Note 1: The accompanying financial statements include the assets and liabilities of Marcus and Kelly Imrich. Assets are stated at their estimated current values, and liabilities at their estimated current amounts.
Note 2: The estimated current values of marketable securities are either (1) their quoted closing prices or (2) for securities not traded on the financial statement date, amounts that fall within the range of quoted bid and asked prices.
Marketable securities consist of the following:
|December 31, 2008||December 31, 2007|
|Stocks||Number of shares||Estimated current values||Number of shares||Estimated current values|
|Susan Schultz, Inc.||1,000||$122,000|
|Ripley Robotics Corp.||500||$ 51,927||1,000||120,485|
|Jay & Kelly Corp.||300||20,700||200||5,000|
Note 3: The interest income from state and municipal bonds is generally not subject to federal income taxes but is, except in certain cases, subject to state income tax and federal alternative minimum tax.
Note 4: The loan receivable from Carol Parker, Inc. matures January 2015 and bears interest at the prime rate.
Note 5: Partnership and joint venture interests consist of the following:
|Percent owned||Cost||Estimated current value 12/31/2008||Estimated current value 12/31/2007|
|East Third Partnership||50.0%||$ 50,000||100,000||100,000|
|631 Lucinda Joint Venture||20.0||10,000||35,000||38,000|
|27 Wright Partnership||22.5||10,000||40,000||50,000|