1982                    1931

Gross Income {Brought Forward).................       $4,376,754.75      $4,020,402.31

Income Deductions:

Interest Deductions..........................         1,631,214.08        1,461,923.45

Rent for Lease of Other Road and Equipment. .                  225.00                 225.00

Other Rent Deductions......................             90,113.97             35,083.96

Sinking Fund Accruals.......................                  658.20                 658.20

Amortization.......................   .......             10,575.51             13,462.41
 

Total Income Deductions..............        1,732,786.76        1,511,353.02

Current Income Carried to Surplus............         2,643,967.99        2,509,049.29

Surplus:

Balance  June   30,   1931,   as  per

Company's Report...........   $4,028,487.55

Add Amount deducted in Com¬
pany's Report for Elimination
of Inter-Company Securities in
Consolidated Balance Sheet....     1,071,526.49

Surplus as per Books...................        5,100,014.04

Brooklyn Bus Corporation Deficit, June 30,1981           *S8,Z33.87
 

Total.................................         7,705,748.16

Deductions:

Expenses determined during 1932 applicable to

prior years................................            165,116.44

Additions to Reserves for Damages and for De¬
preciation of prior years....................            216,161.57

Adjustment of Reserve for Undetermined Assets,

etc......................................               4,317.93

Miscellaneous Adjustments...................             73,709.10
 

Total Deductions.....................           459,305.04

Additions:

Profit on Sales of Real Estate.................            112,604.75

Reduction of U. S. Tax Accruals of prior years to

amount finally determined, less Expenses.....             44,792.36

Adjustment of Fixed Capital Accounts.........             30,610.11
 

Total Additions.......................            188,007.22

Net Deductions...............................           271,297.82

Balance of Surplus Before Dividends.........         7,434,450.34

Deduct Dividends Declared on Preferred Stock

of Brooklyn and Queens Transit Corporation        1,699,500.00
 

Surplus, Balance June 30, 1982.........      $5,784,950.34
 

*Figures in italics indicate deduction