sum of items 10 (*) and 10(4), page 1, Form 1120...................................................................... Credit for dividends paid on certain preferred stock if taxpayer is a ro11*KX public utility..................................................................................... 4. Credit for Western Hemisphere trade corporations........................ U901 TO _5___S_u__rt_a_x_ net income..................................................................................................... 6. Combined normal tax and surtax. If amount on line 5 is: Not over $25,000; enter 25 percent of line 5 (27 percent if a consolidated return).................................................. Over $25,000. Compute 47 percent of line 5 (49 percent if a consolidated return). Subtract $5,5CO. Eater difference............................................................................................................................................................................... 7. Less: Normal tax adjustment for partially tax-exempt interest; enter 25 percent of the sum of items 10 (a) and 10 (O. page 1, Form 1120, but oot in excess of 25 percent of line 5, above........................................................ 8. Total normal tax and suttax............................................................................................................................................................ 9. Line 8, multiplied by number of days in year after June 30, 1950, and before April 1, 1951, divided by number of days in the taxable year..........491/JwO .Ifcfl.................................................................................................... 6,7*7,27? *0 $........... .......... cu7wT*"r|Bw^ WSWifWjTO^ <E) CONFUTATION AT TAX RATES APPLICABLE ON ANO AFTER APRIL t, 1M1 10. Net income (item 34, page 1, Form 1120). Less: Dividends received credit-- (a) Entcr85percentofcolumn2,Sched $ UfW. ro ule C, Form 1120............................ (b) Enter62 percent of column3,Sched ule C, Form 1120............................ (c) Enter 85 percent of dividends received from certain foreign corporations..................................... Total dividends received credit. Enter sum of(a), (b), and(c), above, but not to exceed 85 percent of the excess of item 32, page 1, Form 112Q,ovet the sum of items 10 (a) and 10(4), page 1, Form 1120....................................................................... Credit for dividends paid on certain preferred stock if taxpayer is a public utility....................................................................................... 13. Credit for Western Hemisphere trade corporations.......................... 14. Surtax net income TO 15- Combined normal tax and surtax. If amount on 14 line is: Not over $25,000; enter 30 percent of line 14 (32 percent if a consolidated return)...................................... Over $25,000. Compute 52 percent of line 14 (54 percent if a consolidated return). Subtract $5,500. Enter difference................................................................................................................................................................. 16. Less: Normal tax adjustment for partially tax-exempt interest; enter 30 percent of the sum of items 10 (,) and 10 (4), page 1, Form 1120, but not in excess of 30 percent of line i4, above........................................................ 17 Total aormal tax and surt.-x (If taxable year begins on or after April 1, 1951, enter tax here and on line 20 disre garding line 18)............................................................................................................................................................................... 18. Line 17, multiplied by number of days in thi^^x^^y^^aftcr March 31, 1951, .divided by number of days in the taxable vear1 2 SC7,509,915 $...................... 1........ 7,5W,915 50" i,wyt070 97 19. If taxable year begins on or after July 1, 1950, and ends after March 31, 1951, enter sum of lines 9 and 18.................. 20. If taxable year begins on or after April 1, 1951, enter amount shown on line 17.............................................................. 5................ ........ 21. Total tax (line 19 or 20), or alternative tax, whichever is lesser. Enter here and as iccro 35, page 1, Form 1120 ... INSTRUCTIONS (Retraces rs to lf Irtlinul Rmnut Code, softs; Mnhi *W| 1. Taxable Year* Beginning Before July 1, 1950.--If the taxable year begins prior to July I, 1950. and ends after March JI, 1951. the tax should be computed by using Sections (A), (B), and (C). In computing the tentative taxes under Sections (A 1. ( B). an.! (Cl rise net income is not recomputed. For computation of credit in the case of dividends received from certain foreign corporations, see instructions < pages 7 and 8) for 1951 Form 1120. In the care of a public utility corporation which has paid dividends on its pre. ferred stock, line 9 in Section (A) provides for the allowance, in computing surtax ret income, of an amount equal to the dividends paid on certain preferred stock. On Tine Id in Section (B) there should be entered an amount equal to 51 percent of the lower of (a) the amount of dividends paid on certain preferred stock of a public utility corporation or {b) rhe excess of the public utility corporation's adjusted net income over its dividends received credit. On line 25 in Section (C) there should be enured an amount equal tn 27 petcent of the lowtr of (a) or (b). A Western Hemisphere trade corporation should compute its tax in Section (A) without computing a surtax, and its normal tax should be computed without regard to rnv credit under section 26 (r). On line 17 in Section (8) there should be entered in .norHinr equal m 51 perecrl of the normal.tax net income computed without regard 'o `'Kb amount. On line .'6 in Section (C) there should be entered an amount eqinl to 27 percent of such normal-tax net income. The credits illou.d in computing surtax net income and the surtax rate provided in the Fvee<s Fronts Tax Act of 1950 are not effective with respect to the computa tions ,,f the credits and tax under Section (B). 2. Taxable 5*ears Beginning On or After July l, 1950.--(a) Taxable yean hi jo'i April I. 195/.--If the taxable year begins on or after July 1, 1950. and ends afier April I. 1951. the tax should be computed by using Sections (6) and (Pi. In computing the tentative taxes under ID) and (E) the net income is not recomputed. For computation of credit in the case of dividends received from cer tain foreign corporations, see instructions (pages 7 and 8) for 1951 Form 1120. Tn the case of a public utility corporation which has paid dividends on its preferred stork, there should be entered on line 5 in Section (D) an amount equal to 50 percent of the lower of (<t) the amount of dividends paid on certain preferred stock of a public utility corporation or (4) the excess of the public utility corporation's adittsred net income over its dividends received credit. There should be entered on line 12 in Section (E) an amount equal to 27 percent or the lower of () or (4). A Western Hemisphere trade corporation should enter on line 4 in Section (D) an amount equal to 50 percent of the normal-tax net income computed without regard M <uch amount. On line 15 in Section (E) there should be entered an amount equal to -' percent of such normal-tax net income. 111 T.fe.tUe War; Betm'iine O* or After April 1, 195/, tul Before January 1, ;52 --If the taxable year begins on or after April l, 1951. and before January I, lus'. 'he combined normal tax and surtax should be computed in Section (E). For computation of credit in the case of dividends received froti) certain foreign corporat>on. see instructions (pages 7 and ) for 1951 Form 1120. In the case of a public utility corporation or a Western Hemisphere trade corporation, the credit on line 12 or !1 is computed io the same manner as outlined for such line in subparagraph (a). Alternative Capital Cains Tax.--(a) hr General.--In any case in which a corporation has an excess of net long term capital gams over net short-term capital |o*es. the alternative tax under Section 117 (r) (I) will be tn amount equal to the sum of the portions of the tentative taxes determined under Section 108 (/) or <g ) bv computing each tentative tax in accordance with rhe alternative tar computa tion provided in Section 117 (r) (I). regardless of whether each tentative tax so -..-ipuied on the alternative basis is larger or smaller than the tentative tax computed - Ti.out rectr 1 to Sr,"ion 117(0(1), A statement showing the computation of sltemvisr tar should he ai'-nhcd to separate fvhrdute D (Form 1120). I ' 1 T, ' 7 7 ,. ,(./.- Vein p. u..n, fief-e ft,11 !. 1010 --A tenia. live partial tax may be determined for each period by subtracting the excess of net long-term capital sains over net short-term capita! losses for the taxable year from-- (1) lines 5 and to and using the tax rates shown in lines 6 and 11, Section I A); (2) line IS and using the tax rates shown in lines 19 and 20, Section I B), (3) line 27 and using the tax rates shown in lines 28 and 29, Section (C). The tentative alternative tax for each period wdl be the amount of each tentative partial tax so computed plus, for each such tax. 25 percent of the excess of ncr long, term capital gains over net short-term capital losses. The portion of each tentative alternative tax raj be determined by multiplying such tax by the number of davx m the applicable period and dividing by the number of days in the taxable year. (See lines 15, 22. and 31.) The sum of the portions of each tentative alternative tax <o computed will be the tax under Section 117 (r) (t) and should be entered on line 55 if less than the total tax on line 52. (t) Texiolive Taxes for Taxable Years Beginning Before Ap'd 1. (9J;.--A tenta tive partial tax may be determined for each period by subtracting the excess of net long-term capital gains over net short-term capital losses for the taxable vear from-- (1) line 5 and using the tax rates shown in lines 6 and 7. Section ID): (2) line 14 and using the tax rates shown in lines 15 and I A, Section ( F). The tentative alternative tax for each period will be the amount of each partial tax so computed plus, for each such tax. 25 percent of the excess of net lung term capital gains over net short-term capital losses. The portion of each tentative altern.vive nr may be determined by multiplying such tax by the number of days in the appluahlc period and dividing by the number of days in the taxable year. (See lines 9 and it 1 The sum of the portions of each tentative alternative tax so computed will be the tax under Section 117 (e) (1) and should be entered on line 21 if less (ban the total norma! tax and surtax oo line 19. (d) Alternative Tax for Taxable Yeart Beginning On o' After April 1. J957. and Before January I, !9i2.--A partial tax may be determined by subtracting the c'Crss of long-term capital gains over oet short-term capital josses for the taxable year from line 14 and using the tax rates shown in lines 15 and 16. Section (E). The alternative tax will be the partial tax plus 26 percent of such excess. 4. Use of form 1120 (1950 or 1951) and Form U2nFY ( 1951-1952).--A me. poration having a taxable year (a) beginning before July I. 1959, and ending after March >1. 1951, (4) beginning on or alter July 1, 1950. and ending after Match 51. 1951. or (r) beginning oo or after April 1, 195 l, must use Form II20FY (19511952) to compute the normal tax and surtax for its taxable year. Tn such cases the tax computations on page 5 of Form U20 for 1950. Form t I29FY, and Schedule FY (Form 1120) should be disregarded. Corporations having taxable years beginning in 1950 should use Form 1120 for 1950 to compute the net income, fdhng in all applicable items and schedules. Corporations having taxable years beginning in its i should use Form 1120 for 1951. Form 1120FY ( 1951-1952) should he filled in. attached to. and made a part of such form. In the case of a taxable year ending after March 31. 1951. but before Oct* her I1951. the date of filing the return and paying the rax imposed bv chapter 1 fnt such taxable year is January 15. 1952 Even though a taxpayer has filed a cmp-uaticn income tax return on or before October 20, 1951 (date of enactment of (he Revenue Act of 1951). the Act requires every corporation (except those specifically exempted Slaw) to file a return after the date of enactment of the Act. Accordingly, no return such a corporation with rrspect to taxes imposed by chapter 1 for such taxable year which was filed on or before October 20. 1951, will he considered a return for such year. The total tax for such taxable year is due and payable on January I', 1952, or. at the election of the corporation, may be paid in four installments (first two installments, 50 percent of the tax. and last two installments. 20 percent of the tax) All payments nf m made on nr before October 20, 1951. with respect tn such taxable year, tn the extent oot credited or refunded, will he applied to the January 15, 1952, installment and any excess wdl he applied tn sirccerd.ng insiajlmm's i /hcwi SCHEDULE C (Form MM) US. Tumry D^vtmwjt lataraa] Re*aasa Sank* UNITED STATES SCHEDULE OF CAPITAL GAINS AND LOSSES For Calendar Year 1950 Or fiscal year beginning --teiAitl.--------, 1950, and ending___<Wte*rJ3. 1951 (losuraace companies using thU form am footnotes 1 to 3. Inclusive) This schedule must be filed with and as a part of the corporation's income tax return. Form 1120 or Form 1120M, for the tax* able year. In case of sale or exchange of capital assets.' FRIWT PLAINLY CORPORATION'S NAME AND _____________m auBBnewai_________ OM^aO.) .ffhmljjM.g. (City w*MN. QoCal JW#_ Qam) Do not file this form if the corporation did not sell or exchange any capital assets during the taxable year. 1. Dooortpttoft ct Property l Data Aecotrad X Data Sold Mo. Dar Yaar Me. D:; Tarn 4. Graaa SaHa Prtoa (Cootracf Pdoa) L DneMat1nB Aflowad (or anombia) Slaoa 1 AaqeMOoaar Koch L int j (TnrsMi OattOU ta C* or Otbar Bttt i-o<<d Cos d laprov*U Butmcaml to or Utrtfc 1. 19U SHO IT-TERM CAFITAIL CAINS AND LOSSts--ASSETS HELD FOR NOT MORS THAN S MONTHS 7. Kjpmw of ...... ............................................................. ......-................ .SWaBet-a|axlaWoHoWk lg -- ML! -- -- -- ................................ .................................. -- -- -- -................- 1. Totals . . ___ ___________ 3. 2. Net short-term eapitai gain (or loss) (oolomn 4 plus column 5 minus the sum of ectlnmnsA and 7 Hne 11 8. Net capital loss carry-over * (atti 4. Total net short-term capital gain (or loss) -- ______ _______ ________ ___ . LONG-TERM CAPITAL GAINS AND LOSSES-ASSETS HELD FOR MORE THAN t MONTHS -- *=^B 71" W 3.! IT 3.------------------ .......... fir i1 ! pd M * -- -- -- ___ _______ ___ 5. Totals.......... ................... ............................................................... ........--_ 6. Total net long-term capital gain (or loss) (ooluma 4 plus column 5 minus the sum of oo umns 6 and 7, me S -- idip L CUMBtASM 7. Total net short-term capital gain (or loss) from line 4, above______.................... ......................... XI Oant os Los To Ba Taco two Atrocw (a) Oats (b> Ua> j WiM)7T 8. Total net long-term capital gain (or loss) from line 6, above.................................................... --......... 3---------- TM 3.......................... 9. Total net short-term capital gain (or excess of net short-term capital gain over net long-term capital Ices) (lice 7, eoL 2 (a) minus line 8, coL 2 (b)). (Enter as item 12 (a), page 1, Form 1120*)_______ __ S XXXX XXX X X 10. Total net long-term capital gain (or excess of net long-term capita] gain over net short-term capital loos) (line 8, col. 2 (a) minus line 7,ool. 2 (b)). (Enter as item 12 (b), page 1, Form 1120 ') 11. Net loee in column 2, lines 7 and 8. (No net lose allowable).--.................................................. ................... , w,nt 9k s. . ... ZXXX X XX X X XXXXXXX X X $.......... ................ COMPUTATION OP ALTERNATIVE TAX FOR CALENDAR TEAR IMS (hr M haUa m sd* rftw Isa M, IMS, aad Mm it iv XL 1*1 m UnS Pww 1UMY) IBt LUO B ID S 0HJ V U tXOWT B BTOUB SI UR Ifc U0TL1XS UR L NS L TOO IDE BODS RUM 12. Surtax net inoome (line 5, page 3, Form 1120)____________________________________________________________ ___________________ 13. Lees: Total net long-term capital gain (or excess of net long-term capital gain over net short-term capital lose) (line 10 of summary above).----..--.--.--.--..----________ . . ________ ..... 14. Surtax net inoome for purpose of alternative tax. IS.Combined normal tax and surtax. If amount of line 14 is: Not over 328,000; enter 23 peroent of Une 14 (28 percent If a consolidated return). Over 328,000. Compute 42 peroent of Une 14 (44 percent if a consolidated return). Subtract 34,750. Eater differed 16. Lees: Normal tax adjustment for partially tax-exempt interest; enter 23 peroent of tbs sum of items 9 () and 9 (i), page 1, Form 1120, but not in exoes of 23 percent of line 14, above--. 17. 8virtax adjustment for partially tax-exempt interest. If amount of line 14 is: Not over 328.000; enter aero.--..----------------------------- Over 325,000; enter 1 peroent of the leaser of (a) sum of items 9 (a) and 9 (8), page 1, Form 1120, or (b) Une 12 minus 325,000................. ................................. 18. Partial tax_ 19. 25 peroent of line 13, above--............. 20. Alternative tax (line 18 plus line 19). 21. Normal tax and surtax (line 9, page 3, Form 11X). 22.Tax liability (line 20 or 21, whichever Is leaser). Enter ss Une 10, page 3, Form li20_ =>Non 1 "Net capital Iota." with raapaet to oon^anlaa laiabta tmdwacUoo or aaclloD XP (a> (1) er (. mnsa tba aaooit jrr vbtcfc the team tor the tuabla raer (reel ealee c r cxcb*j\(a _ )tsfu fioed lb Aia oi tb4C*Joj from g mimr4ieb&fa end lbkararof (1) lb*ODTpormtlooort*s oat moan# (ooaputad vlthoot to gaio _l_o_a_a_ae_ from _eaha o_r erch_a__a_ fn Mat eapi^tai aioru) ^or (?) loom frecn it *l* Of 9uii*nf of <opit*J mmU oid or toobuia ftioda to start aboormaJ taicnoca Loaaai od < prorldo lor lb* p&7vtoI dlrtdaod* tod rtaiW dwfeutfcei to pU*yrldar* 3, For eDiapa&lm (Arabia oadar actios 307 <) (I) or ^3). aD fd>KW Id **Un** cr^toa** aottbon. Form 1130, gfe*n b* apearidwod ** Ii rill ba eaeasaarv lor ooeb eoapaota to ratotlttta. Is Hoe of Him It to It ladrnle*. a comportion eoofermlai to tiat os pasa 1 of Term 1U0M. fa>t&g frpTBprtoto 'lio*'* to Fern tISOMa a^rananrt mmm 4 GLD 045472 3Asdal. EF-4.--EXCESS PROFITS CREDIT BASES ON INCOME Tirim.l rEAKS KKDCNO *rrr* Mum a. ML AND BCTORg DgCCMBBB L ?L Caunu T - Ml @T - BAB- r Cumu Tua MT Tin tae X Cumu Taut CD EF4. Cg 1_***AA 7ui M 1 FacEi T m $ Te a m TUI KM _ ....... m G3. Net opertun* J - * dedoetion uwd fa w. ESst*. U6 w V.lrfi.481 H 1,97,S*7 99 V,n7^i3 7 3. Xt koai to wbfeh aaetioo 11? (i) 4. Deductions on account of retirement or dbeharge of bootfa, etc ._____________ 5. Deductions under rtmriu method for 6. Federal income taxes paid by lessee under long-term lease._______________ 7. Repayment of processing tax to vendees- 9. Aboorma] judgmt dedoetfeoB, ete. 10. Abnormal expenditures for intangible drilling and development casta (at- 11. Abwn&at ontfltj, detpofttioo, tad lit 9k. L _________ MM A* ________SAfiS 75 3f.8Jt2 j 13. Other abnormal deductions (attach 13. Adjustment of assessments paid by banks to Federal Deposit Insurance 14. Capitalisation of expenditures for ad> rertisrng or promotion of good wSl 15. Total of lilies 1 to 14, inclusive.... ......... ..... 16. Dividends received (excluding dividends from foreign personal bolding com panies. and oc stoek which b not a W KalMhlK. St lkl *> e 1-691 n 17. Set gain from sale or exchange of capital uffna at. \%. Income from ToUwDenl or dfeehirge of M fit 9f_ * 6^30 2? St _______96M. kt. 5 k 19. Federal income taxes received by basor 20. Debts whieli actually became worthless during the year, in the ease of banka-- 21. Total of bites 16 to 20, inetrmve 1 TTfaftffi i nor r 22. Excess profits net income (or defieit) ncomputed without regard to dedac tions applicable to Efe insurance com- 2^*23,75 n,tn9m 67 23. Deductions applicable to life insurance HI--t . ss S...UQ1I17. 7t TZ355I S M p,311, 718 0 24. Excess profits net income. Line 22, or line 22 minus line 21 in ease of hfe insurance companlea. (Substitute aero Vtt5a75 7t for defieit u> anv war) *7 in Tt,roiw.rn,eMeisii,ab. 26. Average base period net income--General svmage (ban 25 divided by 3) . 1 27. Monthly average (line 24 divided by number of months in taxable year) 3.8*7,8321 28. (o) Number of months after Dec. 31,1945, and before Jao. 1, 1950, in each tax able year (fiscal years ending January, February, and March, ' )50, see 30 is so 88 13,311*718 0 . * .t 832,711116 *1*109,30$ g tt 3S t (i) Enter from (a) the highest 36 con secutive months or the 38 mouths remaining after sllmlMtfag lowest 12 32 29. Line 27 multiplied by line 28 (5)........ ..... |7 30. Excess profits net income for 36 months (sum of Amounts on line 29) ............. .... -- 31. Average base period net income--General avenge (amount on tine 30 divided by 3)_____ IS 8 3_____________ ...... *.*#4*e5? U*M B thwnh 41 OfOJT If ! (Available only U> a taxpayer which commenced business prior to the first day of its base period--January 1, 1946, in aC cases, except where taxpayer's last taxable year ending before July 1, I960, began in 1949 and coded January 31, February 28, or March 31, 1950, in which ease the first day of its base period is February 1, March 1, or April 1, 1946, respectively) Fill in line 33 (a), (5), and (c) only if line 32 b 320,000,000 or less. L TJKg L rinou X Osom Brans . . ._ .% ............................. Fill in lines 34 through 41 only if tine 33 (e), column 1, b 130 percent or more, or column 2 b 150 percent or more, or if the test regarding products not generally available prior to 1946 b met (see instructions). 38. Excess pro6ts net income for last 6 months of 1949 (see instructions)............................ 39 Rum of linee 37 and 38 40. Average base period net incon Alternative baaed on growth (line 35. 36, or 39 whichever is largest) 41. 85 percent of line 40................. 43. 12 percent of base period capital addition (line IS, Schedule F.P-2 (A)) 44. Total of linn 42 and 43 .................................................................. .................................................. 45. I.ine 41 or line 44, whichever is applicable............_.............................................................................. 46. 12 percent of net capital addition for the tillable year (line 20, Schedule BP-3 (B))........ ........... 47. Total of linn 45 and 46......................................................... ..................................................................... 48. 12 percent of net capital reduction for the taxable year (line 24, Schedule EP-2 (B))................. 49. Excess profits credit based on income (line 47 minus line 48). Enter on line 24. Schedule EP-I 3........................ 3........................ , -y 'x Jt SJ,*! #5*S 5* GLD 045474 Fv-alrh SA.Jal. EM (AL--BASE PERIOD CAPITAL ADDITION 2. Total liabilities at beginning of year 3. Equity capita) at beginning of year (tine 1 minca toe 2) 4. 75 percent of borrowed capital at beginning of year. 5. Total of line** 3 and 4.................. (. Adjustment for interest oe borrowed capital 7. 75 percent of line 6____________ 8. Inadmissible assets held at beginning of year reduced by 25 percent of tbe exe any, of lbe inadmissible assets over the anaoit oa line 3___ 75 percent of loans to members of controlled groups at beginning of year.. Total of line* 7. 8. and ..... ...... ......................... 11. Yearly bene period capital (line 5 minus bite 10)... gBwit,s538orr 12 Frcm, if any, of eolnmn I, line II, over tbe higher of: (s) coinmu 2, fine II; or (V) eotwmn 3, fine II_ 13. 50 percent of excess, if any, of (a) eolnmn 1, line II, or (5) column 2, fine 11, whichever is lower, over eoiamn 3, fine II. I Jni3Sn3.lv 14. Base period capital additioo (som of fines 12 and 13) -------- --------- ------------------------ ....----- . u Sl u i 15. 13 percent of line 14. Enter on fine 43, 8ebednls EP-2 --- - - F- - olr > rwi^adae . Schedule EM (B)--TAXABLE YEAR CAPITAL ADDITION OR REDUCTION as*, mi 1. Eq^uityeapital at beginning of first taxable year ending after June 30, 1050: Total a.aeta_ (6) Leea: Total UabRitwa............................. ........................... efyihielW ST. ...UaMMI. L_ Equity capital at beginning of the taxable year: (o) Total asseta______________ _______________________ _____ (5) less: Total liabtfitiea- &S&M is*ma3i BhBi..L. 3. Borrowed capital at beginning of first taxable year ending aft June 30, 1950._____________________ . _____ 4. Average daily amount of borrowed capital for tbe taxable year (attach statMoeot)__________ . 5. Average daily amount of money and property paid in during tbe taxable year for stock, or as paid-in aorphia, or as a contri bution to capital (attach statement)___________________________________________ .. 6. Excess, if any, of line 2 OTer fine 1_________________________ ____________________________ _________.. 7. 75 percent of eicws, if any, of fine 4 over fine 3_________ 8. Average daily capital additioo (sum of linen 6, 6, and 7). 9. Average daily amount of distributions during tbe taxabte year not out of earning* and profits of soeh year (attach statement)__ 10. Excess, if any, of line I over line 2___________________________________ _______ _____ 11. 75 percent of excos, if any. of fine 3 over fine 4___ --. .. _______ 12. Average daily amount of increase in certain inadmissible assets faeid by mmnber of eootroDed group.. 13. 75 percent of average daily amount of increase in loans to member of controlled gwwrp 14. Average *<Hy capital reduction (am of fines 9, 10, 11, 12. and 13) __________ IS. Total inadmirable assets at beginning of first taxable year ending after June 30, 1950. IS Average daily amount of insdmcwible assets for tbe taxable year (attach statement)__ 17. Excess, if any,.of line 8 over tine. 14.................................... ............ ...... .................................... 'US? 53, 1,006,571 r~la ytr 18. (s) Excess, if any, of fine 16 over tbe sum of lines 12 and IS ............ .......... (5) Lise 17 minns line 7!___ . . , ____________ (e) Excess, if any, of line to) over line (i)___ _______ __ -.. ....... ...................... (d) 25 percent of line ()_______________ ____________________ () Line (a) minus line (d)............................................................................................................ 19. Net capital addition for the taxable year (line 17 minus line 18 ())_____ 20. 12 percent of line 19. Enter on line 46, Schedule fcP-2_________________ 21. Excess, if any, of line 14 over line 8.-- 22. (o) Excess, if any, of line 15 over line 16______________________________ (b) Line 21 minus sum of lines 11 and 13--. (e) Excess, if any, of line (e) over line (5)_ (d) 25 percent of Use (e)---------- ----- ----------(e) Line (a) minus tine (d)__________ . 23. Net capital reduction for the taxable year (line 21 minos line 22 (<))24. 12 percent of line 23. Enter on fine 48, Schedule EP-2-------------------- *43*5*V_ TKWW" i:zw&s. w* U6,312 n Schedule EP-3.--ALTERNATIVE EXCESS PROFITS CREDIT OF REGULATED PUBLIC UTILITIES (Section 448) wia cr matxnm Tbo fTjiiywr harokgr ua toaradi* Maod th* fedstarloil laiwtul opitoi voter Mmmiaw XaaiMfteuS*e>. rawnnio M NOupon tte iwii that tbo of ate pf iHI will protest ito loooot profit* tax m bflptorl - I mmm profit* JiodH Hdl9 todo rotor* i m4 ilUod ft for-oil too arodita todto wv to ftvoilablo to th twpptoy tto ri*ht 1* woorttol-- mtmd, aad olootlan la *ad, to pay tax mater wfcatrvar orodlt* aa lator tetoralnod by tha tarooa ar athonrlao, rooolts ia tho 1--or tax* GLD 045475 Schedule EP-4,--EXCESS PROFITS CREDIT BASED ON INVESTED CAPITAL Ha. Urtss 1 <hreu(h >7 for Uann using "oust" motkag. 1. Equity capful at beginning of the taxable year: $..................... 2. Average daily amount of money and property paid in during the taxable year for stock, or as paid-in urplus, or is a contribu- 3. (a) Average daily amount of borrowed capital for the taxable vear (attach sUtement)................. $......................... Unn 9 through IT to* u n n>y tf imftUAt on lift* 7 U o**r tf.900.IMa *......................... 13. Average daily amount of excluded capita! paid in during the taxable year (attach statement)..... ................................................ $......................... (5) Excess, if any, of line 15 (a) over line 8--.............................................................. *................... $............... $...................... ' *......................... $....................... $......................... $........................ ... $.......................... 17. Average daily new capital addition (sum of lines 14, 15 (5), and 16 fe>)...... ................................................................................. $......................... $......................... $,........................ ' 21, Average daily capital reduction (sum of lines 18, 19 (b), and 20),............. ...................... ............................................................ S......................... i......... $......................... 1.......... $..........................1.......... $......................... .................... (>) If an amount is entered on line 16 (c), enter the excess, if any, of line 24 over line 16 (c).......... $......................... $......................... 1... .... id) 25 percent of excess, if ifny. of line (a) over lipe (b) or line (e), whichever is applicable.............. $......................... 1.......... it) Line (a) minus line id)........................................................................................................................................................... ...... Net new capita! addition (excess, if any, of line 24 over line 2S (e)). Line 7 minus line 26...................................................................................... LIPQP II tHrouft SI for Uwrn the "Mitorkii" wdmi Equity Invested Capital at the Beginning of the Taxable Year Money paid in for stock, or as paid-in surplus, or as a contribution to capital_______ _______ Property paid In for stock, or as paid-in surplus, or as a contribution to capital....... ........ .......... Distributions of earnings and profits in stock of the corporation............................ ........... (n) Accumulated earnings and profits.......................................................................................... . (6) Adjustment for transferor's deficit under section 458 (0 (4)....................................-........... (c) Increase or decrease under section 472 (d) (1) on account of intercorporate liquidation......... (rf) Accumulated earnings and profits (line 31 (a) ss adjusted by line 31 (6) and (r))._.......... Increase on secount of intercorporate liquidation under section 472 fd) (2)...... ......................... Deficit in earnings and profits of another corporation under section 458 (d) (5)........ .................. Total of lines 28 to 33.............. ........................................... ...................................................... Less: Distributions made prior to the taxable year not out of accumulated earnings and profits__ Earnings and profits of snother corporation required to be deducted by section 458 (e) (3). Decrease on account of intercorporate liquidation funder section 472 (d) (2)...................... Deficit included in invested capita] of another corporation (section 458 (e) (4)}................. Total of lines 35 to 38................... ....................................................... ........ .............................. Equity invested capital at beginning of the taxable year (line 34 minus line 39)........... _............ Average Addition to Equity Invested Capital During the Taxable Year 41. Money paid in for stock, or as paid-in surplus, or as a contribution to capital.................................. . 42. Property paid in for stock, or ss paid-in surplus, or as a contribution to capital.............................. 43. Distributions of earnings and profits (other than earnings and profits of the taxable year) is stock of the corporation (see line 49, beiow)............... ............... .................................................................... . 44. Increase on account of intercorporate liquidation ufcder section 472 (d) (2)..................... ................ . 45. Deficit in earnings and profits of another corporation under section 458 (d) (5)................................. 46. Total additions in lines 41 to 45........... ........................................................................._.............. . 47. Total of lines 40 and 46...............................................................................--............ .................... Average Reduction in Equity Invested Capital During the Taxable Year Distributions not out of earning* and profits of the taxable year--............................ ................,,........... Stock distributions from accumulated earnings and profits at beginning of year (see lioe 43. shovel... Decrease on account of intercorporate liquidation under section 472 (d) (2)........................................... Deficit in earning* and profits included in invested capital of another corporation (section 458 (e) (4)). Total reductionsin lines 48 to 51................................................................................................................. Equity invested capital (line 47 minus line 62). 75 percent of average borrowed capital.!............ Average invested capital (line 53 plus line 64).. s......................... Line 7 or line 27, whichever is applicable (or line 55 if the taxpayer elects the "historical" method)..... Portion of line 56 not over $5,000,000.......................................................... Enter 12 percent. Portion of line 56 over $5,000,000 but not over 810,000,000................... Enter 10 percent. Portion of line 56 over $10.000.000............................................................... Enter 8 percent . Total of lines 57, 58, and 59............ .. ................................................................. Average daily amount of inadmissible assets for the taxable year..................... Average daily amount of total assets for the taxable year (attaoh statement) Percentage which line 61 i* of line 62........................................................................................................................ Reduction on account of inadmissible assets (line 60 multiplied by percentage on line 63)......................... Line 60 minus line 64....... ............. ................................................................. ............................................................ H line 7 i* more than $5,000,000, enter 12 percent of line 26 (applicable only to "asset" method)........... V profits credit based no invested capital dine 65 pln line 66). Enter on line 24. fielied'ilf EP-1 unawwi G LD 045476 SUHtuott tr {txm irzu) V. S. Trttiwrr Po--rmn\ lnlfol Rinif Wv Im COMPUTATION OF U. S. CORPORATION EXCESS PROFITS TAX For tanble year: ending aftsr March 31,1951, and befort December 31.1962 (other than calendar year 1951) fill Oils ttMflvilt as a part of ScMuto EPfFarm 1120) ler 1951. It txablt jrtar btflns in 1950. mo with 1950 form 1120. It taiabia par fttflns in 1951. At* with 1951 Form 1120. Taiable year bejlnninf ,...lteTnbr and ending ..Q**>bor 31............ 195 1 . Mint Ulmer eotrooTioai RST ant awtest TBS OUDDS* CCHFU? (STTIP> ...................................................... U901.ll44iU.#..*WSWi*................... (Str**t tod RViBbtf) Clovolaad 2. (<sl(y o** love, tow agnb*r) Ohio PART I. PRORATION OF AVERAGE BASE PERIOD NET INCOME 1351-T952 Avcr.i.cc base period net income from Schedule EP (Form 1120). (See Instructions)................ R? percent of line t . ............................................................................................................................ 8.3 percent of line !.................................................................................................................................. If the taxable year ends before July l, 1951, enter here the amount on line 2................................... If the taxable year begins after June 30, 1951, enter here the amount on line 3................................ If the taxable year begins before July t, 1951, and ends after June 30, 1951-- (./) I ine 2. multiplied by the number of days in the taxable year before July I, 195t, divided by the number of days in the taxable year................ 2o2/J^5%h$......................................... (/>) I ine 3. multiplied by the number of days to the taxabl^yjjaj, Ter^June 30, 1951, divided by the number of days in the taxable year .............32, (<> Total of lines (</) and (b)................................................... I me< l, s, or A (<-), whichever is applicable, (See Instructions) |$ 9f10,|il8 I....... fc.5i7,Sl i 16.gl,S?l!o6 JLMASk'-lS33,heg, 623107- 13,61?,9?7 $ 13j 619,W7 PART II. COMPUTATION OF MAXIMUM TAX FOR TAXABLE YEARS BEGINNING BEFORE JULY 1. 19S0 Excess profits net income (line 26. page 1, Schedule EP (Form 1120))...................................:............................................ Adjusted excess profits net income (line 30, page 1, Schedule EP (Form 1120))................................................................ 62 percent of line 1........................................................................................................................................................................... Using the front page of Form 1120FY (1951-1952) as a guide, substitute for the amount on lines 5 and 10 of that form the amount entered on line 1, above, and compute in accordance with the rates shown on lines 6 and 11. Enter the resuit here............................................................................................................................................................................. ............. j...... l ine -1. multiplied by the number of days in the taxable year before July l, 1950, divided by the number of days in the taxable year .............................................................................................................................................................................. Urine the front page of Form 1I20FY (1951-1952) as a guide, substitute for the amount on line 18 of that form the amount entered on line 1, above, and compute in accordance with the rates shown on line 19. Enter the result here...........................................................................................................................................................j$~'....... 7.7...........)... . 1 me 6. multiplied by the number of days in the taxable year after June 30. 1950, and before April t, 1951, divided by the number of'days, in the taxable year........................................................................................................................................ Using the front page of Form U20FY (1951-1952) as a 'guide, 'substitute'"Fof'`tfie' amount-1online'"27 6( that form the amount entered on line 1, above, and compute in accordance with the rates shown on line 28. Enter the result here . .....................................................................................................................................................57.......................... I. ' me 8. multiplied by the number of days in the taxable year after March 31, 1951, divided by the number of days in the t.rx:..itbie I dial of lines 5, 7, and 9................................................................................................................................................................. Excess of line 3 over line 10.............................................................................................................................................................. 18 percent of line 1 (if a consolidated return, see instructions).................................................................................................. o percent of line 2........................................................................................................................................................................... i i 1 ine 11 or 13, whichever is lesser, multiplied by the number of days in the taxable year after June 30, 1950, and before April i, 1951. divided by the number of days in the taxable year......................................................................................... line 12 or 13. whichever is the lesser, multiplied by the number of days in the taxable year after March 31, 1951, divided by the number of days in the taxable year..................................................................................................................................... Total of lines 14 and 15. (See Instructions).............................................................................................................................. * I !$. PART Ilf. COMPUTATION OF MAXIMUM TAX FOR TAXABLE YEARS BEGINNING ON OR AFTER JULY 1. 1950 Excess profits net income (line 26. page 1, Schedule EP (Form 1120))............................................................................... .[$ Adjusted excess profits net income (line 30, page 1, Schedule EP (Form 1120))................................................................ 62 percent of line 1........................................................................................................................................................................... Using the back page of Form U20FY (1951-1952) as a guide, substitute for the amount on line 5 of that form the amount entered on line I and compute in accordance with the rates on line 6. Enter the result here |$.................... |. Line 1, multiplied by the number of days in the taxable year after June 30, 1950, and before April l, 1951, divided by the number of days in the taxable year........................................................................................................................................ Using the back page of Form 1120FY (1951-1952) as a guide, substitute for the amount on line 14 of that form the amount entered on line 1. above, and compute in accordance with the rates shown on line 15. Enter the result here................ ..........................................................................................................................................:$............................ [.. . l.ine 6. multiplied by the number of days in the taxable year after March 31, 1951, and divided by the number of days in the taxable year............................................................................................................................................................................. Total of lines 5 and 7....................................................................................................................................................................... Excess of line 3 over line 8.............................................................................................................................................................. 18 percent of line l (if a consolidated return, see instructions).................................................................................................. 'n percent of line 2............................................................... ........................................................................................................... rm M Itaai II Mmi|h U, H IntWt rw iMtlm M* Apr* 1. SMI I me " or line II. whichever is lesser, multiplied by the number of days in the taxable year before April l. 1951. divided by the number of days in the taxable year........................................................................................................................................ 1$ I me in or line 11, whichever rs lesser, multiplied by the number of days in the taxable year after March 31, 19' l, divided i by the number of days in the taxable year............................................................ ..................................................................... L T'>al of lines 1 2 and 11 (See Instructions)..................................................................................................................................... :$ UVPHI < D SS. > !<*> r*r ttflm of *r ittir April 1, SHI I 1mein,.ril win. hmrr is the Irscer (See Instnu turns) ................................... ................................................................. _S G U > 045477 PART IV. ALTERNATIVE COMPUTATION OF MAXIMUM TAX FOR NEW CORPORATIONS 1. Excess profits net income (line 26, page 1`,'Schedule EP (Form 1120))..................................................................................... $! 2. If return is for one of the first five taxable years, indicate which year............................. .........and see instructions. (d) Enter applicable percentage.................................................................................................................................................% (b) Line 1. not in excess of $500,000. multiplied by the percentage on line (d)..................................................................................................... F.nter the excess of line 1 over $300,000 ................................................................................................................................................................................... I 15 percent of line J.............................................................................................................................................................................. ............... ......................... V 18 percent of line 3.............................................................................................................................................................................. ........................................ i. Adjusted excess profits net income (line 30, page 1. Schedule EP (Form 1120))............................................................................................................. " 30 percent of line 6.............................................................................................................................................................................. ........................................ 8 Enter either < i) line 2 (b) plus line 4, or (ii) line 7, whichever is lesser .................................................................................. ..................................... Line 8. multiplied by the number of days in the taxable year after June 30, 1950. and before April 1. 1951, divided by the number of days in the taxable year........................................................................................... ............................................................................................. ! ' Enter either ti) line 2 (i> plus line 5. or (ii) line 7, whichever is lesser ................................................................................. ] i Line If), multiplied by the number of days in the taxable year after March 31. 1951. divided by the numbe;o{ days in r j the taxable year................................................................................................................................................................................. ................................] 12 (.<1 If the taxable year begins before April l. 1951. and ends after March 31. 1951, enter here the sum of lines 9 and 11 .I (>>) If the taxable year begins after March 31. 1951, enter here the amount on line 10................................................................. | (r) If a computation has been made in Part II or III of this form, enter here the amount so computed................................ j; (J) Enter here the amount on line (a) or (b), whichever is applicable, or (r) if lesser, (See Instructions)......................... :$............................1....... INSTRUCTIONS (References are to the Internal Revenue Code, unless etherwlse noted) Schedule EP (Form 1120) FY is to be used by fiscal year taxpayers in conjunction with Schedule EP (Form 1120) for 1951. If the taxable yea' begins in 10'O it should accompany Form 1120 for 1950. If the taxable year begins in 1951 it should accompany Form 1120 for 1951. If the taxable year begins before July t, 1950. only Parts I, II, and IV (if applicable) are to be used. If the taxable year begins after June ^ WXYZ. only Parts I, III. and IV (if applicable) are to be used. The same rules apply to short taxable years. Part I is Jcsigned for computation of the portion of the average base period net income which is to be taken into account in computing the excess profits credit based on income. Parts II and III, respectively, are designed for the computation of maximum tax for taxable years which begin before July I. 1950, and taxable years which begin after June 30, 1950. Part IV is designed for computation of the alternative maximum tax for the taxable year, if such year is one of the first five taxable years of the corporation. It should be used, where applicable, in conjunction with Parts II and III in accordance with the above instructions. The figures determined by reference to this form are to be entered on Schedule EP (Form 1120) as indicated in specific instructions below. SPECIFIC INSTRUCTIONS The following instructions are numbered to correspond with line numbers in each part of this schedule PART I.--1. The average base period net income to be entered on this line is the figure determined by reference to Schedule EP (Form 1120) on line 30. 36, or 45 of Schedule EP-2; line 9 or 15, Schedule EP-5 (A) ; line 16, 20 (or line 28 if line 30 is applicable). Schedule EP-5 (8); line 9, Schedule EP-5 (C); line 8. Schedule EP-5 (D) ; line 7. Schedule EP-5 (E) whichever is applicable: or if the credit is determined under any of the sub sections of section 459,'the amount determined under such subsection. 7. This is the amount of the average base period net income to be taken into account in computing the excess profits credit based on income. The amount determined on this line should be entered in the appropriate line of Schedule EP (Form 1120) depending upon the method of computing the rxie's profits credit. If the excess profits credit is computed under the genera! average method (section 435 (d)), enter on line 47. Schedule EP-2. If computed under the provisions relating to growth (section 435 (e)), enter on line 46, Schedule EP-2 (A). If computed on Schedule EP-5, enter on line 10 or 16, Schedule EP-5 (A) ; line 17. 2t (or line 30 if appli cable). Schedule EP-5 (B) ; line 10, Schedule EP-5 (C) ; line 9, Schedule EP-5 (D) ; or line 8. Schedule EP-5 (E), whichever is applicable. If com puted under section 459. use the amount determined on this line in the computations made under the provisions of that section. PART II.-- 1. Excess Profits Set Income.--This is the figure determined on line 26, page I, Schedule EP (Form 1120) for 1951. In the case of a short taxable year this figure should be the annualized excess profits net income as provided under the regulations. 2. Adjusted Excess Profits Net Income.--This is the figure determined on line 30, page 1. Schedule EP (Form 1120). If the taxable year begins before July I, 1951. and ends after June 30, 1951, and the excess profits credit based on income is used, the adjusted excess profits net income is to be computed with reference to such part of the average base period net income as is determined under Part I of this schedule. 12. If a consolidated return, reduce the amount on this line by an amount which bears the same ratio (not more than 100 percent) to the 2 percent increase in surtax imposed by section 141 (c) as the consolidated excess profits net income bears to the consolidated surtax net income. 16. The figure determined on this line should be entered on line 34, page 1, Schedule EP (Form 1120). If Part IV of this schedule is appli cable, the figure on this line should be entered on line 12 (c) of that.part. If this is a short taxable year, see section 433 (a) (2) for reduction of this figure before entering it on Schedule EP (Form 1120). PART III.--1. Excess Profits Net Income.--See Instruction I. Part II 2. Adjusted Excels Profits Net Income.--See Instruction 2, Part II. 10. If a consolidated return, see Instruction 12, Part II. 14. See Instruction 16, Part II. of this schedule. 15. See Instruction 16, Part II of this schedule. PART IV.--See instructions for line 33, Schedule EP-1 (1951 Instruc tions for Schedule EP (Form 1120)) with respect to application of this schedule. t. Excess Profits Net Income.--See Instruction 1, Part II. 2. See instruction for line 33, Schedule EP-1 (Instruction for Schedule EP (Form 1120)), for determination as to which taxable year is involved and for applicable percentage to be entered on line (4). 12. (</) The amount computed on this line should be entered on line 34, page l, Schedule EP (Form 1120). v. a. covcirnT [[\]^^_` trrKt i**i o - GLD 045478 AND FEDERAL EXCESS POTlTS TAX SCHEDULE THE GLIDDEN COMPANY - CIEVEIAND, OHIO Fiscal year ended October 31, 1951 INDEX FEDERAL INCOME TAX SCHEDUIE Page 1, Form 1120 - Normal Tax Net Income Computation Page 3, Form 1120 - Computation of CorporationIncome Tax Schedule C - Computation of Alternative Tax Schedule A - Cost of Goods Sold Schedule B - Cost of Operations Schedule C - Capital Gains and Losses Schedule E - Income from Dividends Schedule lit - Other Income Schedule G - Bad Debts Schedule H - Taxes Schedule I - Contributions or Gifts Paid Schedule J - Depreciation - Depreciation on Machinery and Equipment - Emergency Facilities andAmortisation - Surplus Charges - Deferred Tax Deduction Schedule X - Other Deductions Schedule L - Balance Sheet - Assets - Balance Sheet - Liabilities Schedule M - Reconcilement of Net Income and Analysis of Surplus and Undivided Profits Schedule M-l - Dividends Paid - Kind of Business Schedule M-2 - Amortization of Patents (Not on Books) - Schedule of Reserves Schedule 26 - Depletion Questions 9 and lk - Information Relative to Owning $0% or More of the Voting Stock of Another Corporation Inventory Comparison of Items Costed on Last-In, First-Out Basis FEDERAL EXCESS PROFITS TAX SCHEDUIE Schedule EP-2 (B) - Average Daily Amount of Borrowed Capital Line k Schedule EP-2 (B) - Average Daily Amount of Distributions During Line 9 the Taxable Tear Not Out of Earnings and Profits of Such Tear Schedule EP-2 (B) - Inadmissible Assets Line 16 Schedule EP-1 - Unused Excess Profits Credit Adjustment Line 25 Page Number 1 2 3 k k 5-8 9 9 10 9 11-12 13 - 15 16 - 17 18 19 - 21 22 23 2k 25 - 26 27 27 28 29 30 - 33 3k 35 36 - k9 50 5l - 52 53 - 5k 55 GLD 045479 THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 NORMAL TAX NET INCOME COMPUTATION (Page 1, Fora 1120) GROSS INCOME Item 1. 2. 3. 7. 9.(c) 10. 11. 12.(b) 13. lit, 15. Gross sales Less: Returns and allowances $231,378,732.83 8,71*9,721*.21* Net Sales Less: Cost of goods sold (ScheduleA) Grossprofit from sales Interest on loans, notes, mortgages, bonds, etc. Interest on U. S. obligations issued after March 1, 191*1 Rents Royalties Total net long-term capital gain (From Schedule C) Dividends(Schedule E) Other income(Schedule lit) Total Income $222,629,008.59 176,775,600.63 $ 1*5,853,1*07.96 li*,20i*.l*0 U28.71 3,801.35 1*0,11*6.08 130,929.OU lit,002.00 lt86,I76.03 $ U6,5U3,095.57 DEDUCTIONS .18 Rent $ U80,ll?.57 19. Repairs .20 Bad debts (Schedule G) .21 Interest .22 Taxes (Schedule H) 2,867,812.70 110,879.32 909,301.1*9 1,307,969.511 23. Contributions or gifts paid (Schedule I) 53,1*17.36 .25. Depreciation (Schedule J) 26 Depletion of mines (Schedule 2.6) 1,932,773.61 39,081.07 28. Advertising 5,150,551.31* 29. Amounts contributed under a pension plan 756,880.00 30. Other deductions authorized by law (Schedule K) 18,1*69,687.75 31. Total Deductions 32,078,1*71.75 32.and 3U. Net Income $ ll*. 1*61*,623.82 35. Total Income Tax $7,181,51*3-71* -It GLD 045480 e z iu &o a l . xwouna ra x o ^h b a j v u S/ THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 COMPUTATION OF CORPORATION INCOME TAX (FORM 1120 FI) (D) COMPUTATION AT TAX RATES APPLICABIS ON AND AFTER JPLY 1. 1950* AND BEFORE APRIL ~1, 1951 Item No. 1. Net income (Item 3U, Pape 1, Form 1120) 2. Less: Dividends received credit - (a) of Column 2, Schedule E, Form 1120 5. Surtax net income 6. Combined normal tax and surtax - hl% of Line 5 minus $5,500. 8. Total normal tax and surtax 9. Line 8, multiplied by number of days in the taxable year after June 30, 1950, and before April 1, 1951, divided by number of days in the taxable year - l5l/365ths $Hi,ii6L,623.82 11,901.70 $lii,U52,722.12 $6,787,279.HO 6,787,279.LO $2,807,890.70 (E) COMPUTATION AT TAX RATES APPLICABIE ON~AND~AFTSR APRIL 10. Net income (Item 3U, Page 1, Fora 1120) 11. Less: Dividends received credit - (a) 8556 of Column 2, Schedule E, Form 1120 Ih. Surtax net income 15. Combined normal tax and surtax - 5# of Line 1L minus $5,500. 17. Total normal tax and surtax 18. Line 17, multiplied by number of days in the taxable year after March 31, 1951, divided by number of days in the taxable year - 2Hi/365ths $Hi,li61i,623.82 11,901.70 $lii,L52,722.12 $7,509,915.50 7,509,915.50 $U,U03,070.97 19. Sum of Lines 9 and 18 21. Total tax (Line 19), or alternative tax whichever is lesser $7,210,961.67 $7,18l,5li3.7a -2- GLD 045481 4 abcddeTHE N COMPANY - c IZVELAND, OHIO Fiscal year ended October 31, 1951 COMPUTATION OF ALTERNATIVE TAX - SCHEDULE C (FORM 1120) (D) COMPUTATION AT TAX RATES APPLICABIZ ON AND AFTER JULY 1, 1950, AND BEFORE APRIL l7~195l Item No, 12. 13. lii. 1$. 18. 19. 20. ' Surtax net income (Section D, Form 1120FY) Less: Total net long-term capital gain (Line 10, Schedule C) Surtax net income for purpose of alternative tax Combined normal tax and surtax - hl% of Line lU minus $5>500. Partial tax 25$ of Line 13 > above Alternative tax Line 20, multiplied by number of days in the taxable year after June 30, 1950, and before April 1, 195l> divided by number of days in the taxable year I5l/365ths $lli, 1:52,722.12 130,929.01: lii,321,793.08 $6,725,7U2.75 6,725,7U2.75 32,732.26 6,758,1:75.01 $2,795,97h.35 (E) COMPUTATION AT TAX RATES APPLICABLE ON AND AFTER APRIL 1, 1951 12. Surtax net income (Section E, Form 1120FT) 13. Less: Total net long-term capital gain (Line 10, Schedule C) lli. Surtax net income for purpose of alternative tax 15. Combined normal tax and surtax - 52% of Line lli minus $5,500. 18. Partial tax 19. 25$ of Line 13, above 20. Alternative tax Line 20, multiplied by number of days in the taxable year after March 31, 1951, divided by number of days in the taxable year - 2lU/365ths 21. Alternative tax, sura of Line 20 Section (D) and Line 20 Section (E) $Ui,U52,722.12 130,929*01: $iii,321,793.08 $7,Wi7,332.iiO 7,Ui7,332.UO 32,732.26 7,U80,06U.66 $1:,385,569.39 $7, l8l,5U3.7li ' -3 - GLD 045482 FEDERAL INCOME TAX SCHEDULE THE GLIDDSN CCMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE A - COST OF GOODS SOU) Inventory at beginning of year Purchases Cost of operations - from Schedule B Total Less: Inventory at end of year Cost of Goods Sold $ 30,152,615.38 159,299,OIL.30 17,5L2,076.68 *206,993,706.36 30,218,105.73 *176,775,600.63 SCHEDULE B - COST OF OPERATIONS Direct labor Indirect labor Supervision and clerical Heat, light and power Insurance Factory supplies Water Cartage, freight, etc. Rehandling returned goods Telephone and telegraph Traveling expense Employees' welfare and restaurant expense Royalties and licenses Laboratory expense Purchase and cleaning of storage drums Laundry Hydrogen gas Sundries Less: Labor, material and expense redistributed or capitalized Factory supervision charged subsidiary company * 7,138,68L.LL 1,216,333.96 2,L6L,225.L8 3,105,988.15 L6l,172.3L 1,176,380.26 2LL,8L7.35 63,737.85 106,539.L9 68,792.09 22,022.11 13L,718.29 109,258.27 682,313.57 75,8L5.00 66,968.95 735,016.97 37L,1L3.06 * l8,2L6,987.63 *697,710.95 7,200.00 70L,910.95 Total to Schedule A * 17,5U2,076.68 -L - GLD 045483 FEDERAL INCOME TAX SCHEDUIE THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDUIE C - CAPITAL GAINS AND LOSSES Line 2. Short-term capital gain (per schedule) 3. Net capital loss carry-over (see below) 1. Net short-term capital loss 6. .and Net long-term capital gain 8 10. Excess of net long-term capital gain over net short-term capital loss $ 73.71 LO, 837.29 $ 10,763.58 171,692.62 STATEMENT RE NET CAPITAL LOSS CARRX-OVER Net loss (not allowable) per Schedule C, Form 1120, for year ended October 31, 1950 I 73,326.71 Adjustment of gain or loss on 1950 sale of Jacksonville Processing Company stock: Sales price - April 13, 1950 (per 1950 return) Basis under I.R.C. 113(a)(9); Cost $19,896.00 less: Unrecognized gain resulting from involuntary conversion 32,189.12 Gain or loss as corrected Gain or loss as reported in 1950 return $38,560.50 17,106.58 $21,153.92 (11,335.50) 32,189.12 Net capital loss carry-over $ 10,637.29 -5 - GLD 045484 THE GLLDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE C-I SHORT-TERM CAPITAL GAINS AND LOSSES ASSETS HELD FOR NOT MORE THAN SIX MONTHS PRIVATE LEDGER SaTe~*oFT^l7lii Treasury Bonds (6-15-62/59) (Cr. 11) Acquired - June 27, 1950 Sales Price - November 8, 1950 Cost Net short-term capital gain (Line 2, Schedule C) Net capital loss carry-over (Line 3, Schedule C) Total Net Short-Term Capital (Loss) (Line U, Schedule C) Gain (Loss) $ 22,073.71 22,000.00 $ 73.71 f 73,71 (liO,837 .29) $(UO,763,58) LONG-TERM CAPITAL GAINS AND LOSSES ASSETS HELD FOR MORE THAN SIX~~MONTHS ' DIVISION 10 - ST. HELENA Sale of filter tank system and conveyor (GA 90U6U) Acquired - 1935 and 1938 Sales price $ 1,829.53 Cost $ 29,920.Oit Depreciation 29,920.01a -0- * 1,629.53 DIVISION 18 - CAMBRIDGE Sale of Dodge Panel truck (GA 112385) Acquired - 19U7 Sales price Cost Depreciation 1 1,000.00 $ 3,612. 3.512.6U 100.00 900.00 DIVISION 18 - CAMBRIDGE SaDe of International truck (GA 2117U) Acquired - 1950 Sales price Cost Depreciation $ 1,695.00 $ 1,695.00 212.17 1.U82.83 212.17 DIVISION 27 - HAMMOND Sale of part of plant Acquired - various dates Gross sales price Less: Expenses of sale Net sales price Cost Depreciation $353,912.38 179.3U8.5l $325,280.00 L5,095.19 *2&0,18U.81 17U.563.87 105,620.9U DIVISION 3U - OAKLAND Sale of Ford dump truck (GA 60262) Acquired - 1939 Sales price Cost Depreciation $ 1 1,276.83 1,176.83 U50.00 100.00 350.00 -6- GLD 045485 Fiscal year ended October 31, 1951 SCHEDULE C-l (Continued) LONG-TERM CAPITAL GAINS AND LOSSES ASSETS HELD FOR MORE THAN SIX MONTHS (Continued) DIVISION 57 - COLUMBUS Sale of Dodge truck (GA 120265) Acquired - 19lil Sales price Cost Depreciation * $ 500.00 uoo.oo Gain [Loss) 50.00 100,00 $ (50.00) DIVISION 61 - TAMPA Sale of Dodge truck (GA 1211*39) Acquired - 19Ul Sales price Cost Depreciation $ 300.00 4 821.00 721.00 100.00 200.00 DIVISION 71 - NAVAL STORES Sale of~f lat trailer (GA 83005) Acquired - 191*6 Sales price Cost Depreciation 4 4 2,087.1*7 .4*1 500.00 500.00 DIVISION 71 - NAVAL STORES Sale of Jesup, Ga. land (GA 31576) Acquired - 191*8 Sales price Cost Depreciation DIVISION 77 - LENOIR Sale"of timber (see election following) Acquired - 191*6 $ 2,070.85 $ 2,000.00 -o- 2,000.00 70.85 ,729.50 PRIVATE LEDGER Sale of land at Hillside (GA 71827) Acquired - 191*2 Gross sales price Less: Expense of sale Net sales price Cost Amortization 4 21,000.00 1,322.59 1 19,677.LI * 9,133.65 7,706.92 1,1*26.73 ,250.68 PRIVATE LEDGER Sale of Series ttB" 1975-80 Bonds (GA 70827) Acquired - 1950 Sales price Cost 4 U*,587.50 15,000.00 (1*12.50) -7 - GLD 045486 THE GLIDDBN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE C-l (Continued) LONG-TERM CAPITAL GAINS AND LOSSES ASSETS HELD FOR MORE THAN SIX MONTHS (Continued) PRIVATE LEDGER Sale of Budd trailer (GA 10U0U9) Acquired - 19h2 Sales price Cost $ Gain (Loss) 50.00 -o- $ 50.00 PRIVATE LEDGER Sale of Treasury stock Acquired - various dates Sales price Cost $302,L76.02 263,03b.57 39,Wil.b5 Total Net Long-Term Capital Gain (Line 6, Schedule C) $171,692,62 SCHEDULE C ELECTION UNDER"CODS SECTION 117(k) Under the provisions of Code Section 117(k) the taxpayer hereby elects to treat the cutting of timber as a sale or exchange of timber cut during the year. -8 - GLD 045487 THE GLIDDEN COMPANY' - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE E - INCCHE FROM DIVIDENDS Column 2 - Domestic corporations taxable under Chapter 1, I.R.C. Jacksonville Processing Corporation - Jacksonville, Fla. $ lli, 000.00 Column 5 - Other corporations Indianapolis Board of Trade - Indianapolis, Ind. 2.00 $ lh,002.00 SCHEDULE lit - OTHER INCCKB Discount on purchases Profit on storage and processing for customers Joint venture income Miscellaneous SCHEDULE H - TAXES Real, personal, state franchise, etc. State taxes on income Social security taxes % 263,692.31 Ui, 778.81 33,387.93 liiU,3l6.98 $ ti86.176,03 * 77^,382.90 86,086.66 Uli7,U99.78 $1,307,9695U -9- GLD 045488 THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE G - BAD DEBTS e-mit. Reserve for doubtful accounts as shown on October 31, 1950 return Provision for doubtful accounts less recoveries Recoveries on accounts charged off Flax Growers Customers Total $ -0- $363,60b. 85 $ 363,60b. 85 ($6,b50.00) $12b,lb9.2L $ 117,699.2b 6,U50.00 132,762.72 139,212.72 I -0- 1256,911.96 r~"256,911.96 Less; Accounts charged off Reserve for doubtful accounts October 31, 1951 Expense as shown by Federal Income Tax Return: Allowable expense from schedule below Less recoveries of accounts charged off Net Expense - Per Return ALLOWABIE DEDUCTION CALCULATION - to carry forward schedule prepared for Federal audit years lc:>hl-19h6 based on an allow able reserve of 2-l/b$ of customers' accounts receivable for the year 1951 $ -0-0- % -0- $620,516.81 $ 2bb,bb3*8b 620,516.81 2bb,bb3.8b $376,072.97 $ 376,072.97 $ 250,092.0b 139,212.72 $ 110.879.32 Accounts receivable Allowable reserve - beginning of year (per 1950 tax schedule) Less: - Charges to reserve Allowable expense for current year Allowable reserve - end of year (2-1/1$ of receivables) Book provision: Provision for doubtful accounts less recoveries Recoveries of doubtful accounts Total Book Provision Allowable provision Nonallowable expense Total nonallowable expense to October 31, 1950 Total Nonallowable Expense to October 31. 1951 $Ib,822,?U6.91 $ 327,863.61 2bb,hb3.8b F~ 83,bl9.77 250,092.0b $ .333,511.81 $117,699.2b 139.212.72 $ 256,911.96 250,092.0b$ 67&19."92 35,7bl.2b r~--b2,561.16 Reserve - tax return Allowable reserve Total Nonallowable to October 31. 195l $ 376,072.97 333,511.81 $ b2,56l.l6 - 10 - GLD 045489 THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE I - CONTRIBUTIONS OR GIFTS PAID American Cancer Society American Red Cross Anti-Tuberculosis League Case Institute of Technology Cleveland Heart Society Committee for Economic Development Community Fund Cuyahoga County Civil Defense Fairview Park Hospital Building Fund Fenn College Junior Achievement, Inc, . Lakewood Hospital League of irfomen Voters National Conference of Christians and Jews National Fire Protection Association National Industrial Conference Board, Inc. Society for Crippled Children Greater Cleveland Clean Up Committee Lakewood Presbyterian Church Ohio Safety Conference Community Chest - Berks County American Red Cross St. Joseph's Hospital Building Fund Community General Hospital Albright College The Crippled Children's Hospital, Inc. Greater New Orleans, Inc. American Red Cross Mercy Hospital Building Fund Community Chest St, Louis Community Chest American Red Cross Community Chest of Hennepin County American Red Cross Abbinston Memorial Hospital Fund Community Chest United Community Services American Red Cross Community Fund Community Chest Community Chest I.M.C.A. Building Fund Portland Community Chest American Red Cross Community Chest Junior Achievement of Louisville Kentucky Society for Crippled Children Portland Boys' Club East Bay Community Chest Grocery Manufacturers of America, Inc. Brooklyn-Queens Y.M.C.A. The American Institute of Baking Greater New York Fund American Red Cross Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Reading Reading Reading Reading Reading New Orleans New Orleans New Orleans New Orleans New Orleans St. Louis St. Louis Minneapolis Chicago Chicago San Francisco Cambridge Chicago Chicago Birmingham Evansville Honolulu Portland Louisville Louisville Louisville Louisville Louisville Berkeley Elmhurst Elmhurst Elmhurst Elmhurst Elmhurst - 11 - 500.00 1,500.00 200.00 5.000.00 . .5,000.00 1 000 00 8,h75.00 325.00 2,000.00 1.500.00 100.00 250.00 100.00 250.00 100.00 500.00 100.00 350.00 .Lilt0.38 150.00 1 100.00 250.00 500.00 500.00 200.00 100.00 100.00 200.00 150.00 750.00 . 500.00 100.00 385.00 150.00 150.00 150.00 125.00 500.00 2,505.00 110.00 156.25 100.00 225.00 150.00 350.00 100.00 100.00 200.00 300.00 300.00 100.00 200.00 500.00 200.00 GLD 045490 THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE I - CONTRIBUTIONS OR GIFTS PAID (Continued) American Red Cross Norwalk Community Chest Community Fund of Baltimore American Red Cross American Red Cross Community Chest Hammond Community Chest, Inc. St. Margaret Hospital Collinsville Tepee Club Scranton Community Chest Community Chest of Jacksonville Community Chest o,f Valdosta American Red Cross Boy Scouts of America Cornell University Kansas State College U.S.O. of Chicago Community Chest Buena Park Community Chest Miscellaneous Norwalk Norwalk St. Helena St. Helena Oakland Oakland Hammond Hammond Collinsville Scranton Jacksonville Jacksonville Jackso nville Chicago Chicago Chicago Chicago Indianapolis Buena Park All Divisionsof The Glidden Company $ 150.00 225.00 1,U25.00 150.00 100.00 175.00 100.00 500.00 100.00 650.00 850.00 300.00 325.00 100.00 1, 000.00 500.00 200.00 300.00 325.00 6,295.73 $53, 111? .36 - 12 - GLD 045491 FEDERAL INCOKE TAX SCHEDULE THE GLIDDEN COMPANY - CIVLAHD, OHIO Fiscal year ended October 31, 1951 SC-IEOULE J - DEPRECIATION Land Ore Land Land Improvements Buildings -:ET3 'coots including appreciation Oct. 31, 1950 .950*1951 Increase-Decrease* 3C'3ts including appreciation - Get, 31, 1951 033 : Adjustment not on books Appreciation - Oct. 31, 1951 Emergency facilities-Oct- 31, 1951 *2,580,769.99 $677,003.5L 16,636.70* 6,582.56* $2,566,115.29 $672,620.98 $ -0- $ 6,582.56* 106,753-28 22, 132.26 7,706,92 -0- * 616,660.20 Tl7,WiYo $626,296.06 $15,120,167.-19 67,0011.61: 882,660.57 $691,300.50 516,002,627.76 $ -0- - 0 -0$ -O' $ 'O' 660,061.59 112,579.76 $ T^rsrrj? -'In'icc c,l coat = Oct., 31, >932 write-off: Dalance - Oct, 31, 1950 Net credits BcIancO'Qct. 31, 1951 1951 $2,169,655*09 $6511,871.28 $ 26,876.69 $616,836.66 -0- -0- & 26,876.69 $616, 836.66 $691,300.50 $15.239,986-61 $ -0- -0- $ -0- $ 868,036.38 0.236-22 1> 661,7905 Emergency facilities-Oct, 31, 1951 $ Adjustment - not on books 7,706.92 $ -0- % 3 *0* L,582.56* -o- -0- $ ;12,579.76 -0- book value-Oct. 31, 19^1 |U:CIATCON AST) DEPLETION RESERVES ornrvc ry^t. TFJ 1950 applicable to: Cost 1932 Write-off (nonledger) Adjustments not on books Emergency facilities Book value (ledger) $ $ ! just-men ts - charger applicable to : Cost 1932 write-off (nonledger) Adjustments not on books Ar;tortsency facilities hook value (ledger) $ 4 preciation expense applicable to: Cost write-off (nonledger) Adjustments not on books rook value (ledger) $ * serve Oct. 31, .-951 applicable to: 5: {. Write -off 1 neniodger) '. 'Ju.vtments not on books r*-- -- t~- v f i ' i t * C S v.3i?o (ledger) 5 igure -0--0" -o*= 15,613.86 15,613.66 $203,756.79 65,919.15* -0- -0$137,637.66 $178,670.23 'O-1 -0-0$TT8,670.2X $ 6,861,112.87 568,692.72* 6,56l. 63 }19,187.36 $ 6,616,3c9. 16 -o-0" -0 = 7,706.92 7,706.92 $ $ -o= -0-0-0" =0* $ 9,982.68* $ 181,663.89 o~ 6,236.22* -0* -0= -0- 6,607.60 ? 9,962.o8* T" 1B2,o 16-27' -o- $ 17,901.72 $ 31,223.50 $ 338.635 16 o- -0- *0- 10,628.98* -0- -0- ~o* 678.1? -0- $ 17,981.ll $ 31,223-50 T 370.86h.30 -0-0-o7,706 9? 7,706.92 $221,7 38.5* 65,919.7.5* -0- -0 * $-55,819^36 $219,876.39 M O - ~C' -0- $219,876.3? - 13 9. (Vi?. ioi<. Cl Sfi: .6Ai. M'- ?,2?rt V' > <- /I-' //. 6r*05, ?3" r;- GLD 045492 K ia ca i year ended O ctober J l, - c id ^ x x u ;, :n 3 3 *> no 35 *3 2 G O CD UG o -a v, c -t -< h t : * e s u ai m -- r. a 31 t? O *> o 9 f --C O > *' <H C a St ZA 30 JU li --< G 3 c j ^ -a v. fc. 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S p pp 3 A > 4 ap a oP K 4 ft OOP 4 frft ft tft ft u ftd ZB ft c On O PH d U 4 PO 8 > ,-W* 44 O J3| P 43 P f* 3 o rH d >4 p 4 CP PP OC X o 1,1 Po E C *3 t, O4 d ft 1Q0 p p ft p s t-4 o M Eo-< 2 o A- CM r- ftXA r- On fN- On A co CM co ->NO CM A XA CA A On XA On CM _3 o ,4 i 1 CO o 1 o1 O' p <\1s p r-- On CM S8 CM CO CM XA n XA On CA XA XA o CM XA * 4 C3 P rH e4 O o t -H c o On _4 CA On H CA t-- rH CO p 3 -O -3 -4 A On 4 H CM rH n O rH tfOH.td--cxrCei--pM--*1 -XC4MA-rO4H CM On XA e Q4 CO cO co co XA O' CM CD PC KM -4 CO rH 1 O -4 CM CA 2o rH CM NO ra 4 o e* rH o <A CM CA XA CM a 8 <M P 4 i--i ft 00 c dd od II s ac x e 5P 4 4 4 rH rH UH H H O oPPP E 05 CO 4 4 4 QO OO > c rH 0 fo 4 1 1 SURPLUS CHARGES DEFERRED TAX DEDUCTION (C o n tin u e d )- GLD 045499 ~* * Os g Os CA VN'O CO CA PS c a CO o Os CSI rH -3 40 3$ 3> o -3 -3 r-- sO oo XAsO 1 rH SO CN -3 rH O SO CA rH CO sO r -3 r-- s CSJ CA CO 40 o 40 40 ** * r-- CO Os CA SO sO m CSI q g i CA CO sCO CO CO o rH v\ \A O r Os , > o c? Os rA CSJ csi CSJ rH -3 SO US -3 40 40 40 40 Os P <4 ri o o g vp o. P 5s p 5 O rH (0 8 < > O OsOW 40H g r-- Os t-- t^--3 H SO <SJ 1/\ CS? Os rH g o csi LAf \9 f^sO OH O W f- \A g H CM CAVS csi csj -3 U\ 40 LA Os H 0 U ) o T5 rH rH O O M S 01 a <8 S OP C t* 3a Su-S CA Ph OS - 21 01 T5 h n 3 o 3 * GLD 045500 FEDERAL INCOME TAX SCHEDUIE THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE K -`OTHER DEDUCTIONS Administrative salaries Salaries - offiee Salesmen's salary and commissions Salesmen's expense Warehouse and shipping expense Cartage Employees' welfare and restaurant expense Freight and express Heat, light and power Insurance Collection expense - legal fees, etc. Maintenance - general Office supplies Po stage Printing and stationery Sales development letters Samples and allowances Storage Telephone and telegraph Traveling expenseWatchman and Janitor service Legal, audits, etc. Registrations, patents, revenue stamps, etc. Provision for bonus Convention expense Credit reports Tabulating expense Research - labor and expense Pension trust expense loss on abandonment Idle plant expense Expense - California Mining Properties B.A.I. expense Organization dues Miscellaneous Less: Portion of administrative and general office salaries charged subsidiary Total $ 581,066.62 1*,336,561.1*9 5,191*, 1*13.65 1,61*2,521*. 05 187,731*. 1*5 1*89,7UU.69 108,261*.08 1,068,312.67 67,59U.70 91,918.62 20,089.77 12l*,0l*8.60 69,653.92 123,326.76 268,651*.52 569,891*.70 355,913.63 500,033.87 UlS,378.29 517,633.25 91*, 938.1*8 98,952.26 29,221.86 152,000.00 U8,697-U7 U7,888.01 1*9,797.76 601,21*9.08 5,656.51 96,130.33 115,097.59 7,998.21* 63,1*35.1x8 51*, 81*1.07 309,821.28 f18,508,1*87.75 38,800.00 $18,1*69,687.75 - 22 - GLD 045501 FEDERAL INCOME TAX SCHEDUIE THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDUIE L - BALANCE SHEET ASSETS Cash Notes receivable Customers' accounts receivable Less: Reserve for bad debts Reserve for discounts, etc. Miscellaneous accounts receivable Inventories Cash surrender value life insurance Other miscellaneous notes and accounts, salesmen's advances, etc. Investments: U. S. Treasury bonds Other investments: Stocks of domestic corporations Subsidiary foreign corporation stock Subsidiary domestic corporation stock Advances to subsidiary domestic corporation Claims for refund of Federal taxes Property, plant and equipment Investment in ore lands Patents, trade marks and rights to manufacture Prepaid expenses Treasury stock Taxable Tear Beginning End U,97U, 013.97 $12,722,169.00 21*2,736.91* k80,1*68.81 1U,571,715.91 11*. 822,71*6.91 363,601:. 85* 117,991*. 99* 2,183,752.85 30,152,615.38 765,605.00 376,072.97* 125,91*2.28* 2,272,102.65 30,218,105.73 791,199.50 557,230.61* 708,286.1*8 37,000.00 ll*,561*.06 92,728.00 50,000.00 ff7,2U5.5U 60,117.90 21*1*, 281*. 83 26,359,1*59.87 1*51, 111*.U9 loa,2i*8.89 632,882.89 U60.535.22 1*2,123.19 50,000.00 107,768.22 -o- -o- 30,333,921.81 U33,132.77 1*0,801.11* 860,061*. 65 253.105.87 $8l,5H5,688,U8 $93,61*8,51*5.51* * Indicates red figures. - 23 - GLD 045502 FEDERAL INCCME TAX SCHEDULE THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDUIE L - BALANCE SHEET LIABILITIES Taxable Year Beginning End Accounts payable Accrued expenses: Taxes All other Due The Glidden dompany, Ltd. Due E. V. Co Hedge, G.S.A., Inc. Long term notes payable Reserve for contingencies Reserve for reduction of net current assets of Canadian subsidiary to rate of exchange Capital stock - convertible preferred Capital stock - common - no par value Surplus * 8,298,638.73 5^375,692.83 6,535,81*3.85 37U,256.96 266,801.72 20,690.00 -0- 1,500,000.00 9,536,501.ia 780,a86.71 377,73a.L2 122,903.50 10,000,000.00 --o 83,801.32 9,977,000.00 U, 986,1*62.50 U9502,193.U0 99,a52.03 -0-- 5,728,325.00 6l,627,aa9.91 81,5U5,688. U8 93,6a8,5a5.5U RECONCILING SURPLUS TO COMPANY'S BOOKS Surplus - as shown above *U9,502,193.uo 61,627,aa9.9i Less: Values written off in 1932 deferred tax deduction schedule Unamortized patent expense written off books Depreciation not adjusted on books E. W. Colledge goodwill written off books in 1950 Capital gain not recorded on books until 1952 U62,918.69 loa,2U8.89 7,076.80* -o--0-- a5a,182.05 ao,801. Hi a,75a.8a 20,522.68 a,582.56 J 560.090.78 52a.aa3.27 Surplus - As Shown on Books U8,9U2,102,62 61,102,606.6a Add: Surplus of subsidiary companies: E. W. Colledge, G.S.A., Inc. The Glidden Company, Ltd. 17,058.95 2,761,11*5.8U 37,593.26 3,123.232.38 Consolidated Surplus - As Shown by Ernst & Ernst Audit Report $51,720,307.Ill $6U,263,1*32.28 * Indicates red figure. - 2i* - GLD 045503 FEDERAL INCOME TAX SCHEDULE THE GLIDDEN COMPANY CIEVEUND, OHIO- F is c a l year ended October 31, 1951 CM CO O rH CoM -3 CO 'O rH -3 -3 rr\ nO ON Cr-M\ On -3 -3 On OCM CM ON CM CM -3 On ) CO CO -3 CM PH V\H JjO On On O 0n U\v O O > * rH CO CM n-O3 'o iH c m O O cnxr\ On CM CM CO M3 . \TN c m UNUNOD CM CO Os C-n O f- rH _3 CO >0 3 NO rH rH o' Cm" PH CM r~\ PH o -3 ncO--L3o oCO rH CHOn nO rH -3 V\ O 8 3 3D CO #* +> m TJ3J e 4* +0> oo S33 co g* o CM 3 83rH COn .x o <0 o G WC C JO SL-p o g5 iH S I s 43 t 3 3 TXJ o c X aa >o 0> Cu 3 c fot o rQH. g .O g S' rH UIO.U 0 0. >2 TJ TJ bo *2 S C rH U \A -3 43 _rj On -3 ft Os B H O C.H O I rH I* O CM I OI G -3 rH\A H OsJJ rH On On COu 3 n rH XS & w QEi Xf4t3 5-gxi c ao bO rH rH 3 a C G "H <2 & sso S 3 U(C0O CM r~* c 60 H g EO co *h 43 S 34-> c tj 43 n O a14* 0 Tj f+t C n ft uw *5 o 5 n o 80* a bo 3 c bO o o cO 43 HP* 2 8. rH X> O t - c O *3 oa fortt n x o o ah SC Q0 ,Mo aa 3 _ eo c 493 , Sc0 X 03 0 4> * TJ CO ft M O 4> Q. d O ft o" & O *rl H TJ TJ rH rH ft Q.-T-J O *o +c3 hGQ X3*5 5XO6 6 -P 3 ^ u O e rH rH 4g3 TJ S3S bO 4 43 0u T? TJ 04 1 S 4c3 53 *3 dS35 TJ C & 4C3 aP xTJ o 23 3 til TJ H 4o>34 JO3 3 43 TJ O o os a r-t p*c rH a> rH 43 n _ TJ 55 E3 *d t j U b > 3 rH 3 83 c tar a0 O M 4H3 o o o J rH rH rH fOt 00 0 OH c3 o cbe c8e a: 3 o t j as 3 & s3 - 25 - CARRIED FORWARD $15,903,397 GLD 045504 CO rHn O f-- rH O rH rH l Tv -3 Os r*N CO c<or\ ON * * r-- O' r*\ o [s-- rP o o !>s O' Os _3 On p rH rH CM 3 NO CM NcO-\ -O3n -3 & * * C--r*N rH rH CM -3 o O C-- rr, o fN CO CO CM O' O' On UN -3 N * *. rH e ON NO 3UN r-- P-- Os N- Os rH _3 UN NO t* k* jO-OQtn^lNChjO 0 040fnr>^HOU\ CrCNl0\OO0 NOCMn OOO >COnMOr*NJJcsCorNtUNn C0O3O ^(rV-- P CM UN P rl On OJ sO r-t <M OOs nO JC_3Njj _3 CM CO _3 P XJ O nO CO rH CO CO UNCO * *4 CO rH s Os CO o NO UN CM On CM CM u\ r- s <s O -4 CM UNO J J rH \A CM On r-Hi--n o rr\ n -3_h NO JH Mj> \QUN U\ On* -3 T*PC3i9aHJ i (XI 8 CeM-O fe 9 OoE 5 rPP4COHH T3 -OCPrl *8 PQ9O2E co 0) tt p 00C9n3 C9na. 3 TcJ *_ o 0a9n03 B JOPP94OE3 PBo St N X Xp i T9J JPO o 3 c 2u P 0) o 9 O PC H B4 Cu H 4 9 T? U. 03 9 4 .4 u6 g C 4 9 9 9 TJ 4 TJ p p 5 PB P 4 > t. ^ s H4 p 4P U) o C 9 U O XJ 9 pc Q. H fr< OC O po 9 u x> 9o 9 <M O O 29 o C PC O 9 t4 a X 9 r9H B Po Ur <oH 9 3 rH 9 t> P P 4 03 03 BH u c p UN C Os OH rH 9P Q* U 99 TJ J3 PO 9 TJ 9 H XX P P O P > (O4 C O Pn 9 P> P t. P 0) p oo p 0 tj 9 CUP It > 9O 3 cp O 9 pg 4 P nP 4 4p 9 >c 9 9 o o > C 4 14 p o 9 u O 9 TJ Ho c p 9 P4 03 1 4O 9P L. P O4 s 53*3 <*3 c3 MC . cu 4 O MB S 4 *4 TJ 9 &4 s* p c s po 9 9 4 9 3 a t3j CO - 26 - U9oo0aH3 n UOorHNn rCH V o 303 o -ap9 T<UU99HJrr ca. ofHi ' fiP Pp L, 5 rrTP0*HoHJ tCO9jOJ rH 2O UON' CO la c a-S.S 33 P tH ap O d Q. 4 f94 . u P9C o 04 B T9J C/3 c u p P 1 t* O 4K P O TP3 o p > P c 4 a. C 9 14 130 o Ur 9 O TJ V4 P PB -ri l) <0 rl T) S P PP 9 P 9 o Ur 9 OO o c z*4 U 9 14 OV o 9 Ur c H 5 C 2TJ M w 4 O o &rH s cr*H-N X9U). oSO TPM9J "APP3449O r*P44aOHH o poo p 3o d 9 e O 9 9 TJ 3 a XJ o OJ Q, *9o 3 u9a 9 9 o XX p c4 9 o c . p p TJ c 9 oP 0 9 3 T5 9 4 a. g 4 c a tj 9 X TJ P 9 K 3 C 9 O 9 p TJ P TJ > c po O B 4 9Pp U TJ o c 9 Ur 9 P 59 Cm X9X Ur t-4 89 9 4 4 9 (3 O 9 & P o30 1 c -9p Ur g fr-r 9 sOt) 5 4 U. 9 TJ 9 fr, c 5 9 9 4 9 3 P Q. GLD 045505 FEDERAL INCOME TAX SCHEDULE THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 Date CONVERTIBLE PREFERRED January 2, 1951 April 1, 1951 July 1, 1951 October 1, 1951 COMMON January 2, 1951 March 12, 1951 July 1, 1951 October 1, 1951 SCHEDULE M-l - DIVIDENDS PAID Character Per Share Amount Cash Cash Cash Cash . 56- lAt .56-l/W .56-l/W .56-iA*f $ 112,2h5.82 112,2L5.77 111,206.2L 66,h56.92 $ 1*02,151*. 75 Cash Cash Cash Cash .50)` .50^ *1,U?9,905.25 989,161.00 991,1*62.50 1,052,31*8.00 U, 512,876.75 $a, 915,031.50 KIND CF BUSINESS 1. Paint and Varnish Divisions: Manufacturers of paints, varnishes, lacquers, etc. 2. Food Divisions: Manufacturers of refined vegetable oils, hard butters for bakers and confectioners, oleomargarine, spices, etc. Manufacturers of hydrogen. 3. Chemicals, Pigments and Metal Divisions: Manufacturers of lithopone, titanium dioxide, carbonate of white lead, litharge, etc. lw Soya Products and Naval Stores Divisions: Manufacturers of soy bean oil, meal, flour, etc. Manufacturers of turpentine, rosin, pine tar oils, etc. - 2? - GLD 045506 FEDERAL INCOME TAX SCHEDULE THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 Jnamorti2ed Unamortize< Balance Amortization Balance Oct. 31, 1950 Additions 1951 Oct, 31, 195 SCHEDULE M-2 - AMORTIZATION OF PATENTS (NOT ON BOOKS) I. F. Laucks Patent Extractochemie Patent Huppert - #2112210 Gillican Patent Nelio Resin Patent Capitalized by R.A.R. - 19iil Capitalized by R.A.R. - 19L2 Capitalized by R.A.R. - 19U3 Capitalized by R.A.R. - 19bb Capitalized by R.A.R. - 19L5 Capitalized by R.A.R, - 19L6 Myles Patent #22050b$ Hydro, finulsion Co. - Patent #2372577 bl9.7b 2,077.82 3,06b.00 LOO. 59 175.36 1,76L.65 1.875.07 1,257.30 1,235.3L 1,691.1? 735.31 9,815.20 2b,290.10 L19.7L 2,077.82 693.60 8L.60 175.36 235.30 220.58 132.36 117.6L lb? .06 58.82 1,510.03 2,127.60 $ -o-0- 2,370.LO 315.99 -o1,529.35 l,65b.b9 1,12b. 9b 1,117.70 l,5bb.ll 676.L9 8,305.17 22,162.50 b8,801.65 -o- 8,000.51 IbO, 801. lb - 28 - GLD 045507  t i t < i t> i t il ? f f ? f f t ? ? $$< H l| CO * .?? ? ?.? ? ? ? ? ? ? ? ?3? 3 8$ S8 ^J88 "8 ' i <s | O _d 1 t HO l * tQQ-tQt -".*'iC&st *- * - I!1 II * I i W Ifrls ?8 ? ?? ? ?58 ? ?;?? ?S?? ??r? ? ? ? ? ? ?S ? ?S ? ? y y$? . . ^y.-^>g^f>yv'.y St *1 '. ~ --*v .*4 . ^V> >' &*3 *' <T H ux \A <.r *^*ag| o v> S O r-i S^y-.r- -- 4. r;- 88 88 388S s' sas^Trssasss 23Z ?s ? ?? ?&&y y ? ?& g ?*9sei H (V I. i 0'0'S \A m CO <N O flV\OvCO I JOlO 8S8 8rMOOD r~ o o I (XI i aD O i o OI CHM(O 0I g>H O1 ^ux STS'? 7 u & s 1 ocsT y y ? 8: \a -dm o \n vs '*.?*# <- i .Ii 'mrO--\ ti <tro--o Chr>n wpr- ocpmjs \\<gnv i < 8 -- -4 ? y ? rT y ^ jvrt _3 faO) ? ? n m#n & *' ' a u> 5s 0 tn 8S a 0 1a *g Si 1 %8 1 ll 55 82 8\a 8 r-o 8 (j v 8a i nn o i 8)^2 i i xn Wsy rJ uy * i v\ omm-- > ifi^P i i i y k .5 a Wx i h o in o O i * * ---dJ *mI vp v\' \"g i m i & m cNo ^0 \ia i y^ 8 tsTcC? ? \a h -4 ? mV ? ? ?0*N*ines ? ? ?- # ??.???. ? 2*9^t Q t t oT t qCu$ p^>o-d f f dm m v> ^ ;v-i>4> ' .?- -'*.fr *j 'ar^ : -H -o _a o* \o O^ OOOvwwww i||i||ilfil nB000000000S5S55ws5 -- -- &&3<3'S<32<S&< a 5* I* a jj*i..Jo\CNM m -CdM-COW AjB g K-JU 1 $: *5i^stsg S.1.3, BI1 * 1S^ s*3>*^s5H* & s 1 p 0O &i & v Ca * L. w p ^ --Ho b > O j 3 S5 nn on JO C C o c So g Ss-g-ts-sf^ S355S^. .-S at- a mm U U U ,o U l~l \A J UPt*- tt-*UJ3 t*UUU t- Q& $$$$$ nilltitininim GLD 045508a*90*5nn0?SA0aBfn*0a0a0 55(33355(i55(?i55^'S3i5 FEDERAL INCCMB TAX SCHEDUIE THE GLIDDEN COMPANY - CIEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDUIE #26a - DEPLETION 1. Name of mine - BARIUM KING MINE 2. Location - Lander dounty,"Battle Mountain, Nevada 3. Metal mined - Barytes Ore L. Legal description of properties - Sections 13, 2h and 25 of T32, NRL6E and Sections 18 and 19 of T32, NRL7E 5. Depletion rate - Depletion at the rate of 152 of sales price has been claimed as provided by Code Section llL(b)(L). Cost of property Tons mined Depletion per books Cost depletion allowed to October 31, 19hl* Percentage depletion claimed November 1, 19i*l* to date, (current year rate $13536)(A) MINING COSTS, FREIGHT, ETC. Tons mined Less - depletion included in costs Less - hauling ore - platform loading - stockpile loading Costs at Mine (Before Depletion) Balance Oct. 31, 1950 57,3X1.59 162,053.131 57,311.59 U3,127.09 Nov. 1, 1950 to Oct. 31, 1951 $ -0ll,96l.U6T $ -0$ -0- Balance Oct. 31,195: $57,311.59 171*, OIL.591 $57,311.59 $L3,127.09 69,952.76 $16,191.03 $86,11*3.79 Tons Amount Cost per Tor 11,961.1*6 11,961,1*6 $L8,052.55 8,373.02 $39,679.53 $11,088.27 1*29.05 528.1*5 l2.OU5.77 $27,633.76 $ U.0173 .1000 $~ 3.3173 F~ .9270 .0359 .0l*L2 r~ 1.0071 r 2.3102 PERCENTAGE DEPLETION - PER TON Saleeprice - Argenta less - costs to stockpile Sales price at mine Depletion allowed - tax return (152 of S9.02L3) Sales price Costs at mine (before depletion) Costs to stockpile Selling expense Profit before depletion Depletion as above Net Profit After Depletion $ 10.0000 1.0071 J 879929 $ 2.3102 1.0071 None $ 1.3536 (A) $ 10.0000 3.3173 $ 6,682? 1.3536 * 5.3291 - 30 - GLD 045509 FEDERALINCOME TAX SCHEDUIE THE GUDDEJTCOMfArfl -~CIVEUWD, OHIO Fiscal year ended October 31, 1951 SCHEDULE #26b - DEPICTION 1. Name of mine - JUMBO MINING CLAIM 2. Location - Nye County, (Tonopah) Nevada 3. Metal mined - Barytes Ore lx. Legal description of property - Situated in the Ellendale Mining District, Nye County, Nevada 5. Depletion rate - Depletion at the rate of 15$ of sales price has been claimed as provided by Code Section llU(b)(U) Nov. 1, 1950 Balance to Balance Oct. 31, 1950 Oct. 31, 1951 Oct. 31, 195 Cost of property Tons mined Depletion per books Cost depletion allowed to October 31, 19UU Percentage depletion claimed November 1, 19UU to date (current year rate, see below $1.U77U)(A) MINING COSTS, FREIGHT, ETC. Tons mined Less - depletion included in costs Less - hauling to Luning Costs at Mine (before Depletion) $ 6,100.25 21,6U9.57T $ 6,100.25 $ U31.19 $ -03,322.27T $ -0- $ -0- $ 6,100.25 2U,971.8U $ 6,100.25 $ U31.19 l6,869.3lt Tons 3,322.2? 3,522.27 $ U,908.32 Amount $28,302.07 2,325.59 $25,976.1x8 17.U1.2U $ 8.B65.2U $21,777.66 Cost per Toi $ 8.5189 .7000 $ 7.0189 5.1505 f 2.668U PRECENTAGE DEPLETION - PER TON Sales price - F.O.B. Luning Nevada Less - costs to Luning Sales price at mine Depletion allowed - tax return (15$ of $9.8U95) $ 15.0000 5.15Q5 I 9.8U95 Sales price Costs at mine (before depletion) Costs to Luning Selling expense Profit before depletion Depletion - as above Net Profit After Depletion $ 2.668U 5.1505 None $ 15.0000 7.8189 I 7!1811 1.U77U 5.7037 - 31 - GLD 045510 FEDERAL INCOME TAX SCHEDULE THE j EN COMPANY - ClEvEULND, OHIO Fiscal year ended October 31, 1951 SCHEDULE #26c - DEPLETION 1. Name of mine - BARIUM NEW DISCOVERIES NO. 1 AND 2 (M. C. Austin Claims) 2. Location - Lander County, Nevada 3. Metal mined - Barytes Ore L. Legal description of properties' - Section 2h, T32, NRL6E 5. Depletion rate - Depletion at the rate of 1$% of sales price has been claimed as provided by Code Section llL(b)(L). 6. No ore has been mined since 19U3 Cost of property Tons mined Depletion per books Cost depletion allowed to October 31, 19Ui Percentage depletion claimed November 1, 19Ui to date Balance Oct. 31, 1950 Nov. 1, 1950 to Oct. 31, 1951 Balance Oct. 31,. 195' *13,927.65- 8,198.55 U,509.37 $ U,509.37 $ -o-o- 1 "0" $ -o- $13,927.65 8,198.55 $ a,509.37 $ a,509.37 $ -0- $ -o- $ -o- - 32 - GLD 045511 FEDERAL INCOME TAX SCHEDOIS THE GL2)Dl?TC(^fV - OHIO Fiscal year ended October 31, 1951 SCHEDULE 26d - DEPLETION 1. Name of mine - YADKIN VALiSl I1MENITE MINE 2 Location - Lenoir, N.C. 3. Metal mined - Ilmenit Ore b. Legal description of properties - Being three tracts situated along the Yadkin River, in the County of Caldwell, State of Iforth Carolina. 5. Depletion rate - $.2906276 per ton. This is based on a cost of $162,693. 35 and an estimate (August 20, 19b6) of 559#800 tons. Cost of property Tons mined Depletion per books Depletion claimed to date Balance Oct. 31, 1950 Nov. 1, 1950 to Oct, 31, 1951 Balance Oct. 31, 195 $162,693.35 2U0,570.5T $ 69r9l6.h3 $ 69,916.L3 $ -o- 61,872. T $17,981.72 $17,981.72 $162,693.35 302,UU2.5T $ 87,898.15 $ 87,898.15 - 33 - GLD 045512 FEDERAL INCCHE TAX SCHEDU1E THE GLIDDEN CCHPANT - CLSv ELS, OHIO Fiscal year ended October 31* 1951 QUESTIONS 9 AND 1U INFORMATION RELATIVE TO OWNING $0* OR MORE OF THE" VOTING STOCK OF ANOTHER CORPORATION GROWTH PRODUCTS CCMPAKl l"" Same - Growth Products Company Address - Pascagoula, Mississippi 2. ' Percentage of stock owned - 60$ 3. Date stock acquired - June 5, 19U7 U. Income tax return filed - Jackson, Mississippi THE GLIDDEN COHPANT, LTD, 1. Name - The Glidden Company* Ltd. Address - Toronto, Ontario, Canada 2. Percentage of stock owned - 100$ 3. Date stock acquired - 1917 U. Income tax return filed - Dominion of Canada, Toronto, Ontario, Canada JACKSONVILLE PROCESSING CORPORATION 1. Name - Jacksonville Processing Corporation Address - Jacksonville, Florida 2. Percentage of stock owned - $0$ 3. Date stock acquired - 191*8 and 19L9 U. Income tax return filed - Jacksonville, Florida E. W. COLIEDGE, GENERAL SAIES AGENT, INC. Tl Name-E. W. Colledge, General Sales Agent, Inc. Address - Jacksonville, Florida 2. Percentage of stock owned - 100$ 3. Date stock acquired - August 2, 1950 li. Income tax return filed - Jacksonville, Florida - 3U - GLD 045513 FEDERAL INCCHE TAX SCKEDUIS THE GUDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 INVENTORY RAW MATERIALS AND SUPPLIES Raw materials Packages and packing material Vendors1 drums Inventory in transit Supplies Total Raw Materials and Supplies IN PROCESS AND FINISHED At plant (including in process) Returned goods In transit Warehouse stocks Consignments Total in Process and Finished Total Inventory Applicable Not Applicable to Last-In, to Last-In, First-Out Basis First-Gut Basis Total *3,156,060.51 39,U06.88 -o- 882,303. U6 U75.10 U. 078t2k5.9$ * 5,605,972.U5 2,1U3,092.67 88,870.55 770,OUL.38 1.088.2L1.72 1 9,70^,221.77 8,762,032.96 2,182,L99.55 88,870.55 1,660,3U7.8U 1.088.716.82 l3,7^2,L67,72 $ 090,211.L3 -o-0- 11,163.19 68.315.U3 969,690.05 5,0U7,936.00 ll, 5U0, U85.25 11,362.51 680,250.62 2,906,036.21 327,813.37 ll5.U65.9U7.96 $25,170,169.73 12, U30,696.68 11,362.51 680,250.62 2,917,199.UO 396.128.80 tl6,k35,638.01 30,218,105.73 - 35 - GLD 045514 3 8 ft XA CHssfOt ft ps riCnM <%r fr u ase 0&480 cTeTft 2BS c ft- oT 3 mH*3o A3ft ii _ sea nfeoSphi &3ftSo ft && \eAo 9oo8v. Cv s> fftt < c* fc Hft -fo3tt v\ Os Vn\ cjv ft OC<HVs XffttA 23 /mn*n H& XOcvA' -fAt rH 49 ** * 3SS 03 SO ft sW ft VS CO -3 m sts n *h V 1 5* CV fts ft H 1 ft 37 ft S Vcv ft 33 S8 ft. V) 55 vltS *33 *8 333*SV? stS^^sv\*}6 or-Kp-ftl .. H Ok CVXA r d3 Vo H ooO O' 0-4 ei <2ftoO i^ft *- g SiSiilt. ' ( ft *3 8 m s &- - XA 5? so" ft I fv -O ft CV \Aft ft Cv Vi CO 0*0 rtlA ft 4 m xn #k cv H K CV <f> 1 % 2 i 3 -3 Vs 1 I s ft 8 8 MXAOs vSsCOSOs!' Os Os o vsv> O' ft .3 343 III iA J'OVt <0*0*0 CM XA 37 sO - - . HtArt OH(V ft_3 O' O 8866886 HHHHHHH : .;.a " : a ft $1 cv ft ft ft I 5>* o ftft- ft H ft ftft -3*0 ft ft HH ftS ft> *o V\ ft-3 SO Os 38 ` VS .3 fts^ as *8 S 18 Of' 'o? HH ss GLD 045515 39,Ui 2.G9 3 2,li76-5Ii 36.966.35 --------- ---------- ,lli2 3 3 .3353? 127.6112# 1 7 ,li0 0 # 110,262 j J 2,1i76.51i t fot Ss /H tC g g ft J, o g 8 6 5 <5 <o-< c mA HN V\ ft c'\f 3CHM<O30n 5X3 < 4 UN *> 3 O r*CO r-t J - ft ft CtOH 9* ft On Se> d -3 \A CCOM $ 18* 4c-23 ft # ftftS i-4 <- fr > 'oO oCM ftft sa s\s H UoN On M* CCOOO_3 OO 'Q.O-t rrCNlM<HCnM > 6 v*> CM Si PS ftS \A eHfotHcooOfc tm 0r4*H a M rM cr*T ftRS .3 ssj \VOAN\r%f* ft CCOM r* rA 1 ft ?NwOw*!!P!PF 3 S >(-04 -CH3M <y ro as* S WOOr4V*SJ c- <9 S ft ri ft o. UN S k5T ft *V\ HCO3-3 B5O" o \N-.,.*->S_ * *> ' f v- 5f '' ^ - - - \ nS;;*ir. * H < #> > * e ,8 #2 *. VCCMMn OOCmn aw <r> ss -3 -N S On ft E 3$ VN -a8CM>CoM sss Oc245 f.CHMtfUXtON *> V\ o o CC<mN C<?>> G--3J ft saa o N -*N n g S> fit OH fY OHf* f-f-f ftft ftft ft ft ft r* H 444 c?ft . U\n W VN ft Wfr~ c~ CO On oft O On rN\r O rH f-f o_ o CM ' O NO o -f-f^ rH\ H<^\ Hfn <* <>*> rM .lli2 3 3 * 2,i76.51i ' 17,li0C# 1 0 -3 1 -5 1 ___________ 17,1100# 10-31-L6 COPPER OXIDE GLD 045516 svs>iosfs 404 O ) a 8# 0O4k IO**l.l 33 g dV\JO3 ids sscs <*S s. as I SR isss l 04 0 04 dd M_3 f- in CO <*V0O <-4 *\r< 9\ s*' <5 0 tO VV-3CN r-T cnxr\| V\\A CM s5O CO 04 SH OI a aS i3 |a 3 5Q 5 S & VOJ ONH I r-f ^ fn <n 1 s && &':'?-1^25! ^rlv*|5 ''rssrtv-'. s i^s s s p4s miM V-"" "O <0-3 * 333 Os CPOOVk 'r%'Wfc ..! >o O u> eo 21 -C3M*VP.VoS Os <*s fcal 33 3 -0a4 o sO * m 3* a OU#V\ C>53 fc VN Sag & t"-3 0-0 c m * 33S S v\ 3N lo*s\ S3 m idA H&& * 9 m HHH 4\n w? HMH rS\nIScn *. n dS\howp uSs-e3ssmO c mvAh 33$ 4dd | t ssaa (>t H c4H H fvnn < A44A 03 5 a 0& <Rn OTsS-N3 u0O--ss SCjyNCNoO Os os<5 nn rt H GLD 045517 FEDERAL INCCMS TAX SCHEDULE FEDERAL INCOME TAX SCHEDWii GLD 045518 -THE OLLDDEN COHPANT CLEVELAND GLD 045519 FEDERAL INCOME TAX SCHEDULE GLD 045520 \Oofs- 8 S CD **\ <K 0\n 3 H H H r^( fH*\ H 666661 r-i rH ^ r4 ^ ^ Hi ga 1 3 V Is 3 GLD 045521 NVl^N O' Os p _ Os o VNNN0 CO 3` VS S5h SO Os ri *3 9 3a S * -n3 nf--d-3 C- -3 45 <*N U Z 3 JjOi n aSfcSg 4HPirOt 5 9 VS .5 tv * ^3sOVSsHt'SgVOj s O 0*0 3Sg sii * ri -t r* s s? & fc e t <3 1 s * o 3 co p- tv \A Os P CM t-- ro~-S-34 cosn -eoo vsp- p os cs* ns o o 3 Os H tJ.N oo > p- f-i ..rtsas. % r&&: 8 35* ^ tv* vs * ' HHN i*3$| lOMON 3i S Sr 3i &t ;as*sl:' * a 3 3s Vss 3SS sg H 33?<? aaas JXvNi. 3 wRU *4 3 !i 3 CD 5 tv 5 p* % tv H a >* rs tHHo n 5 n\ SJo5vfse*-rt_ilr4W9* rn>(AsHNC_OO %Ofr---"VH0sHv> CV rt I=V5fc p-4 H 3 Os Os Vs pO P- co vs p- o p- <o jr ns CO Os M Pt Vs^ o s S<*s o42sos -Of! CV <v tv eo?' Nn'S4 NPsONOp- xHA*vt; u HH t > V\440H p-, Vsoa f~ r( N n-3fr oQ Vs Vs CV V\03 -4" o CSI Csl CV <V CV 5% \A V\ I* OOH' 03 r* Os 3 pO- wrt'pO- tJv O-4 (OOs')"] r-sD m On p-w 3/H tv *n CIHHMn CV* 3 Gs Gs A 4o 4-< 4nV4"-04 -OOv'Q? 3 sd oHPH irtHi HO rOt HO OH OH op 3 S Nb N eM--4 1 nl*Ss IOTS'. i VHOs rnP#1i. i GLD 045522 FEDERAL INCOME TAX SCHEDULE ;3 V\ VsW rttOJ nC 3 5$ r (k j S 3? N^O** O J0s<O<O N . ">o w i-t w g -T4 VS.O R FEDERAL INCOME TAX SCHEDULE w US Os o\ 83 Os o 5 3& _ usvs NO f S3* : :.v^yCu\v\ Msaan %%%%*%*, OO^sOsCOs^Os vsv/s [sails > . QHNVt S* ' - * S38 r^Heo r-s -3 -4 i > 3 3?3?:f3$3 OdNOlO -rf-r-?? O3 RRR RRRR A RRRRRRji RRRRR <4<*<4<S HptrlH <4 - . h h SSh h h <4 c4 <4 i <4 Hrtrtrlrt *> h ... d SO 3* 5* csj5 (3r--' OS 8 AHI g GLD 045523 FEDERAL INCOME TAX SCHEDULE 1 a a <5 *8 1 s si o 5 u 6 Ov 8 to rA CO 38S! 'Ra -3 *n O' njN> i~ to SfcS 35& OvOS in a c 38 m i-- <e T CO .. as .- * ft 38 *>'* .5 rfg mF< fj 'n . 0 JJO Ov epwS> 3IK$OVSQN rTr-T 0 <v <M oOk v\ ^33 . ;^` -. V^ s s nrMN/3%'0n ;, Stel sj o ' o3 8v\ . *' i~- r*z .te^r * '= .':','r^ 3 I' | r fM s Sm -9 Ov sxpx r-TtU O ft 3S 3f,* P-\a V\WCM o \A * i*A at&5 <v eJ.T *8 : -J? S3 '''a SSSJSiS] &3&r tnco . *'* A"'-^,' u\.3 c>; HHHSJH.SN3A II? s % Ok co i-?V> '..X.v * ' <N o Sft R* in 09 8a 3 . 'O l 8^83 344 Hrim O OS?-3 HnOr* >Q UNO O' O- ^ 0 UKXJ'O CM (M V>*3 H nw co 3voj 3 o Q 'O H Ok Ov *-r%V *???' aUNUv'O V\t~fV\ a, *3Si|S--13 Si c? * % * *r vk Ov j v \ p-in 9vr(<A 8 a 3358 i i r Hf+\Hry<H+\tH*\ ooii HHHH 1 s O 8 8 US 4 >o 4 3 $<? 3 3i 5i 8i mi & 88 aaas Hn HHHHH 3s4 3333 44 4 4 HHHH ag u< <W0 3 4 GLD 045524 -a- FEDERAL INCCWE TAX SCHEDULE S'tO4 r- i fts"^ * C* rH 1 * .t a O OJW s&rtSa ft fi *> 0Pv-p0\0O<O0 VV%k a%- Ovf> 4 . . .<* i *A^.. * ^ 3ft OI r* . s-^ '- i . . *>,4? />X;.. 5r v -V' ... "Jj'V > . ------ - ^ e ase r\Nrt < as* CO CO CO Si V>l 004 t-CO 3 pi OOVVA\4H$ 1 ft r4C>\ *r?.3 H o$ 3* I 5 K 6 % S 1 laps . f w w V.:v $3 NW<C p< *?; .' 33 m ftV\ ps.-t.rf KN^ To \/n 04 04 O' O 33S -S 3 >* 3 -<3-7j_3 \A 3?^SS WTC & t $ st a lit SSft 1ft *** 444 44A44 d4 - M & d aaa 666 H HH 13 gClAf- a W Vt 3 *? <& 5 03 I o g 3 f 3 GLD 045525 un ro Vs UNO f-- O O CO CM UN C PS i-4 O CM r? * > & SSJj us <u| r\ c m -- - v > - pn r* -3 ,' St'S* RpaS CM W CM O rf fr 8 PWM UNPNcMCM PN "*,, 8 v' I S3l ^ O H ONO PN *H -CM CM S' a* u\ a",H sJ'OI ..NO U\| V\Cn O\M tsssssi laws OsrC M M S rt p n p n nc3 US UN u n R3 O C* H P0430 CM Os ttVr^ 3 R FEDERAL INCOME TAX SCHEDULE ''I***=SS^3JsewSW5,5wS#fe 'O jkWHP! * un <-1 PN UN 3 RS CM UN *-TH u n r-- O P OWN i-T r* R <s> P\ P-UN^y jroo RSdg CM H CM O r* PN * Sf wnnw'n 8 OS too OWwNS >r- -- * . . 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HMk a -C 3 * i H 3 3 GLD 045526 ftt HHH ox cv *38'SS 3a^0QJ uw^>Veop\ $33 >rm-0<*-03*x ^3 <ro<Wou0\ MOSx iOO' Hw(*> o <*v 33 o R >o 3 o && vx O vr n 8<*\ftp<v e ^.1 *\ c*x rxc5 r-- iSS e> -ass f-\T\ S-O r>x CVHrt i 1 NHNOP" 'OHjjHW "1 oTC* r? rt" *-T Ox<*\-3 -3 Ii-T I-T-3 CO n Si & mO 'ti'QNO 3333^ 1 HrIHHrl C\ S33333 a p{i4rld >00 A O 444lfl (III rlHHH sas ii H4r( 33S iii I-* (H r4 n #*% f**> &&& 3 *%#***% ss2 rx m ioi HHH l-\ (*> J< ooo rlrtH FEDERAL INCOME TAX SCHEDULE GLD 045527 FEDERAL INCOME TAX SCHEDULE I t t- GLD 045528 FEDERAL EXCESS PROFITS TAX SCHEDUIE THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE SP-2 (B) - LINS 1 AVERAGE DAILY AMOUNT QF BORROWED CAPITAL Date November 1, 1950 November 3 November 6 November 8 November 10 November lii November 16 November 21 November 22 November 2l November 30 December i*. 1950 December 5 December ll December 15 December 20 December 27 January 2, 1951 January 10 January 11 January 16 January 18 January 30 January 31 March i*. 1951 March 18 March 26 May May ' 1, 1951 16 June 13 June 18 June 19 June 21 June 22 June 27 June 29 July 18, 1951 July 19 July 20 July 2ii July 26 July 27 July 30 July 31 Debit Credit $ 500,000 500,000 500,000 500,000 500,000 500,000 500,000 3 ,000,000 500,000 500,000 1 ,000,000 1 ,000,000 500,000 500,000 1 ,000,000 1 ,000,000 500,000 1 ,000,000 500,000 $1,000,000 5oo,coo 500,000 500,000 1,000,000 1,000,000 500,000 500,000 500,000 1,500,000 500,000 500,000 500,000 500,000 500,000 1,000,000 1,000,000 1,500,000 1,000,000 500,000 1,500,000 1,000,000 500,000 500,000 6,000,000 Balance Credit No. Days Total Dollar Days $ 1,000,000 1,500,000 2,000,000 2,500,000 3,500,000 h,5oo,ooo 5,000,000 5,500,000 6,000,000 7,500,000 8,000,000 8,500,000 9,000,000 9,500,000 10,000,000 11,000,000 12,000,000 13,500,000 il,5oo,ooo 15,000,000 16,500,000 17,500,000 18,000,000 18,500,000 18,000,000 17,5*00,000 17,000,000 16,500,000 16,000,000 15,500,000 21,500,000 21,000,000 18,000,000 17,500,000 17,000,000 16,000,000 15,000,000 iit,5oo,ooo 11,000,000 13,000,000 12,000,000 11,500,000 10,500,000 10,000,000 3 3 2 2 u 2 5 1 2 6 1 1 9 1 5 7 6 8 1 5 2 12 1 32 11 8 36 15 28 5 1 2 1 5 2 19 1 1 1 2 1 3 1 92 $ 3,000,000 1,500,000 1,000,000 5,000,000 11,000,000 * 9,000,000 25,000,000 5,500,000 12,000,000 15,000,000 32,000,000 8,500,000 81,000,000 9,500,000 50,000,000 77,000,000 72,000,000 108,000,000 H, 500,000 75,000,000 33,000,000 210,000,000 18,000,000 592,000,000 252,000,000 110,000,000 612,000,000 217,500,000 118,000,000 77,500,000 21,500,000 12,000,000 18,000,000 87,500,000 31,000,000 301,000,000 15,000,000 11,500,000 56,000,000 26,000,000 12,000,000 3l,5oo,ooo 10,500,000 920,000,000 365 $1*880,000.000 Average Daily Amount = $13,369>863#01 - 50 - GLD 045529 FEDERAL EXCESS PROFITS TAX SCHEDULE THE GLIDDEN COMPANY - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE EP-2 (B) - LINE 9 AVERAGE DAILY AMOUNT CF DISTRIBUTIONS DURIIC THE TAXABLE TEAR NOT OUT CF EARN DCS AND PROFITS OT'SUCH YEAR (Reduction in Capital Attributable to Redemption and Conversion of Preferred Stock) Date May 10, 1951 May 21 June 21 July July 5, 1951 12 July 26 July 27 July 31 August August l, 1951 6 August 7 August August 9 10 August 13 August ll* August August 15 16 August August 17 20 August 21 August 22 August August 23 2k August August 27 28 August August 29 30 ,August 31 September h 1951 September 5 September 6 September 7 September 10 September 11 September 12 September 13 September li* September 17 September 18 September 19 September 20 September 21 September 2l* September 25 September 26 September 27 September 28 Distribution * 12.95 33.16 13. 1*8 17.1*1* 26.21* 80.67 hi.Ul 39.15 ho. 71 20.1*8 i*o.5o 20.50 68.00 65.53 38.36 160.39 172.52 337.76 771.62 1,098.77 1,389.91* 2,615.68 1,818.30 2,093.23 1,392.10 2,539.33 2,065.09 5,122.86 1,351.13 2,137.93 3,210.83 3,986.53 3,770.19 3,302.9k 3,150.5l 2,lli3.79 2,998.11 3,353.21 1,736.28 2,530.1*5 2,650.13 2,652.77 U,792.65 l,li06.70 2,hl2.6l 1,987.55 2,968.16 - 51 - Days 17h 163 132 118 111 97 96 92 91 86 85 83 82 79 78 77 76 75 72 71 70 69 68 65 61* 63 62 61 57 56 55 5h 51 50 1*9 1*8 1*7 1*1* 1*3 1*2 la 1*0 37 36 35 31* 33 Dollar Days 2,253.30 5,1*05.08 1,779.36 2,057.92 2,912.61* 7,82h.99 3,975.36 3,601.80 3,70l*.6l 1,761.28 3,1*1*2.50 1,701.50 5,576.00 5,176.87 2,992.08 12,350.03 13,111.52 25,332.00 55,556.61* 78,012.67 97,295.80 180,1*81.92 123,61*1*.1*0 136,059.95 89,091*.1*0 159,977.79 128,035.58 312,1*91*. 1*6 77,Oll*.la 119,721*. 08 176,595.65 215,272.62 192,279.69 165,11*7.00 lSl,37li.99 102,901.92 11*0,911.17 ll*?,51a.2it 7h,660.01* 106,279.32 108,655.33 106,110.80 177,328.05 5b,61a.20 8l*,l*la.35 67,576.70 97,9t9.28 FEDERAL EXCESS PROFITS TAX SCHEDDIE THE GLIDDfiN~Cb'MPANT - CLEvElAND, OHIO Fiscal year ended October 31 , 1951 SCHEDULE EP-2 (B) - LIKE 9 (Continued) Date October October October October October October October October October October October October October October October October 1, 1951 2 3 U 5 8 9 10 11 12 l5 16 17 18 22 23 Distribution ( $lb,b90.00 ( 979.6b 156.91 163.95 37.80 69. b5 U5.36 16.12 U2.53 U2.U3 hh.h2 18b.28 13 b. 01 13 b. 76 117.08 186.36 b5.7b $91,599.b9 Daily Average + Para 30 30 29 28 27 26 23 22 21 20 19 16 15 lb 13 9 8 Total 365 Dollar Days $ b3b,700.00 29,389.20 b,550,39 b,590.60 1,020.60 1,805.70 l,0b3.28 1,01b.6b 893.13 8b8.60 8b3.98 2,9b8.b8 2,010.15 1,886.6b 1,522.0b 1,677.2b 365.92 U.322,127.88 t ll,8bl.b5 - 52 - GLD 045531 FEDERAL EXCESS PROFITS TAX SCHEDULE THE GLIDDEN COMPANY - CLEVEIAND, OHIO Fiscal year ended October 31, 1951 SCHEDtJIE EP-2 (B) - LINE 16 INADMISSIBLE ASSETS TREASURY STOCK Debit Credit Balance Days Dollar Days November 1, 1950 * b60,S35.22 2 * 921,070.bb November 2 $ 2,77b.10 U63.309.32 b 1,853,237.28 November 6 $ 3,360.00 b59,5b9.32 1 b59,9b9.32 November 7 It, 200.00 Ii55.7li9.32 1 b55,7b9.32 November 8 2,100;00 b53,6b9.32 1 bS3,6b9.32 No venter 9 8,UOO.00 bb5,2b9.32 b 1,780,997.28 November 13 2,673.60 bb7,922.92 3 l,3b3,768.76 November 16 2,77k.10 b50,697.02 1 bS0,697.02 November 17 2,100.00 bb8,597.02 12 5,383,16b.2b November 29 b,586.bL bS3,!83.b3 5 2,265,917.15 December b, 1950 2,723.85 b55,907.28 7 3,191,350.96 December 11 10,793.87 b66,701.15 2 933,b02.30 December 13 2,711.29 b69,bl2.bb 5 2,3b7,062.20 December 18 8,2b6.2b b77,658.68 3 l,b32,976.0b December 21 1,050.00 b76,608.68 5 2,383,Ob3.bO December 26 2,723. 85 li79.332.53 3 l,b37,997.59 December 29 2,711.29 b82,Ob3.82 b 1,928,175.28 January 2, 1951 5,309.52 b76,73b.30 2 953,b68.60 January It 2,799.23 b79,533.53 7 3,356,73b.71 January 11 2,92U.85 b82,b58.38 b 1,929,833.52 January 15 2,962.5b b85,b20.92 11 5,339,630.12 January 26 b ,200.00 b8l,220.92 10 b,812,209.20 February 5, 1951 2,100.00 b79,120.92 1 b79,120.92 February 6 68,507.72 bl0,6l3.20 1 blO,613*20 February 7 b,200.00 b06,bl3.20 5 2,032,066.00 February 12 8,236.00 398,177.20 l 398,177.20 February 13 2,100.00 396,077.20 6 2,376,b63.20 February 19 2,100.00 393,977.20 1 393,977.20 February 20 21,l6b.00 372,813.20 5 1,86b,066.00 February 25 2,100.00 370,713.20 2 7bl,b26.bO February 27 b, 200.00 366,513.20 6 2,199,079.20 March 5, 1951 b,200.00 362,313.20 3 1,086,939.60 March 8 12,600.00 3b9,713.20 29 10,lbl,682.80 April 6, 1951 6,300.00 3li3.la3.20 n 3,777,51*5.20 Ala'll 17 b,200.00 339,213.20 l 339,213.20 April 18 2,100.00 337,113.20 27 9,102,056.b0 May 15, 1951 b,200.00 332,913.20 3 998,739.60 May 18 12,600.00 320,313.20 17 5,bb5,32b.bO June U, 1951 8,bOO. 00 311,913.20 11 3,b31,Ob5.20 June 15 b, 200.00 307,713.20 6 l,8b6,279.20 June 21 12,600.00 295,113.20 21 6,197,377.20 July 12, 1951 2,100.00 293,013.20 12 3,Sl6,l58.b0 July 2b 2,100.00 290,913.20 6 I,7b5,b79.20 July 30 13,931.50 276,981.70 1 276,981.70 July 31 5,880.00 271,101.70 1 271,101.70 - S3 - GLD 045532 FEDERAL EXCESS PROFITS TAX SCHEDULE THE GLIDDEN-COUPANI - CLEVELAND, OHIO Fiscal year ended October 31, 195l SCffiDULE EP-2 (B) - LINE16 INADMISSIBLE ASSETS (Continued) Debit____________Credit__________ Balance______ Days Dollar Days TREASURY STOCK (Continued) August 1, 1951 August 3 August 8 August 16 August 23 September 21, 1951 October 31, 1951 $ 10,251.17 2,100.00 $ 269,001.70 2$ 538,003.10 1*,200.00 261,801.70 5 1,321,008.50 5,250.00 259,551.70 8 2,076,113.60 8,100.00 251,151.70 7 1,758,061.90 1,100.00 217,051.70 29 7,161,199.30 1,200.00 212,851.70 10 9,711,068.00 253,1C5.87 -0- --0-- Total 335 $1277060,051.87 STOCKS AND BONDS November November November March April June July October 1, 1950 16 22 30, 1951 3, 1951 12, 1951 19, 1951 31, 1951 1.00 1.00 1,512,863.83 11,561.06 22,000.00 1,512,063.83 15,000.00 Total t 236,889.1a 236,890.1a 2tt,891.il 1,727,755.21 211,891.11 229.155.17 211.155.17 16 6 128 1 70 37 104 -o- w 3,790,230.56 1,121,312.16 27,506,100.1*8 6,911,020.96 15,01*2,398.70 8,1*89,852.39 22,303,368.88 $ 85,ia*,3U.i3 $212,521*.366.30 Average Daily Amount of Inacfaiissible Assets for Taxable Year $ ,582,258.51 - 51* - GLD 045533 FEDERAL EXCESS PROFITS TAX SCHEDULE THE GLIDDEN OOMPANT - CLEVELAND, OHIO Fiscal year ended October 31, 1951 SCHEDULE SP-1 - LINE 2g UNUSED EXCESS PROFITS CREDIT ADJUSTMENT 1. Excess Profits Credit for fiscal year ended October 31, 1950 $lli,906,190.22 2. Excess Profits Net Income for fiscal year ended October 31, 1950 $13,322,281.8? 3. Unused Excess Profits Credit for fiscal year ended October 31, 1950 $ 1,583,908.37 U. Portion of Item 3 available as a carry-over from fiscal year ended October 31, 1951 represented by the fraction, which has as its numerator the number of days in that part of its taxable year after June 30, 1950, and which has as its denominator the total number of days in the taxable year. 123/365ths $ 533,755.U2 - 55 - GLD 045534