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accompanying notes Accounts Accrued Pensions Accumulated depreciation accumulated earnings additional agreement ALFRED EPSTEIN President Allowance for depreciation Amount due annual annum April 15 auditing AUDITORS balance sheet barrels bear interest beer Bottles capital COMPANY A Michigan current assets current liabilities Deductions DETROIT dividends employees ENDED DECEMBER 31 EPSTEIN Vice-President estimated future federal expenses expires federal income tax final maturity financial position fixed assets future federal income HERBERT income and accumulated income tax benefits Income Tax Refund indebtedness Inventories January launched Less Long-Term Debt Loss Lybrand Manager market maturity on September MERLE Michigan Corporation Minnesota Montgomery mortgage notes Notes payable operations options were granted past service costs Paul payable to banks period Pfeiffer Brewing Company plan plant and equipment Prepayments profit property proxy quarterly revenues Ross Bros sales September 30 shareholders shares statement of income STOCK EXCHANGE STOCKHOLDERS subordinate Total current Total liabilities Vice-President and Treasurer YOCKEY Vice-President york