PACIFIC AND SOUTHERN BROADCASTING COMPANY, INC.                                                     

                                                                                WWDJ, HACKENSACK, N.J. DIVISION                                                                                         

   STATEMENT OF INCOME             

                  04/14/71 TO 3/31/74                                 

                                                                                                                               


Gross Revenues    3,707,822.38
Agency & Sales rep commissions      (546,879.64)
Revenues, net of agency & rep commissions 3,160,942.74
Cost & Expenses:
Program & Production              1,154,672.64
News    579,534.65
Technical                              807,287.68
Sales Department                     862,115.67
Promotion      518,412.28
General & Administrative        1,299,238.23
Net Expenses:  5,221,261.15
Profit(Loss) before Depreciation & Interest (2,060,318.41)
Depreciation     156,044.74
Interest Income           (102.75)
Miscellaneous Other(Income)        (3,698.79)
Interest Expense            4,430.34
Depreciation, Interest Expense & Other Expenses, net       156,673.59
Net Income(Loss) before Federal Income taxes (2,221,748.14)

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