stefansson-wrangel-09-36-005-001

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THE STEFANSSON ARCTIC EXPLORATION & DEVELOPMENT COMPANY LIMITED

BALANCE SHEET

As at 30th June 1922.


ASSETS
Accounts Receivable:-
Jafet Lindeberg $ 775.00
Allan Crawford 192.98
Milton Galli 156.00
$ 1,123.98
Union Bank of Canada - Current Account 17.84
Profit and Loss Accounts:-
General Expenses and Salaries $ 17,232.44
Expense - Outfitting 4,331.58
"Silver Wave", Charter 2,617.35
Stationary and Office Supplies 110.59
Interest, Discount & Exchange 643.22
24,935.18
$ 26,077.00

LIABILITIES
Capital:-
Authorized, 1,000 Shares of $ 100.00 each $ 100,000.00
Issued, 239 Shares fully paid in cash $ 23,900.00
Sundry Creditors:-
Loans with accrued interest $ 1,070.70
Salaries outstanding 760.00
Received on Account of Shares not yet issued 250.00
Sundry Accounts 96.30
2,177.00
$ 26, 077.00

We have examined the Accounts of the Stefansson Arctic Exploration
and Development Company Limited
from 23rd June 1921 (date of Incorporation) to
30th June 1922, and we hereby certify that the foregoing Balance Sheet is, in our
opinoon, properly drawn up so as to exhibit a true and correct view of the state
of the Company's affairs as at 30th June 1922, according to the best of our
information and the explanatons given to us and as shown by the Books of the
Company.

Vancouver, B. C.

Buttar + Chiene
Chartered Accountants.

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