utah construction & mining co and subsidiaries utah construction & mining co and subsidiaries statement of consolidated income for the years ended october 31 1966 and 1965 income gross revenues from operations note 4 costs and expenses gross profit from operations equity in net income of — affiliates note 1 joint ventures proportionate share of gross revenue was approximately 38,000,000 for 1966 and 49,000,000 for 1965 note 4 gain on sale of equipment and investments interest other income expense expenses : general and administrative employees retirement plan provision interest net income before income taxes provision for income taxes net income 198,453,451 86,820,580 11,632,871 6,711,959 4,396,303 1,682,207 958,484 315,356 25,066,468 $ 3,727,266 705,000 2,658,739 $ 7,091,005 17,975,463 4,800,000 statement of consolidated earned surplus for the years ended october 31 1966 and 1965 balance beginning of year add — net income deduct cash dividends 1.10 per share in 1966 and 1.00 per share in 1965 balance end of year including equity in undistributed earnings of affiliates notes 1 and 3 the accompanying notes are an integral part of these stater 28 64,933,418 13,175,463 78,108,881 4,730,263 73,378,618 89,317,424 76,372,121 12,945,303 5,494,231 465,982 1,749,375 338,147 264,427 20,728,611 $ 3,383,893 680,000 2,113,227 $ 6,177,120 14,551,491 3,535,000 11,016,491 58,217,167 11,016,491 69,233,658 4,300,240 statement of funds for the years ended october 31 1966 and 1965 anying notes are an integral part of this funds were provided from net income 13,175,463 11,016,491 less undistributed income of affiliates 4,390,004 4,589,386 $ 8,785,459 $ 6,427,105 add — depreciation and depletion expenses not requiring an expenditure of funds 4,565,295 4,899,797 13,350,754 11,326,902 increase in — long-term liabilities — loan from insurance company 10,000,000 — other net 4,866,660 3,934,995 decrease in — investment in joint ventures net of a 6,660,000 classification to long-term receivable 2,314,469 — otherassets — 657,930 total funds provided 30,531,883 15,919,827 funds were used for increase in net investment in — joint ventures $ — 10,887,144 affiliates net of undistributed income 4,725,227 372 land and real estate 5,036,921 1,435,000 construction and mining equipment and facilities 8,863,621 4,029,009 otherassets net of a 6,660,000 reclassification from investment in joint ventures . . . 3,634,281 — cash dividend paid to stockholders 4,730,263 4,300,240 total funds used 26,990,313 20,651,765 net increase decrease in working capital $ 3,541,570 4,731,938