utah construction & mining co and subsidiaries consolidated balance sheets october 31 1962 and 1961 utah construction & mining co and subsidiaries current assets cash marketable securities at cost which approximates market accounts and notes receivable from operations inventories at the lower of cost or market — mining construction prepaid expenses total current assets investments affiliated companies note 1 ) equity in joint ventures land and real estate — land held for development and sale less purchase-money obligations note 2 . land held for investment improved real estate held for investment less accumulated depreciation of 1,341,699 in 1962 and 975,905 in 1961 other assets long-term receivables other construction and mining equipment and facilities at cost construction equipment and facilities mining lands leases and development costs mining equipment and facilities less — accumulated depreciation and depletion 1962 $ 4,500,408 48,600 17,960,780 2,722,938 2,281,265 1,895,250 $ 29,409,241 $ 25,423,904 2,806,302 12,076,227 2,885,832 $ 53,331,469 $ 5,417,314 2,562,953 $ 7,980,267 $ 22,941,561 8,120,025 23,361,109 $ 54,422,695 25,437,685 $ 28,985,010 119,705,987 1961 $ 2,348,882 3,275,134 11,543,789 2,835,054 2,129,334 953,472 $ 23,085,665 $ 22,721,132 3,280,135 14,044,360 2,660,656 10,010,065 $ 4,892,307 1,494,944 $ 19,906,088 6,840,057 18,246,437 $ 44,992,582 21,353,336 $ 23,639,246 liabilities and stockholders equity current liabilities current portion of bank loans notes and contracts payable . accounts payable accrued liabilities total current liabilities long-term liabilities 5 % notes payable to insurance company due in varying installments from february 1 1966 to 1981 note 3 5 notes payable to bank due october 31 1963 renewable note 3 534 % bank loan secured by improved real estate notes and contracts payable due in variable annual installments to 1977 . . . deferred income taxes other stockholders equity capital stock par value 2 per share — authorized — 10,000,000 shares 10,250 shares reserved for issuance under employees stock purchase plan outstanding 2,152,103 shares in 1962 and 2,1 10,647 in 1961 capital surplus note 4 earned surplus including equity in the undistributed earnings of affiliates notes 1 and 3 1962 $ 3,691,340 6,738,833 3,510,464 1,558,381 $ 15,499,018 $ 20,000,000 4,500,000 1,500,000 4,910,337 8,115,920 1,856,428 $ 40,882,685 $ 4,304,206 7,221,099 119,705,987 1961 $ 2,090,579 6,045,120 3,461,484 1,072,730 $ 12,669,913 1,500,000 6,048,238 6,332,768 1,521,322 $ 4,221,294 5,625,043 $ 57,756,269 integral part of these b