statement of income for the years ended october 31 1958 and 1957 income gross profit from construction and mining operations dividends note 1 ) .- gain on sale or liquidation of land and investments gain on sale of property and equipment other expenses general and administrative expense employees retirement plan provision interest net income before provision for federal income taxes provision for federal income taxes net income for the year provisions for depre 2,701,198 205,000 671,957 3,007,718 1,100,000 2,526,91 1 643,587 692,583 3,132,484 400,000 nd amortization included above total 2,215,355 for 1958 and 2,161,743 for 1957 statement of earned surplus for the year ended october 31 1958 balance october 31 1957 add net income for the year deduct dividends on capital stock cash 40 per share securities at cost market value 1,388,810 : balance october 31,1958 19,853,600 restricted under bank loan agreement . the notes to the accompanying balance sheet are an integral part of these statement 712,210 87,506 20,234,323 1,907,718 accountant's mpany we have examined th tion company a delaw and the related statements of mdards inting rt tlance sheet of utah construc corporation as of october 31 1958 ome and earned surplus for the year s made in accordance with generally accordingly included such tests of the ds and such other auditing procedures as we considered in our opinion the accompanying balance sheet and statements of income and earned surplus present fairly the financial position of utah construction company as of october 3 !, 1958 and the results of its operations for the year then ended and were prepared in conform ity with generally accepted accounting principles applied on a basis consistent with that of the preceding year arthur andersen & co december ii 1958 i'.f •;¦"