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					                                      Crystal Supply Co.
                                      Balance Sheets
                                        December 31

          Assets (Dr. Balances)             1997               1996           1995         1994
Cash and cash equivalents                $      55,036     $       47,708 $      65,212 $     61,061
Accounts Receivable                         1,140,832           1,208,268     1,042,367    1,144,519
Due from partnership                                                    -                     66,652
Inventory                                   1,324,269           1,190,307      1,277,621   1,108,644
Prepaid expenses                                                        -                        420
Total current assets                     $ 2,520,137       $    2,446,283 $    2,385,200 $ 2,381,296
Property and equipment, net                     79,157             62,606         63,923      38,765
Other Receivables                               25,071             25,071         25,071      25,071
Total assets                             $ 2,624,365      $    2,533,960 $    2,474,194 $ 2,445,132
  Liabilities and stockholders' equity
Line of credit                           $     200,000     $      100,000 $             - $           -
Current portion of long-term debt              331,000            363,000        365,000       365,000
Accounts Payable                               564,307            422,691        734,876       668,547
Accrued payroll and taxes                       39,781            338,757        132,441       217,826
Accrued expenses                                      -             9,794          2,921        16,803
   CURRENT LIABILITIES                   $ 1,135,088      $    1,234,242 $    1,235,238 $ 1,268,176
Long-term debt                                522,900            368,900        374,900       374,900
Total debt                                 1,657,988           1,603,142      1,610,138     1,643,076
Deferred taxes
Shareholders Equity:
Common stock                                   50,000             50,000         50,000        50,000
Additional paid in capital                     60,000             60,000         60,000        60,000
Retained earnings                             856,377            820,818        754,056       692,056
Total shareholders investment                 966,377            930,818        864,056       802,056
                                           2,624,365
Total liabilities and shareholders investment                  2,533,960      2,474,194     2,445,132
                                           1997           1996            1995            1994
ANALYSIS:
Current Ratio                              2.22           1.98            1.93            1.88
Quick Ratio                                1.05           1.02            0.90            0.95
Total Liabilities to Total Equities        0.63           0.63            0.65            0.67
Return on Average Equity                   3.7%           8.0%            7.4%


Net Working Capital                       $1,385,049    $1,212,041      $1,149,962      $1,113,120

Net Operating Assets                  $   2,020,277 $     1,762,718 $     1,603,956 $     1,541,956
Financial Obligations                     1,053,900         831,900         739,900         739,900
Financial Assets                                   0               0               0               0
Net Financial Obligations                 1,053,900         831,900         739,900         739,900
Owners Equity                               966,377         930,818         864,056         802,056
Net Operating Assets                      2,020,277       1,762,718       1,603,956       1,541,956


NOPAT                                 $      38,485 $        89,902 $        90,761 $      131,096
RNOA                                          2.03%           5.34%           5.77%
Net Operating Working Capital              1,916,049       1,675,041       1,514,962       1,478,120
Net Long-term operating capital             104,228          87,677          88,994          63,836
Net Operating Assets                      2,020,277       1,762,718       1,603,956       1,541,956
                                            Crystal Supply Co.
                               Statement of Income and Retained Earning.
                                    For the Years ending December 31

         Revenues and Expenses                   1997                       1996                       1995                       1994         1994
Net Sales                                   $   11,468,820    100.0%   $   11,656,777    100.0%   $   10,757,866    100.0%   $   11,694,902    100.0%
Cost of sales                               $    8,011,728    69.9%    $    8,074,495    69.3%    $    7,373,582    68.5%    $    8,329,248    71.2%
Gross Profit                                $    3,457,092    30.1%    $    3,582,282    30.7%    $    3,384,284    31.5%    $    3,365,654    28.8%
Selling, general and administrative expense      3,407,119    29.7%         3,441,997    29.5%         3,249,173    30.2%         3,166,778    27.1%
Operating Income                                    49,973     0.4%           140,285    1.2%            135,111    1.3%            198,876    1.7%
Interest revenues                                    1,106     0.0%             3,624    0.0%                872    0.0%              6,482    0.1%
Commissions income                                  65,322     0.6%            29,035    0.2%             26,111    0.2%                  -    0.0%
Interest expense                                   (70,228)   -0.6%           (62,559)   -0.5%           (69,798)   -0.6%           (58,025)   -0.5%
Gain (loss) on disposal of assets                        -     0.0%             1,750    0.0%                  -    0.0%            (49,750)   -0.4%
  Total other income                        $       (3,800)    0.0%    $      (28,150)   -0.2%    $      (42,815)   -0.4%    $     (101,293)   -0.9%
Income before taxes                         $       46,173     0.4%    $      112,135    1.0%     $       92,296    0.9%     $       97,583    0.8%
Income taxes                                        10,614     0.1%            40,273    0.3%             30,296    0.3%             33,258    0.3%
Net Income                                  $       35,559     0.3%    $       71,862    0.6%     $       62,000    0.6%     $       64,325    0.6%
Beginning Retained earnings                        820,818                    754,056                    692,056                    627,731
Dividends                                                -                     (5,100)                         -                          -
Ending retained earnings                           856,377                    820,818                    754,056                    692,056

Tax Rates                                       23.0%                      35.9%                      32.8%                      34.1%
Earnings before interest and taxes (EBIT)           49,973                   140,285                    135,111                    198,876
Net operating profit after taxes (NOPAT)            38,485                     89,902                     90,761                   131,096

Related Party Transactions with Owners          $1,345,000                 $1,163,000                   $961,000                   $902,000
Reasonable Compensation                            340,000                    329,800                    319,906                    310,309
Payment to Owners                               $1,005,000                   $833,200                   $641,094                   $591,691

Reasonable Compensation
 President                                        $140,000                  $135,800                   $131,726                   $127,774
 CFO                                               100,000                    97,000                     94,090                     91,267
 COO                                               100,000                    97,000                     94,090                     91,267
 Total                                            $340,000                  $329,800                   $319,906                   $310,309
                                                      Crystal Supply Co.
                                                  Statement of Cash Flows
                                              For the years ending December 31
                                                             1997         1996      1995        1994
                  (a)
Net income (loss)                                        $     35,559 $ 71,862 $ 62,000       $ 64,325
Adjustments for noncash and nonoperating items:
     Depreciation and amortization                             40,108     33,689    36,224         20,797
     (Gain) Loss on sale of assets                                   -     (1,750)       -         49,750
Changes in operating assets and liabilities, net of
     Receivables                                               67,436 (165,901) 102,152           (191,145)
     Inventories                                             (133,962)    87,314 (168,977)        (124,733)
     Prepaid expenses                                                -          -      420           4,151
     Accounts payable and other liabilities                   141,616 (312,185)     66,329          58,360
     Accrued payroll and taxes                               (298,976) 206,316     (85,385)        128,826
     Accred expenses                                           (9,794)      6,873  (13,882)         16,803
Cash provided by operations                              $ (158,013) $(73,782) $ (1,119)      $    27,134
INVESTING ACTIVITIES
Collections from partnership                                         -          -   66,652      137,760
Proceeds from sale of assets                                         -      1,750        -            -
Purchase of property and equipment                            (56,659)   (32,372)  (61,382)     (21,145)
Cash provided (used) by investing activities             $    (56,659) $(30,622) $ 5,270      $ 116,615
FINANCING ACTIVITIES
Line of credit                                                100,000    100,000         -      (200,000)
Stockholders loan proceeds                                    130,000           -        -             -
Repayment of notes payable                                     (8,000)     (8,000)       -             -
Dividends paid                                                       -     (5,100)       -             -
Cash (used) provided by financing activities             $    222,000 $ 86,900 $         -    $ (200,000)
INCREASE (DECREASE) IN CASH AND
EQUIVALENTS                                              $      7,328 $(17,504) $ 4,151       $ (56,251)
CASH AND EQUIVALENTS AT BEGINNING OF                           47,708     65,212    61,061      117,312
CASH AND EQUIVALENTS AT END OF PERIOD                    $     55,036 $ 47,708 $ 65,212       $ 61,061
                                               Crystal Supply
                                              Easton Analysis

ANALYSIS for Year Ending                            1997             1996             1995
RETURN ON EQUITY
  Tax Rates                                         23.0%           35.9%            32.8%
  Revenues                                     $   11,468,820    $ 11,656,777    $   10,757,866
  Expenses (not interest)                          11,418,847      11,516,492        10,622,755
  Earnings before interest and taxes (EBIT)    $       49,973    $    140,285    $      135,111
  Taxes                                                 11,488          50,383            44,350
  Net Operating Profits After Taxes (NOPAT)    $       38,485    $     89,902    $       90,761
  Average Net Operating Assets                      $1,891,498      $1,683,337        $1,572,956
Return on Net Operating Assets (RNOA)                   2.03%           5.34%             5.77%
Return on Non-Operating Activities                      1.71%           2.67%             1.67%
  Average Equity                                      $948,598       $897,437           $833,056
Return on Average Equity (ROE)                          3.75%           8.01%             7.44%
  Net Financial Expense (NFE)                  $        2,926    $     18,040    $       28,761
  Average Net Financial Obligations (NFO)             $942,900       $785,900           $739,900
  Net Financial Rate (NFR=NFE/NFO)                      0.31%           2.30%             3.89%
  Spread (RNOA - NFR)                                   1.72%           3.05%             1.88%
  Financial Leverage (FLEV=NFO/Equity)                 99.40%          87.57%            88.82%
FLEV * Spread                                           1.71%           2.67%             1.67%
RNOA + FLEV*Spread                                      3.75%           8.01%             7.44%
MARGIN AND TURNOVER
Net Operating Profit Margin (NOPM)                     0.34%            0.77%            0.84%
  Average Assets                                   $2,579,163       $2,504,077       $2,459,663
Asset Turnover (S/A)                                     4.45             4.66             4.37
  Average Accounts Receivable                      $1,174,550       $1,125,318       $1,093,443
Accounts Receivable Turnover (ART=S/INV)                 9.76            10.36             9.84
  Average Inventory                                $1,257,288       $1,233,964       $1,193,133
Inventory Turnover (CGS/INV)                             6.37            6.54             6.18
  Average Long-Term Operating Assets                  $95,953          $88,336          $76,415
Long-term Asset Turnover (S/LTA)                       119.53           131.96           140.78
  Average Accounts Payable                          $493,499         $578,784          $701,712
Accounts Payable turnover (CGS/AP)                      16.23           13.95            10.51
  Average Net Operating Working Capital            $1,795,545       $1,595,002       $1,496,541
Net Operating Working Capital Turnover                   6.39             7.31             7.19

LIQUIDITY, SOLVENCY, AND CREDIT
Average Collection Period (365/ART)                  37.4            35.2              37.1
+Modified Inventory Days                              9.1             9.4               9.0
-Modified Payable Days                              -15.7            -18.1            -23.8
Cash Cycle in Days                                   30.8            26.6              22.3
Current Ratio                                        2.22            1.98              1.93
Quick Ratio                                         1.05             1.02             0.90
Debt-to-Equity                                     1.091            0.894            0.856
Long-term Debt to Equity                           0.541            0.396            0.434
Times Interest Earned                                1.66            2.76              2.32
Operating Cash Flow to Liabilities                 (0.10)           (0.05)           (0.00)

Backruptcy Prediction (Altman Z score)
 Working Capital/Total Assets *.717                0.378            0.343            0.333
 Retained Earnings/Total Assets * .847             0.276            0.274            0.258
 EBIT/Total Assets*3.107                           0.059            0.172            0.170
 Shareholders Equity/Total Libailities*.420        0.245            0.244            0.225
 Sales/Total Assets*.998                           4.438            4.646            4.365
Total Altman Z Score                               5.397            5.679            5.351
                                     Crystal Supply Co.
                        Statement of Income and Retained Earning.
                             For the Years ending December 31
     Revenues and Expenses               1997                        1996                       1995                       1994         1994
Net Sales                            $ 11,468,820      100.0%   $   11,656,777    100.0%   $   10,757,866    100.0%   $   11,694,902    100.0%
Cost of sales                            8,011,728     69.9%         8,074,495    69.3%         7,373,582    68.5%         8,329,248    71.2%
Gross Profit                         $   3,457,092     30.1%    $    3,582,282    30.7%    $    3,384,284    31.5%    $    3,365,654    28.8%
                                         2,402,119
Selling, general and administrative expense            20.9%         2,608,797    22.4%         2,608,079    24.2%         2,575,087    22.0%
Operating Income                         1,054,973      9.2%           973,485    8.4%            776,205    7.2%            790,567    6.8%
Interest revenues                             1,106     0.0%             3,624    0.0%                872    0.0%              6,482    0.1%
Commissions income                           65,322     0.6%            29,035    0.2%             26,111    0.2%                  -    0.0%
Interest expense                            (70,228)   -0.6%           (62,559)   -0.5%           (69,798)   -0.6%           (58,025)   -0.5%
Gain (loss) on disposal of assets                 -     0.0%                 -    0.0%                  -    0.0%                  -    0.0%
  Total other income                 $       (3,800)    0.0%    $      (29,900)   -0.3%    $      (42,815)   -0.4%    $      (51,543)   -0.4%
Income before taxes                  $   1,051,173      9.2%    $      943,585    8.1%     $      733,390    6.8%     $      739,024    6.3%
Est. Income taxes of Owners                357,399      3.1%           320,819    2.8%            249,353    2.3%            251,268    2.1%
Net Income                           $     693,774      6.0%    $      622,766    5.3%     $      484,037    4.5%     $      487,756    4.2%
Beginning Retained earnings                820,818                     754,056                    692,056                    627,731
Payments to Owners (Net of Tax)           (658,215)                   (550,904)                  (422,037)                  (423,431)
Dividends                                         -                     (5,100)                         -                          -
Ending retained earnings                   856,377                     820,818                    754,056                    692,056

Tax Rates                               34.0%                       34.0%                      34.0%                      34.0%
Earnings before interest and taxes (EBIT)1,054,973                    973,485                    776,205                    790,567
Net operating profit after taxes (NOPAT) 696,282                      642,500                    512,295                    521,774

Related Party Transactions               $1,345,000                 $1,163,000                   $961,000                   $902,000
Compensation                                340,000                    329,800                    319,906                    310,309
Payment to Owners                        $1,005,000                   $833,200                   $641,094                   $591,691

Reasonable Compensation
 President                                 $140,000                  $135,800                   $131,726                   $127,774
 CFO                                        100,000                    97,000                     94,090                     91,267
 COO                                        100,000                    97,000                     94,090                     91,267
 Total                                     $340,000                  $329,800                   $319,906                   $310,309
                                                      Crystal Supply Co.
                                                  Statement of Cash Flows
                                              For the years ending December 31
                                                             1997         1996         1995              1994
                   (a)
Net income (loss)                                       $     693,774 $    622,766 $ 484,037           $ 487,756
Adjustments for noncash and nonoperating items:
      Depreciation and amortization                            40,108       33,689       36,224             20,797
      Interest Expenses (Net)****Adjusted                      69,122       58,935       68,926             51,543
Changes in operating assets and liabilities, net of
      Receivables                                              67,436     (165,901)    102,152             (191,145)
      Inventories                                            (133,962)      87,314    (168,977)            (124,733)
      Prepaid expenses                                               -            -         420               4,151
      Accounts payable and other liabilities                  141,616     (312,185)      66,329              58,360
      Accrued payroll and taxes                              (298,976)     206,316      (85,385)            128,826
      Accred expenses                                          (9,794)        6,873     (13,882)             16,803
Cash provided by operations                              $    569,324 $ 537,807 $ 489,844              $ 452,358
INVESTING ACTIVITIES
Collections from partnership                                         -            -      66,652          137,760
Proceeds from sale of assets                                         -        1,750           -                -
Purchase of property and equipment                            (56,659)     (32,372)     (61,382)         (21,145)
Cash provided (used) by investing activities             $    (56,659) $   (30,622) $     5,270        $ 116,615
FINANCING ACTIVITIES
Line of credit                                                100,000      100,000            -          (200,000)
Stockholders loan proceeds                                    130,000             -           -                 -
Repayment of notes payable                                     (8,000)       (8,000)          -                 -
Interest Expenses                                             (69,122)     (58,935)     (68,926)          (51,543)
Payments to Owners                                           (663,300)    (549,912)   (423,122)          (390,516)
Dividends paid                                                       -       (5,100)          -                 -
Cash (used) provided by financing activities             $ (510,422) $ (521,947) $ (492,048)           $ (642,059)
INCREASE (DECREASE) IN CASH AND
EQUIVALENTS                                              $      2,243 $    (14,762) $     3,066        $ (73,086)
CASH AND EQUIVALENTS AT BEGINNING OF                           32,530       47,292       44,226          117,312
CASH AND EQUIVALENTS AT END OF PERIOD                    $     34,773 $     32,530 $     47,292        $ 44,226

Related Party Transactions                               $1,345,000       $1,163,000       $961,000        $902,000
Compensation                                                340,000          329,800         319,906         310,309
Payment to Owners                                        $1,005,000         $833,200       $641,094        $591,691
Taxes paid for owners                                     (341,700)        (283,288)       (217,972)       (201,175)
Net Payments to owners                                     $663,300         $549,912       $423,122        $390,516

Cash flow from operations                            $     569,324    $     537,807    $   489,844     $   452,358
Change in net operating assets                             257,559          158,762         62,000
Free Cash Flows                                      $     311,765    $     379,045    $   427,844
                                      Crystal Supply Co.
                                      Balance Sheets
                                        December 31

          Assets (Dr. Balances)          1998 Projected      1997           1996           1995         1994
Cash and cash equivalents                 $      137,155 $      55,036 $        47,708 $      65,212 $     61,061
Accounts Receivable                            1,104,338     1,140,832       1,208,268     1,042,367    1,144,519
Due from partnership                                                                 -                     66,652
Inventory                                      1,292,788     1,324,269       1,190,307      1,277,621   1,108,644
Prepaid expenses                                                                     -                        420
Total current assets                      $    2,534,281 $    2,520,137 $    2,446,283 $    2,385,200 $ 2,381,296
Property and equipment, net                       79,157         79,157         62,606         63,923      38,765
Other Receivables                                 25,071         25,071         25,071         25,071      25,071
Total assets                             $    2,638,509 $    2,624,365 $    2,533,960 $    2,474,194 $ 2,445,132
  Liabilities and stockholders' equity
Line of credit                            $      200,000 $      200,000 $      100,000 $             - $           -
Current portion of long-term debt                331,000        331,000        363,000        365,000       365,000
Accounts Payable                                 550,892        564,307        422,691        734,876       668,547
Accrued payroll and taxes                         39,781         39,781        338,757        132,441       217,826
Accrued expenses                                        -              -         9,794          2,921        16,803
   CURRENT LIABILITIES                   $    1,121,673 $    1,135,088 $    1,234,242 $    1,235,238 $ 1,268,176
Long-term debt                                  514,900        522,900        368,900        374,900       374,900
Total debt                                    1,636,573      1,657,988      1,603,142      1,610,138     1,643,076
Deferred taxes
Shareholders Equity:
Common stock                                      50,000        50,000         50,000         50,000        50,000
Additional paid in capital                        60,000        60,000         60,000         60,000        60,000
Retained earnings                               891,936        856,377        820,818        754,056       692,056
Total shareholders investment                 1,001,936        966,377        930,818        864,056       802,056
Total liabilities and shareholders investment 2,638,509      2,624,365      2,533,960      2,474,194     2,445,132

                                            1998             1997           1996           1995           1994
ANALYSIS:
Quick Ratio                                  1.11             1.05           1.02           0.90          0.95
Current Ratio                                2.26             2.22           1.98           1.93          1.88
Total Liabilities to Total Equities          0.62             0.63           0.63           0.65          0.67
Return on Average Equity                    70.5%            73.1%          53.9%          58.6%
                                  1998 Projected      1997            1996            1995            1994
Net Working Capital                   $1,412,608     $1,385,049    $1,212,041      $1,149,962      $1,113,120

Net Operating Assets              $    2,047,836 $   2,020,277 $     1,762,718 $     1,603,956 $     1,541,956
Financial Obligations                  1,045,900     1,053,900         831,900         739,900         739,900
Financial Assets                               0              0               0               0               0
Net Financial Obligations              1,045,900     1,053,900         831,900         739,900         739,900
Owners Equity                          1,001,936       966,377         930,818         864,056         802,056
Net Operating Assets                   2,047,836     2,020,277       1,762,718       1,603,956       1,541,956

Operating Income + Commissions         1,184,922     1,120,295       1,002,520         802,316        790,567
NOPAT                             $      782,048 $     739,395 $       661,663 $       529,529 $      521,774
RNOA                                      38.45%        39.09%          39.31%          33.66%
Net Operating Working Capital          1,943,608      1,916,049       1,675,041       1,514,962       1,478,120
Net Long-term operating capital          104,228       104,228          87,677          88,994          63,836
Net Operating Assets                   2,047,836     2,020,277       1,762,718       1,603,956       1,541,956
                                             Crystal Supply Co.
                                Statement of Income and Retained Earning.
                                     For the Years ending December 31
Net Sales Growth                                  -1.612%
                                                 Projected
          Revenues and Expenses                   1998*                       1997                       1996                     1995                     1994         1994
Net Sales                                     $   11,283,894    100.0%   $   11,468,820    100.0%   $   11,656,777    100.0%   $ 10,757,866    100.0%   $ 11,694,902    100.0%
Cost of sales                                      7,882,545    69.9%         8,011,728    69.9%         8,074,495    69.3%       7,373,582    68.5%       8,329,248    71.2%
Gross Profit                                  $    3,401,349    30.1%    $    3,457,092    30.1%    $    3,582,282    30.7%    $ 3,384,284     31.5%    $ 3,365,654     28.8%
Selling, general and administrative expense        2,363,387    20.9%         2,402,119    20.9%         2,608,797    22.4%       2,608,079    24.2%       2,575,087    22.0%
Operating Income                                   1,037,962    9.2%          1,054,973    9.2%            973,485    8.4%          776,205    7.2%          790,567    6.8%
Interest revenues                                      1,106    0.0%              1,106    0.0%              3,624    0.0%              872    0.0%            6,482    0.1%
Commissions income                                   146,959    1.3%             65,322    0.6%             29,035    0.2%           26,111    0.2%                -    0.0%
Interest expense                                     (70,228)   -0.6%           (70,228)   -0.6%           (62,559)   -0.5%         (69,798)   -0.6%         (58,025)   -0.5%
Gain (loss) on disposal of assets                          -    0.0%                  -    0.0%                  -    0.0%                -    0.0%                -    0.0%
  Total other income                          $       77,837    0.7%     $       (3,800)   0.0%     $      (29,900)   -0.3%    $    (42,815)   -0.4%    $    (51,543)   -0.4%
Income before taxes                           $    1,115,800    9.9%     $    1,051,173    9.2%     $      943,585    8.1%     $    733,390    6.8%     $    739,024    6.3%
Est. Income taxes of Owners                          379,372    3.4%            357,399    3.1%            320,819    2.8%          249,353    2.3%          251,268    2.1%
Net Income                                    $      736,428    6.5%     $      693,774    6.0%     $      622,766    5.3%     $    484,037    4.5%     $    487,756    4.2%
Beginning Retained earnings                          856,377                    820,818                    754,056                  692,056                  627,731
Payments to Owners (Net of Tax)                     (700,869)                  (653,115)                  (556,004)                (422,037)                (423,431)
Dividends                                                  -                     (5,100)                         -                        -                        -
Ending retained earnings                             891,936                    856,377                    820,818                  754,056                  692,056

Tax Rates                                         34.0%                      34.0%                      34.0%                     34.0%                    34.0%
Earnings before interest and taxes (EBIT)          1,184,922                 1,120,295                   1,002,520                  802,316                  790,567
Net operating profit after taxes (NOPAT)             782,048                   739,395                     661,663                  529,529                  521,774

Related Party Transactions                        $1,345,000                 $1,345,000                 $1,163,000                 $961,000                 $902,000
Reasonable Compensation                              350,200                    340,000                    329,800                  319,906                  310,309
Distribute to Owners                               $994,800                  $1,005,000                   $833,200                 $641,094                 $591,691

Reasonable Compensation
 President                                          $144,200                   $140,000                  $135,800                  $131,726                 $127,774
 CFO                                                 103,000                    100,000                    97,000                    94,090                   91,267
 COO                                                 103,000                    100,000                    97,000                    94,090                   91,267
 Total                                              $350,200                   $340,000                  $329,800                  $319,906                 $310,309

NOPAT                                               $782,048                   $739,395                   $661,663                 $529,529                 $591,691
Expected NOPAT                                       245,740                   202,028                    176,272                  160,396                  154,196              -
Residual NOPAT                                       536,308                   537,367                    485,391                  369,133                  437,496

RESIDUAL OPERATING INCOME MODEL:
Net Operating Assets                               2,047,836              1,762,718                      1,541,956
Present value of Residual NOPAT                    4,469,233              growth in
                                                                Assumes no4,478,058 NOPAT                4,044,928
  Total Value of the Firm                          6,517,069              6,240,776                      5,586,884
Non-Operating Obligations                          1,045,900                831,900                        739,900
Value of the Equity                               $5,471,169             $5,408,876                     $4,846,984

Value per share                               $     1,072.78             $     1,060.56             $       950.39
                                                  Crystal Supply Co.
                                              Statement of Cash Flows
                                          For the years ending December 31
                                                   1998 [Projected]     1997               1996            1995             1994
Net income (loss) (a)                              $     736,428     $     693,774    $     622,766    $    484,037    $ 487,756
Adjustments for noncash and nonoperating
     Depreciation and amortization                         40,108           40,108           33,689          36,224          20,797
     Interest Expenses (Net)****Adjusted                  69,122            69,122           58,935          68,926          51,543
Changes in operating assets and liabilities, net
     Receivables                                           36,494           67,436         (165,901)        102,152        (191,145)
     Inventories                                           31,481         (133,962)          87,314        (168,977)       (124,733)
     Prepaid expenses                                           -                -                -             420           4,151
     Accounts payable and other liabilities               (13,415)         141,616         (312,185)         66,329          58,360
     Accrued payroll and taxes                                  -         (298,976)         206,316         (85,385)        128,826
     Accred expenses                                            -           (9,794)           6,873         (13,882)         16,803
Cash provided by operations                        $     900,217     $     569,324 $        537,807 $       489,844 $       452,358
INVESTING ACTIVITIES
Collections from partnership                                    -                -                -          66,652   137,760
Proceeds from sale of assets                                    -                -            1,750               -         -
Purchase of property and equipment                        (56,659)         (56,659)         (32,372)        (61,382)  (21,145)
Cash provided (used) by investing activities       $      (56,659)   $     (56,659) $       (30,622) $        5,270 $ 116,615
FINANCING ACTIVITIES
Line of credit                                                 -        100,000             100,000               -    (200,000)
Stockholders loan proceeds                                     -        130,000                   -               -           -
Repayment of notes payable                                (8,000)        (8,000)             (8,000)              -           -
Interest Expenses                                        (69,122)       (69,122)            (58,935)        (68,926)    (51,543)
Payments to Owners                                      (656,568)      (663,300)           (549,912)       (423,122)   (390,516)
Dividends paid                                                 -              -              (5,100)              -           -
Cash (used) provided by financing activities       $    (733,690)    $ (510,422) $         (521,947) $     (492,048) $ (642,059)
INCREASE (DECREASE) IN CASH AND
EQUIVALENTS                                        $     109,868     $       2,243    $     (14,762) $        3,066    $ (73,086)
CASH AND EQUIVALENTS AT BEGINNING                         34,773            32,530           47,292          44,226      117,312
CASH AND EQUIVALENTS AT END OF                     $     144,642     $      34,773    $      32,530 $        47,292    $ 44,226

Related Party Transactions                             $1,345,000        $1,345,000       $1,163,000       $961,000        $902,000
Compensation                                              350,200           340,000          329,800         319,906         310,309
Payment to Owners                                       $994,800         $1,005,000         $833,200       $641,094        $591,691
Taxes paid for owners                                    (338,232)        (341,700)        (283,288)       (217,972)       (201,175)
Net Payments to owners                                  $656,568           $663,300         $549,912       $423,122        $390,516
Reasonable Compensation
 President                                              $144,200          $140,000        $135,800         $131,726        $127,774
 CFO                                                     103,000           100,000          97,000           94,090          91,267
 COO                                                     103,000           100,000          97,000           94,090          91,267
 Total                                                  $350,200          $340,000        $329,800         $319,906        $310,309

Cash flow from operations                          $     900,217     $     569,324    $     537,807    $    489,844    $ 452,358
Change in net operating assets                            27,559           257,559          158,762          62,000
Free Cash Flows                                    $     872,658     $     311,765    $     379,045    $    427,844

Estimated value based on Free Cash Flows     $ 7,272,154             $ 2,598,043      $ 3,158,709      $ 3,565,370
Net Non-Operating Obligations of the Company   1,045,900               1,053,900          831,900          739,900
Estimated value of the Corporation Equity    $ 6,226,254             $ 1,544,143      $ 2,326,809      $ 2,825,470

    Value per share                                $     1,220.83    $      302.77    $      456.24    $     554.01

				
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