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<br /> December 31,
<br /> 2016 2015
<br /> LIABILITIES AND EQUITY
<br /> CURRENT LIABILITIES ,
<br /> Notes payable $ 500,000 $ -0-
<br /> Accounts payable and accrued expenses o e624\281 853,239
<br /> Accrued fees payable--affiliates 374,297
<br /> 1 Accrued fees payable--nonaffiliates 717,263 881,380
<br /> Due to employee/stockholder \� 392,777 -0-
<br /> Current maturities of long-term debt (eA( .) 159,166 154,083
<br /> ITOTAL CURRENT LIABILITIES 2,703,270 2,262,999
<br /> LONG-TERM DEBT, excluding current maturities• 602,052 756,894
<br /> DEFERRED INCOME TAXES 1 -0- 33,000
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<br /> I STOCKHOLDERS' EQUITY ��
<br /> Preferred stock, $1 par value: e„
<br /> Authorized--25,000 shares; issued a annd'outstanding--
<br /> I 608 shares in 2016 and 550 in 21'5 including
<br /> 300 shares in treasury ��� 608 550 •
<br /> Common stock,$1 par val'ue:
<br /> I Authorized--250,000 shear,es; issued and outstanding--
<br /> 15,340 shares in 20{1;6 and 2015 15,340 15,340
<br /> Additional paid iapital 1,075,101 1,025,159
<br /> Retained earnings 12,341,066 12,733,288
<br /> 13,432,115 13,774,337
<br /> Less Preferred stock in treasury, at cost 302,250 302,250
<br /> 1 Total controlling,interest in stockholders' equity 13,129,865 13,472,087
<br /> Total non-controlling interest in stockholders' equity 227,271 216,860
<br /> I13,357,136 13,688,947
<br /> $ 16,662,458 $ 16,741,840
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<br /> See notes to consolidated financial statements.
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