% Mr. J. Gates @ Williams October Royalties received by & M. S. Browning Company Less Other Income Net Income-J. Browning J. and M. & 2,371,588.22 198,907.34 S&S. Company Federal Income Paid in 1942 1943 M. Costs M. le, $2,172,680.88 Taxes 1,075,421.04 Required Dividend Distribution to Stockholders in 1942 under Internal Revenue Act Applicable to Personal Holding Companies Taxes: Federal Income Tax $1,070,000. 00 to 7 Corporation L075, Hel. Ol - Federal Income Stockholders Tax to on above Royalties state 592,873.89 ° Taxes 50,501.19: Total As Compared Taxes $1,718,796.12 Royalties $2, 371,588.22 With: Corporation Amount Absorbed by: Other Income and Federal Income Corporation Federal Income Costs Tax to Tax to 198,907. 34 1,675, Stockholders State Income Retained by aggregating of the only thus 50,501.19 Stockholders n53,834.76 $2,371,588.22 family, after $453,884.76, or be bh5..35 592,873.89 $2,371,588. Cn will 8.397 21.04 Tax Total It Percent observed the net that amount payment of Federal 19.13% of the total. out 25.00 eee 22 100, 00% stems of total royalties retained by and income State various LS 19.13 members taxes, is