LEONARD PLUMBING & HEATING SUPPLY CO.

(September 1952)

AS PARTNERSHIP AS CORPORATION

ASSETS ASSETS

Fixed Assets 6483 Fixed Assets 6483

Current Assets 160792 Current Assets 160792
Other Assets 887 Other Assets 887

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TOTAL 168162 TOTAL 168162

LIABILITIES & EQUITY LIABILITIES & EQUITY

Current Liabilities 116541 Current Liabilities 116541

Stockholder Debt 45621

Partner Equity

Fazio 43170 Common Stock 6000

Ambrose 6451
Leonard 2000
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TOTAL 168162 TOTAL 168162

Note that current liabilities as set forth in the opinion – $162162 – appear to include partner accounts in
excess of $2000 each. The figure shown above -- $116541 – nets out these claims.

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SALES PROFITS
1951 665,748 40,935
1952 389,544 (22,521)