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PLAINTIFF'S EXHIBIT
ASBESTOS INFORMATION ASSOCIATION/NORTH AMERICA FINANCIAL STATEMENTS (UNAUDITED) AUGUST 31,1979
CAP CO JEN OOI1128
4
Frantz & Company chartered
Certified Public Accountants
1000VermontAvenue, N.W. Washington, D.C. (202)628-1950
BIS WtSCONSW AVENUE BETHESOA. MARYLAND ZOOM
POIJM7-M70
3
FRANK C. FRANTZ, CPA JAMES K WARROLJR.CPA Michael g. Conaway, cm tVCHARO T. DAVB. CPA STEPHEN G. STRAOC.ce* LAURENCE 0. LEVY, CPA
JOHN W. WEST, CPA ANDREW C. SAXLEHNER, CPA JOSEPH L QUINN, CPA ARTHUR AUERBACH, CPA
To the Board of Directors ASBESTOS INFORMATION ASSOCIATION/NORTH AMERICA
The accompanying balance sheet of ASBESTOS INFORMATION ASSOCIATION/ NORTH AMERICA as of August 31, 1979, and the related statement of income and expense and the supplementary data contained in the schedule of contingency funds for the eight months then ended have been compiled by us.
A compilation is limited to presenting in the form of financial statements informatiomthat is the representation of management. We have not audited or reviewed'the accompanying financial statements and, accordingly, do riot express an opinion or any other form of assurance on them.
We are not independent with respect to ASBESTOS INFORMATION ASSOCIATION/ NORTH AMERICA.
Washington, D.C. September 11,1979
CAP CO JEN 0011129
ASBESTOS INFORMATION ASSOCIATION/NORTH AMERICA NOTES TO UNAUDITED FINANCIAL STATEMENTS AUGUST 31,1979
Summary of signficiant accounting policies Basis of accountings
Assets and liabilities, end income and expenses are recognized on the accrual basis of accounting. Furniture and equipments
In view of the Association's not-for-profit form of organization and activities, furniture and equipment are charged to expense in the year of purchase rather than being capitalized. Income taxes:
The Association is exempt from income taxes under the provisions of Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes is made in these financial statements.
See accountant's compilation report.
CAP CO JEN OOI1130
I
ASBESTOS INFORMATION ASSOCIATION/NORTH AMERICA BALANCE SHEET (UNAUDITED) AUGUST 31, 1979
ASSETS
CURRENT ASSETS Cash in banks: Checking account Savings account
Total cash in banks
Investment in U.S. Treasury Bills, at cost Accounts receivable Interest receivable Prepaid insurance Other prepaid expenses
TOTAL ASSETS
$ 9,187 34,375
$ 43,562
100,617 3,070 2,550 834 13,872
$ 163,505
-
LIABILITIES AND NET WORTH
-
CURRENT LIABILITIES Accounts payable Payroll taxes payable Deferred income - dues collected in advance
Total liabilities
NET WORTH Beginning balance Ycar-to-date net income
Ending balance
TOTAL LIABILITIES AND NET WORTH
$ 9,700 2,371
29,263
41,334
8 73,376 48,795
122,171 8 163,505
The accompanying notes are an integral part of this statement. See accountant's compilation report.
CAP CO JEN 0011131
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CAP CO JEN 0011132
ASBESTOS INFORMATION ASSOCIATION/NORTH AMERICA SCHEDULE OF CONTINGENCY FUNDS (UNAUDITED)
EIGHT MONTHS ENDED AUGUST 31,1979
SCHEDULE A
CONTINGENCY FUND/SPECIAL PROJECTS Miscellaneous
$ 4,641
CONTINGENCY FUND/LEGAL MEDICAL RESEARCH Legal
Medical
$ 13,623 ________
$ 13,623
See accountant's compilation report.
CAP CO JEN 0011133