construction summaries of income and retained earnings for the year ended october 31 1955 summary of income income : gross profit from construction and mining operations $ 2,577,622 dividends received 939,412 gain on sale of property and equipment 353,342 gain on sale and liquidation of investments 314,052 other 181,949 $ 4,366,377 expenses general and administrative expenses 1,938,825 interest 240,003 2,178,828 net income before provision for federal income taxes $ 2,187,549 provision for federal income taxes 450,000 net income for the year $ 1,737,549 summary of retained earnings balance october 31 1954 15,174,533 add net income for the year 1,737,549 restatement of prior years depreciation on equipment less applicable federal income taxes 956,846 17,868,928 deduct : dividends on capital stock — cash 90 per share $ 789,784 securities at cost market value 277,440 21,106 $ 810,890 cash bonus paid to employees in lieu of 1954 contribution to retirement plan fund 50,000 860,890 balance october 31 1955 13,244,925 restricted under bank loan agreement 17,008,038 the first security fourth south building completed during 1955 s the newest and tallest office structure in salt lake city utah the first security bonk of utah n a engaged utah construction addili s to it sting buildings in salt lake construction company board of directors marriner s eccles chairman marriner a browning allen d christensen l s corey l t dee george s eccles w h harris e w littlefield shepard mitchell p l wattis officers mmmm marriner s eccles chairman of the board allen d christensen president and general manager e w littlefield vice president secretary and treasur c s davis vice president frank m keller vice president guy v sperry chief engineer j m horrigan controller and assistant treasurer charles w robinson assistant treasurer executive committee marriner s eccles allen d christensen e w littlefield