Pages Schedule L.—BALANCE SHEETS. (See Instruction L)
Beginning of Taxable Year End of Taxable Year
ASSETS ‘Amount Total ‘Amount Total
1. Cash... cee cee cece cece cece eee e eee seen eee eeeen teres $...

2. Notes and accounts receivable. .
Less: Reserve for bad debts. .

3. Inventories: (@) Raw materials
(B) Work in process. .

© Finished goods. .

(@) Supplies...........

4, Investments in governmental obligatio:
(a) Obligations of a State, Territory, or political subdi
District of Columbia, or United States possessions
(&) Obligations of the United States:

(1) Obligations issued on or before September 1, 1917; all postal sav-
ings bonds; Treasury notes issued prior to December 1, 1940; and

Treasury bills issued prior to March 1, 1941
@) United States Sayings bonds and Treasury bonds issued pri
arch 1, 94 ee ee eee ee en ee eae
(3) Treasury notes issued on or after December 1, 1940; and all other

in thereof, or the

obligations of the United States issued on or after March 1, 1941 .

(c) Obligations of instrumentalities of the United States:
(1) Obligations of Federal land banks, joint stock land banks, and
federal inteomediste credit banks issued prior to March 1. 1941

re

(2) Obligations issued by other instrumentalities of the United Stat

Baer to March 1, 1941. . .
(3) Obligations of all jastrumenialicies
or after March 1, 1941

5. Other investments (attach schedule) .
6. Capital assets:
@) Depreciable assets (attach schedule) .
Less: Reserve for depreciation.
(6) Depletable assets.
Less: Reserve for depletion.
@) Land.....
7. Other assets (attach schedule)
8. Toran ASSETS... 6.0... ce eeeeeeeeeees
LIABILITIES
9. Accounts payable.......... sete eset cece ees tees
10. Bonds, notes, and mortgages payable:
(2) With original maturity of less than 1 year.
(®) With original maturity of 1 year or more
11. Accrued expenses (attach schedule).
12. Other liabilities (attach schedule). . .
13. Surplus reserves (attach schedule)...................
14, Capital stock: BnggE Uber a3 at of Eee
(a) Preferred stock (.
(6) Common stock ¢.
15. Paid-in or capital surplus...........
16. Earned surplus and undivided profits.
17. Torat LrapiLttiEs

-|$---

$ '$

Schedule M.—RECONCILIATION OF NET INCOME AND ANALYSIS OF EARNED SURPLUS AND UNDIVIDED

PROFITS

1. Total distributions to stockholders
charged to earned surplus during the
taxable year:

(@) Cash.........0. peeeee
(2) Stock of the corporation
(© Other property.
2. Contributions in excess of 5% limitation.
3. Federal income and excess profits taxes

4. Income taxes of foreign countries or
United States possessions ifclaimed as a
credit in whole or in part in item.36,

page 1
5. Federal taxes paid on tax-free covenant
bonds......

6. Special improvement taxes tending to in-
crease the value of the property assessed.

. Capital expenditures charged to expenses
on the books............0eee eee on

x

8. Insurance premiums paid on the life of |
any officer or employee where the cor-
poration is directly or indirectly a
beneficiary

. Unallowable interest incurred to purchase
orcarry tax-exempt interest obligations |_

10. Excess of capital losses over capital gains |_.

11. Additions to surplus reserves (attach

schedule)

12. Other unallowable deductions (attach

schedule)...

13. Adjustments for tax purposes not record-

ed on books (attach schedule)

14, Sundry debits to earned surplus (attach
schedule).

15. Earned surplus and undivided profits at
close of the taxable year (Schedule L).

16, Total of lines 1 to 15

yo

17. Earned surplus and undivided profits at
end of preceding taxable year (Sched-
ule L). ccc eee cece ee eee seeeeee sees

18. Net income before net operating loss
deduction (item 32, page 1)

19. Nontaxable interest on:

(a) Obligations of a State, Territory, or
political subdivision thereof, ortheDis-
trict of Columbia, or U.S. possessions .

(2) Obligations of the United States:
(2) Obligations issued on or before
Sept. 1, 1917; all postal savings
bonds; Treasury notes issued prior
to Dec. 1, 1940; and Treasury bills
issued prior to March 1, 1941....

(2) U.S. savings bonds and Treasury
bonds owned in the principal
amount of $5,000 or less, issued
prior to March 1, 1941

(©) Obligations of Federal Jand banks,
joint stock land banks, and Federal
intermediate credit banks issued prior
to March 1, 1941.

20. Ones nontaxable income (attach sched-
ule).

21. Charges against surplus reserves deducted
from income in the return (attach

22. Adjustments for tax purposes not record-
ed on books (attach schedule). . .

23. Sundry credits to earned surplus (attach
schedule). . .

24. Total of lines 17 to 23........ ceee ee NG.

schedule)......... eee eeeeeeeeeenee | nennnnnennnnnereenee

e2—-16—60860-1 uv. 5. GOVERNMENT 1



SCHEDULE D (Form 1120) 1 953

U. S. Treasury Department
Internal Revenue Service

SCHEDULE OF GAINS AND LOSSES FROM SALES OR EXCHANGES OF PROPERTY

For Calendar Year 1953

_...., 1953, and ending .... .y 1954

or fiscal year beginning

Name and address -..

@! ‘CAPITAL ASSETS”

2, Date at 5, Depreciation Allowed (or | 6. Cost or Other Basis and
3. DateSold 4 Gi 8. Gain or Loss (Column 4
Acquired 4, Gross Sales Price | ailowable) Since Acquisition | Cost of improvements Sub-
1. Description of Property “ue | Contract pricey | or March 1, 1913 cFurnish | sequent to, Aeauiition or 7, Expense of Sale| plus column § less the sum
a

‘Mo, Day YearjMo. Day Year| details)

OSSES—ASSETS HELD FOR NOT MORE THAN 6 MONTHS

SHORT-TERM CAPITAL GAINS Al

‘1 ; $.

2. Unused net capital loss carry-over from five preceding taxable years (attach statement). .

Total of short-term capital gains or losses or difference between short-term capital gains and losses. ..
GAINS AND LOSSES—ASSETS HELD FOR MORE THAN 6 MONTHS

. Total of long-term capital gains or losses or difference between long-term capital gains and losses.

_SUMMARY OF CAPITAL GAINS AND LOSSES

1 Loss To Be Taken Into Account

Classification

7
— — —_—— - | __. | (b) Loss
6. Net short-term capital gain or loss from line 3. -/$. $
7. Net long-term capital gain or loss from line 5.... oS $
8. Net short-term capital gain (line 6, col. (a))_ reduced by an any net + long- term capital

Joss (line 7, col. (b)). Enter hete and as item 13 ( page 1, Form 1120.......|$__ xxxXxxXX XXX
9. Net long-term capital gain (line 7, col. (a)) reduced by any net short-term capital

loss (line 6, col. Cb). Enter here and as item 13 B, page 1, Form 1120..... A$ xxXXxXxXxXxXXXX

Excess of losses over gains in lines 6 and 7. This excess is not allowable..........| xxxxxxxxxx [§ ;

COMPUTATION OF ALTERNATIVE TAX FOR CALENDAR YEAR 1953

11. Surtax net income (line 5, page 3, Form 1120)*. ebb eect eee eee ee

12. Less: Net long-term capital gain reduced by. any net ¢ short-term capital loss Gine 9 of s summary).
13. Surtax net income for purpose of alternative tax beeeee

14, Combined normal tax and surtax. If amount of line 13 i

Not over $25,000; enter 30 percent of line 13 (32 percent if a consolidated return)...............--

Over $25,000. Compute 52 percent of line 8 (54 percent if a consolidated return). Subtract $5: 500.

Enter difference

15. Less: Normal tax adjustment for partially tax-exempt interest; enter 30 percent of the sum of lines @
and (4), column 3, Schedule C-1; Form 1120, but not in excess of 30 percent of line 13.

16. Partial tax..

17. 26 percent of line 12.

18. Alternative tax (line 16 plus line 17)

19. Normal tax and surtax (line 8, page 3, Form 1120).

20. Tax liability (line 18 or 19, whichever is lesscr). Enter here and as line 9, page 3, Form 1120...

_ >) PROPERTY OTHER THAN CAPITAL ASSETS

wn

RRA

6. Cost or Other Basis and

Cost of Improvements Sub-

sequent to Acquisition or
March 1, 1913

2 Date ja 5, Depreciation Allowed (or
| Acquired | Date Sold} 4, Gross Sales Price | allowable) Since Acquisition
Contract price) or March 1, 1913 (Furnish

IMo. Day Year|Mo. Day Year details)

8. Gain or Loss (Column 4
plus column 5 less the sum

7. Expense of Sale
of columns 6 and 7)

1. Description of Property

. Tota! net gain (or loss). Enter here and as item 13 (), page 1, Form 1120

State with respect to each item of property reported in Schedule D (1) and (2): (1) How property was acquired ...
_ ..- (2) whether at time of sale or exchange (#) purchaser owned directly or indirectly more than 50
percent in value of your outstanding stock, (6) where purchaser was a corporation, more than SO percent in value of its capital stock
and 50 percent in value of your capital stock was owned directly or indirectly by or for the same individual or his family, and (¢) where
purchaser was a corporation, whether more than 50 percent in value of its capital stock was owned directly or indirectly by you
..- If so, state name an and address of purchaser

), and (i) are limited to percentages of net income, e based a net income
tal net long-term capital gain over net short-ierm capital loss. See ‘‘Alternative tax’ instructions on reverse.



INSTRUCTIONS

(Roterences are to the Internal Revenue Code)

Instructions For Insurance Companies Using This Schedule

Companies taxable under section 204 and having losses from capital assets sold
or exchanged in order to obtain funds to meet abnormal insurance losses, etc.,
shall attach a schedule corresponding to Schedule E, Form 1120M.

For companies taxable under section 204 or section 207 (a) (1) or (3), “net
capital loss” means the amount by which the losses for the taxable year from sales
or exchanges of capital assets exceed the sum of the gains from such sales or
exchanges and the lesser of (1) the corporation surtax net income (computed
without regard to gains or losses from sales or exchanges of capital assets) or

Gains and losses from sales or exchanges of capital assets and other prop-
erty.—Report sales or exchanges of capital assets and sales or exchanges of
property other than capital assets in Schedule D on other side, Every sale or
exchange of property, even though no gain or loss may be indicated, must be
reported in detail,

Losses from sales or exchanges of capital assets shall be allowed only to the
extent of gains from such sales or exchanges. However, the amount of a net
capital loss sustained in any taxable year may be carried over to each of the five
succeeding taxable years and treated in each such succeeding taxable year as a
short-term capital loss to the extent not allowed as a deduction against any net
capital gains of any taxable year intervening between the taxable year in which
the net capital loss was sustained and the taxable year to which carried.

Definition of capital assets—The term “capital assets” means property held
by the taxpayer (whether or not connected with his trade or business), but does
not include (2) stock in trade of the taxpayer or other property of a kind which
would properly be included in the inventory of the taxpayer if on hand at the
close of the taxable year, or property held by the taxpayer primarily for sale to
customers in the ordinary course of his trade or business, or (4) property used in
the trade or business, of a character which is subject to the allowance for depre-
ciation provided in section 23 (1), or real property used in the trade or business
of the taxpayer; or (¢) a copyright; a literary, musical, or artistic composition,
or similar property; or (d) an obligation of the United States or any of its pos-
sessions, of of a State or Territory, or any political subdivision thereof, or of the
District of Columbia, issued on or after March 1, 1941, on a discount basis and
payable without interest at a fixed maturity date not exceeding 1 year from the
date of issue.

Classification of capital gains and losses—The phrase “short-term” applies to
the category of gains and losses arising from the sale or exchange of capital assets
held for 6 months or less, and the phrase “long-term” to the category of gains and
losses arising from the sale or exchange of capital assets held for more than 6
months.

Enter full description of each item of property sold or exchanged, even though
no gain or loss may be indicated. Such description should include the following
facts: (a) For real estate, location and description of land, description of improve-
ments, details explaining depreciation; (6) for bonds or other evidences of
indebtedness, name of issuing corporation, description of the particular issue,
denomination, and amount; (c) for stocks, name of issuing corporation, class of
stock, number of shares, and capital changes affecting basis (nontaxable stock
dividends, other nontaxable distributions, stock rights, etc.).

The “basis” for the property is not subject to the same rule for reporting gains
as for losses, if the property was acquired before March 1, 1913. If the property
sold or exchanged was acquired prior to March 1, 1913, the basis of determining
GAIN is the cost or the fair market value as of March 1, 1913, adjusted as pro-
vided in section 113 (b), whichever is greater, but in determining LOSS the basis
is cost so adjusted. If property was acquired after February 28, 1913, basis for
both gain and loss is the cost of such property, except as otherwise provided by
section 113. The exceptions arise chiefly where property was acquired by gift,
bequest, tax-free exchange, involuntary conversion, or wash sale of stock; and in
such cases section 113 provides the basis that shall be used. If the amount shown
as the basis is other than actual cash cost of the property sold or exchanged, full
details must be furnished regarding the acquisition of the property.

Enter in column 5 of separate Schedule D the amount of depreciation, cxhaus-
tion, wear and tear, obsolescence, and depletion in respect of the property. This
amount shall be the sum of the following:

(a) The amount of depreciation, exhaustion, wear and tear, obsolescence, and
depletion which has been allowed (but not Jess than the amount allowable) in
respect of such property since date of acquisition, or since February 28, 1913, if
the property was acauired before that date. For any period after December 31,
1951, the amount of depreciation, etc., allowed (and which is in excess of the
amount allowable) shall be disregarded to the extent that such excess does not
result in a reduction for any taxable year of the taxpayer's income or excess profits
taxes. In respect of any period after February 28, 1913, and before January 1,
1952, the taxpayer may disregard depreciation, etc., which was in excess of the
amount allowable and which did not result in reduction of income or excess profits
taxes only if an election is made in accordance with regulations. See section
113 (b) (1) (B); and

(4) The amount of depreciation, exhaustion, wear and tear, obsolescence, and
depletion actually sustained prior to March 1, 1913, if the property was acquired
betore that date,

Subsequent improvements include expenditures for additions, improvements,
renewals, and replacements made to restore the property or prolong its useful
life. Do not deduct ordinary repairs, interest, or taxes in computing gain or loss.

Losses on securities becoming worthless.—If any securities (as defined below)
become worthless within the taxable year and are capital assets, the loss resulting
therefrom shall, in the case of a taxpayer other than a bank, as defined in section
104, be considered as a loss from the sale or exchange, on the last day of such
taxable year, of capital assets. (See section 23 (k) (2)-)

Definition of securities —As used for the purpose of determining capital losses
under section 23 (k), the term “securities” means bonds, debentures, notes, or
certificates, or other evidences of indebtedness, issued by any corporation (in-
cluding those issued by a government or political subdivision thereof), with
interest coupons ot in registered form. However, securities issued by any cor-
poration affiliated with the taxpayer shall not be deemed capital assets. (See
section 23 (k) (3) and (5).)

Losses on stocks or stock rights becoming worthless.—If any shares of stock in
a corporation (except stock in a corporation affiliated with the taxpayer), or
rights to subscribe for or to receive such shares, become worthless during the tax-
able year and are capital assets, the loss resulting therefrom shall be considered
as a loss from the sale or exchange, on the last day of such taxable year, of capital
assets, (See section 23 (g) (2) and (4).)

Losses not allowable —No loss shall be recognized in any sale or other disposi-
tion of shares of stock or securities where there has been acquired substantially
identical stock or securities or there has been entered into a contract or option to
acquire substantially identical stock or securities within 30 days before or after
the date of such sale or disposition, except in cases of dealers in stocks and securi-
ties and with respect to transactions made in the ordinary course of such business.

No deduction shall be allowed in respect of losses from sales or exchanges of
property, directly or indirectly (except in the case of distributions in liquidation),
between an individual and a corporation in which such individual owns, directly

2 losses from the sale or exchange of capital assets sold or exchanged to obtain
unds to meet abnormal insurance losses and to provide for the payment of divi-
dends and similar distributions to policyholders.

For companies taxable under section 207 (a) (1) ‘or (3), all references to
“item” or “line” numbers, Form 1120, shall be considered as references to the
appropriate “item” or “line” in Form 1120M. It will be necessary for such co!
panies to substitute for lines 14, 15, and 16 on other side a computation conform:
ing to that on pages 2 and 3 of Form 1120M.

instructions

or indirectly, more than 50 percent in value of the outstanding stock; or (except
in the case of distributions in liquidation) between two corporations more than
50 percent in value of the outstanding stock of each of which is owned, directly
or indirectly, by or for the same individual, if either one of such corporations, with
respect to the taxable year of the corporation preceding the date of the sale or
exchange was, under the laws applicable to such taxable year, (1) a personal
holding company, as defined in section 501, or (2) a foreign personal holding
company, as defined in section 331. (See paragraph (1) (B) and (C) of section
24 (b).) (For the purpose of determining the ownership of stock, in applying
this paragraph, see section 24 (b) (2).)

Gain on sales by a “controlled” corporation—If (1) property is sold or ex-
changed after May 3, 1951, by a corporation to one or more of its shareholders,
and (2) the property in the hands of such shareholders is depreciable property,
and (3) such sharcholders, their spouses, and their minor children and minor
grandchildren own more than 80 percent in value of the outstanding stock of the
corporation, then any gain on such sale or exchange shall not be treated as gain
from the sale or exchange of property which is a capital asset or of property
which is described in section 117 (j).

Gains and losses from involuntary conversion and from the sale or exchange
of certain property used in the trade or business—The term “property used in
the trade or business” as used in section 117 (j) means property used in the trade
or business, of a character which is subject to the allowance for depreciation pro-
vided in section 23 (1), held for more than 6 months, and real property used in
the trade or business, held for more than 6 months, which is not (a) property of
a kind which would properly be includible in the inventory of the taxpayer if on
hand at the close of the taxable year or (4) property held by the taxpayer pri-
marily for sale to customers in the ordinary course of his trade or business. Such
term also includes timber or coal with respect to which section 117 (k) (1) or
(2) is applicable as well as unharvested crops sold with the land to which section
117 (j) (3) applies. Such term also includes livestock (but not poultry) held
for draft, breeding, or dairy purposes and held for 12 months or more from the
date of acquisition.

Section 117 (j) provides special treatment for the gains and losses upon the
sale or exchange of depreciable property and of land held for more than G
months, and for the gains and losses upon the compulsory or involuntary conver-
sion of such depreciable property and land and of capital assets held for more
than 6 months,

The method prescribed in section 117 (j) (2) is to treat such gains and losses
during the taxable year as gains and losses from the sale or exchange of capital
assets held for more than 6 months, if the aggregate of such gains exceeds the
aggregate of such losses. If, however, the aggregate of such gains does not
exceed the aggregate of such losses, such gains and losses shall nat be treated as
gains and losses from the sale or exchange of capital assets held for more than
6 months.

In determining whether gains do or do not exceed losses, it is necessary to
include the gains and losses to the extent that they would be included if they were
all ordinary gains and losses. The limitations of section 117 (d) on the deducti-
bility of capital losses do not operate to exclude any such losses from the com-
Putation as to the excess of gains over losses, but all such losses are included
in ful

For special treatment of gain or loss upon the cutting of timber, or upon the
disposal of timber or coal under a contract by which the owner retains an eco-
nomic interest in such timber or coal, see section 117 (k).

Aliernative tax.—If for any taxable year the net long-term capital gain exceeds
the net short-term capital loss or in case of only @ net long-term capital gain,
section 117 (c) (1) imposes an alternative tax in lieu of the normal tax and
surtax imposed upon net income, if any, only if such tax is less than the tax imposed
by sections 13 and 15 (relating to normal tax and surtax on corporations), sections
204 and 207 (a) (1) or (3) (relating to normal tax and surtax on insurance
companies, other than life insurance companies), section 421 (relating to taxa-
tion of business income of certain section 101 organizations), and section 500
(relating to surtax on personal holding companies). The alternative tax is the
sum of (1) a partial tax, computed at the normal tax and surtax rates on the net
income decreased by the amount of the excess of the net long-term capital gain
over the net short-term capital loss, and (2) 26 percent of such excess.

In computing the alternative tax under section 117 (c) (1) in cases where the
credits allowable under the provisions of subsections (b), (h), and (i) of section
26 are limited to or are percentages of net income, lines 11 and 12 on other side
should be disregarded. In lieu of these lines, a computation should be made first
reducing net income by the amount of the total net long-term capital gain or
excess of net long-term capital gain over net short-term capital loss and then
redetermining such section 26 credits on the basis of the resulting reduced net
income to derive the amount of the surtax net income for purposes of alternative
tax to be inserted on line 13 on other side,

Bonds, etc., losses of banks—In the case of a bank, as defined in section 104,
if the losses of the taxable year from sales or exchanges of bonds, debentures,
notes, or certificates, or other evidence of indebtedness, issued by any corporation
(including one issued by a government or political subdivision thereof) with
interest coupons or in registered form, exceed the gains from such sales or ex-
changes, such excess shall be considered as an ordinary loss and deductible in full
against other income.

Dealers in securities. Capital gains and ordinary losses.—Under the provisions
of section 117 (n), gain by a dealer in securities from the sale or exchange of a
security, as defined in section 117 (n) (3), shall in no event be considered as
gain from the sale or exchange of a capital asset unless (a) the security is, prior to
the expiration of the thirtieth day after its acquisition or of the thirtieth day after
October 20, 1951, whichever is later, clearly identified in the dealer's records as a
security held for investment; and (b) the security is not, at any time after the
expiration of such thirtieth day, held by the dealer primarily for sale to customers
in the ordinary course of trade or business. A loss from the sale or exchange of a
security shall, if section 117 (i) is not applicable, be considered a capital loss if
at any time after November 19, 1951, the security was clearly identified in the
dealer's record as a security held for investment.

Short sales of capital assets.—For specific rules relating to the tax consequences
of certain short sales of stock or other securities, transactions in stock or securities
on a “when issued” basis and transactions in commodity futures, see section

117 (g) and (1) and the regulations issued thereunder.



Schedule J.—OTHER DEDUCTIONS. (See Instruction 30)”

NOTE: If taking expense deductions for development and exploration of mines, and oil and gas wells, show separate!
of oil and gas wells; (2) development expense of mines; and (3) exploration expense subject to limitation.

Jy: C1) intangible drilling and development costs
Show separarely deductions, if any, computed on ratable basis.

Schedule K.—COMPUTATION TO DETERMINE NECESSITY FOR FILING EXCESS PROFITS TAX SCHEDULE

Line No.
1. Net income before net operating loss deduction (item 32, page 1).............. SS
Taxpayers which have elected under section 455 to accrue income from installment sales or long-term contracts, enter income so adjusted)
2. Deductions for interest (item 21, page 1) (banks should exclude interest on deposits)
3. Deductions on account of retirement or discharge of bonds, etc... 0.6.0... c eee ence eee eee ee eeee
4, Deductions attributable to a grant or loan by a governmental agency to encourage mining of certain minerals

5. Deductions attributable to technical services rendered to related foreign corporations........
6. In the case of banks, the excess of the deduction for bad debts under the reserve method over debts which

actually became worthless during the year

7. Federal income and excess profits taxes paid by lessee under long-term lease. .

8. Total of lines 1 to 7, inclusive.

If line 8 is $25,000 or less, Schedule EP (Form 1120) need not be filed with this return. If line 8 is over
$25,000, Schedule EP (Form 1120) must be filed. Schedule EP may be obtained from your District Director.

TAX COMPUTATION FOR CALENDAR YEAR 1953.

For other taxable years attach Form 1120FY¥

(See Tax Computation Instructions)

Line No. . |
1. Net income (item 34, page 1).......
2. Less: Dividends received credit:
(a) Enter 85 percent of column 2, Schedule C...... $..
(6) Enter 62 percent of column 3, Schedule C
(© Enter 85 percent of dividends received from
certain foreign corporations =
Total dividends received-credit. Enter sum of (@), (2), and (c), above, but
not to exceed 85 percent of the excess of item 32, page 1, over the sum
of lines (a) and (6) in column 3 of Schedule C-1...........-.. 200005
3. Credit for dividends paid on certain preferred stock if taxpayer is a publicutility .
4, Credit for Western Hemisphere trade corporations. __

5. Surtax net income

6. Combined normal tax and surtax. If amount of line 5 is:

Over $25,000. Compute 52 percent of line 5 (54 percent if a consolidated return). Subtract $5,500.
Enter difference... 0. eee ee een een ete eee nen eee rene nee n nner eee ee
Less: Normal tax adjustment for partially tax-exempt interest; enter 30 percent of the sum of lines (a)

and (4) in column 3 of Schedule C-1, but not in excess of 30 percent of line 5

Not over $25,000; enter 30 percent of line 5 (32 percent if a consolidated return).................-. |

8. Normal tax and surtax .

9. Total tax (line 8, or line 20 of separate Schedule D). Enter here and as item 35, page 1........... 0

QUESTIONS

1. If this is the corporation's first return, indicate whether (@)
completely new business [], or (4) successor to previously
existing business, which was organized as (1) corporation [7],
(2) partnership L], or (3) sole proprietorship [1], or (4) other
Cindicatc) ........._ If successor to previously existing business,
give name and address of the previous business organization

(if either answer is ‘‘yes,’’ attach separate schedule
1g: (1) Name and address; (2) percentage of stock owned;
(3) date stock was acquired; and (4) the District Director's office
in which the income tax return of such corporation, individual,
papeship, trust, or association for the last taxable year was
filed.

9. Check whether this return was prepared on the cash basis 1]
~ or accrual basis C].
2. District Director's office where the corporation's return for the 10 Check basis of valuing or method of inventorying material or
di filed merchandise at the beginning and end of the taxable year—(a)
Preceding yeat was lle cost [); (4) cost or market, whichever is lower [1]; (c) elective
3. Enter amount of income (or deficit) from item 32, page 1, Form method provided in section 22 (d) [; @) other basis or method
1120 for 1952 . oO. If other basis or method is used, explain fully in separate
4. statement, giving date inventory was last reconciled with stock
(see Specific Instructions 2).
Located at _ ; 11. Did the corporation make a return of information on Forms
. ion is af. ; ke 7 farmers’ 1096 and 1099 or Form W-2a for the calendar year 1953? (See
5. Check if the corporation is a farmers’ marketing or a farmers General Instruction G-(1)) _
purchasing cooperative association [], a consumers’ cooperative ,, ° : :
association [], or other cooperative association []. 12. Has any transaction described in General Instruction G-(3) oc-
a . sae curred on or after October 8, 1940? (Answer ‘‘yes”’ or ‘no’
6. Is the corporation a personal holding company within the
meaning of section 501 of the Internal Revenue Code? .... - = : . . .
Cif so, an additional return on Form 1120 H must be filed.) 13. Has any transaction described in General Instruction G-(4)
> : > rae
7. Is this a consolidated return? _........... Cf so, procure from ono, on of after January 1, 1951? (Answer “yes” or
the District Director of Internal Revenue for your district Form i rl .
851, Affiliations Schedule, which shall be filled in and filed as a 14- Did the corporation, during the taxable year, have any con-
part of this return; each subsidiary should procure Form 1122 tracts or subcontracts subject to the Renegotiation Act of 1951?
and file in accordance with Instruction I.) (Answer “yes” or “‘no’’) .. If answer is** yes,”’ state
8. If this is not a consolidated return: (a) Did the corporation at the approximate aggregate gross dollar amount billed during
any time during the taxable year own 50 percent or more of the taxable year under all such contracts and/or subcontracts.
the voting stock of another corporation either domestic or $... we-eeee (See General Instruction G-5.)
foreign? _.; (2) did any corporation, individual, partner- 15. Did the corporation at any time during the taxable year own

ship, trust, or association at any time during the taxable year
own 50 percent or more of the corporation’s voting stock?

directly of indirectly any stock of a foreign corporation? _..

Cif so, attach statement as required by General Instruction K.)

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