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CHICAGO FIRE BRICK COMPANY Accountants1 Report
Financial Statements - September 30, 1960
PEAT, MARWICK, MITCHELL 8c CO.
CERTIFIED PUBLIC ACCOUNTANTS
Chicago Fire Brick
Annual Reports and
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Peat, Marwick, Mitchell & Co.
CERTIFIED PUBLIC ACCOUNTANTS 111 WEST MONROE STREET CHICAGO 3, ILLINOIS
ACCOUNTANTS * REPORT
The Board of Directors Chicago Fire Brick Company;
We have examined the balance sheet of Chicago Fire Brick Company as of September 30, 1960 and the related statements of earn ings and retained earnings for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the cir cumstances.
In our opinion, the accompanying balance sheet and state ments of earnings and retained earnings present fairly the financial position of Chicago Fire Brick Company at September 30, 1960 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.
Chicago, Illinois November 28, 1960
Chicago Fire Brick Annual Reports and
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Chicago Fire Brick Annual Reports and
CHICAGO FIRE BRICK COMPANY
Statement of Earnings
Year ended September 30, 1960 with comparative figures for 1959
Exhibit B
Net sales Cost of sales
Gross profit
Engineering, warehousing, and delivery; selling; and administrative and general expenses
Operating profit
Other income, less other deductions
Earnings before federal taxes on income
Federal taxes on income, estimated
Net earnings
1960
1959
$ 1,892,506.48 2,059,046.09 1.348,574.88 1.468.508.91
543,931.60 590,537.18
534.282.85 9,648.75 7,034.68
510.552.68 79,984.50 10.780.14
16,683.43 90,764.64 6.000.00 34.000.00
$ 10.683.43 56.764.64
Statement of Retained Earnings
Year ended September 30, 1960 with comparative figures for 1959
Exhibit C
Balance at beginning of year Net earnings for the year
Dividends paid - $1.00 per share each year Balance at end of year
379,201.53 331,638.89 10.683.43 56.764.64
389,884.96 388,403.53 9.202.00 9.202.00
380.682.96 379.201.53
See accompanying note to financial statements.
Chicago Fire Brick Annual Reports and nooocoT'nournrtf'o
CHICAGO FIRE BRICK COMPANY Note to Financial Statements
September 30, 1960
According to unaudited financial statements, the net assets at September 30, 1960 and 1959 and the net earnings for the years then ended of the wholly-owned subsidiary companies were as follows:
Wellsvllle Fire Brick Company: Net assets Net earnings
New Florence Fire Brick Company: Net assets Net earnings
1960
1959
1,637,325.09 1,584,528.97 57.128.62 156.975.51
201,024.24 198,431.41
2.592.83
1.403.06
Chicago Fire Brick Annual Reports and Insurance 000053