consolidated balance sheets assets current assets cash marketable securities at cost which approximates market . accounts and notes receivable inventories at the lower of average cost or market — mining dredging prepaid expenses total current assets investments affiliated companies note 1 equity in joint ventures and limited partnership . • land and real estate — real estate held for development and sale land held for investment improved real estate held for investment less of 3,022,526 in 1970 and 2,717,541 in 1969 . cumulated depreciation other assets long-term receiv other equipment and facilities at cost mining lands leases and development costs mining equipment and facilities - - .......... mining facilities under construction and pre-mine development - dredging equipment and facilities other less — accumulated depreciation and depletion note 6 ....... utah construction & mining co and subsidiarie s 7,072,311 11,543,130 9,210,251 9,636,631 922,442 4,931,070 ? 43,315,835 $ 84,852,532 2,616,907 34,740,876 2,010,558 10,420,085 134,640,958 $ 46,017,476 1,878,182 $ 47,895,658 $ 14,610,337 82,904,037 74,100,469 5,645,318 1,759,422 179,019,583 44,195,993 $ 7,674,257 32,512,817 10,696,432 7,977,639 1,079,152 2,074,463 $ 78,806,546 2,068,741 33,461,157 2,265,379 } 26,192,057 3,108,443 $ 13,642,541 63,948,574 13,542,187 5,340,723 4,009,037 100,483,062 36,270,024 $ 64,213,038 280,601,389 liabilities and capital current liabilities bank loans notes and contracts payable and current portion of long-term liabilities . . accounts payable accrued liabilities accrued income taxes total current liabilities long-term liabilities net of current portion notes 3 and 4 unsecured assessment liens purchase money obligations and other notes secured only by related land and real estate reserves and other deferred income taxes including a reserve for taxes of 6,089,779 in 1970 and 5,252,797 in 1969 payable upon distribution of earnings of affiliated companies and subsidiaries other minority shareholders equity in utah development company a subsidiary contingent liabilities and commitments note 8 stockholders equity preferred stock without par value — authorized — 1,000,000 shares issued — none common stock par value s2 per share notes 3 and 9 — authorized — 20,000,000 shares issued 14,100,215 shares in 1970 and 12,917,142 shares in 1969 capital surplus earned surplus including equity in undistributed earnings of affiliates notes 1 and 4 treasury stock at cost — 200 shares $ 5,457,313 10,875,838 7,676,398 5,500,000 $ 29,509,549 23,869,912 $ 96,148,912 i 20,631,506 3,698,109 28,200,430 54,384,688 124,912,307 207,495,707 360,676,041 3,491,739 4,412,361 6,784,418 5,121,847 23,616,546 116,480,546 $ 10,672,076 4,083,253 25,834,284 347,475 103,375,108 1,718 129,555,149 280,601,389