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Previous: ALLEGHENY POWER SYSTEM INC, 35-CERT, 1997-08-29 |
Next: ENTERPRISE GROUP OF FUNDS INC, N-30D, 1997-08-29 |
___________________________________
:
IN THE MATTER OF :
:
AYP CAPITAL, INC. :
: CERTIFICATE
File No. 70-8951 : PURSUANT TO RULE 24
: FOR THE QUARTER ENDED
(Public Utility Holding : JUNE 30, 1997
Company Act of 1935) :
___________________________________ :
During the second quarter, AYP Capital, Inc. (AYP Capital)
continued its activities in marketing and selling heat pumps. In connection
with these activities, AYP Capital spent $159,303.96 in operation and
maintenance expenses, $39,075.50 in capital expenditures less $926.68 in
depreciation expenses for a net $38,148,82.
Attached are consolidated financial statements for the quarter
ended June 30, 1997.
AYP CAPITAL, INC.
By: /s/ Thomas K. Henderson
Thomas K. Henderson
Vice President
AYP Capital, Inc.
Dated: August 29, 1997
<PAGE>
AYP CAPITAL
CONSOLIDATED STATEMENT OF INCOME
FOR TWELVE MONTHS ENDED JUNE 30, 1997
<TABLE>
<CAPTION>
QTR YTD 12MOS
<S> <C> <C> <C>
ELECTRIC OPERATING REVENUES 12,250,205 24,537,877 26,619,606
OPERATING EXPENSES:
Operation:
Fuel 6,090,005 11,881,357 12,608,856
Purchased Power & Exchange 2,357,770 5,610,319 6,944,903
Other 921,814 1,811,661 2,938,270
Transmission & Distribution 984,770 1,786,599 2,044,919
Cust. Accts & Services 105,844 169,339 256,514
Administrative & General 1,744,156 2,830,686 3,690,161
Total Operation & Maintenance 12,204,358 24,089,960 28,483,623
Depreciation 1,326,681 2,643,534 2,655,668
Taxes other than income taxes 1,355,910 2,451,230 3,216,792
Federal and state income taxes (2,092,544) (3,991,547) (5,933,101)
Total Operating Expenses 12,794,405 25,193,177 28,422,982
Operating Income (544,200) (655,300) (1,803,376)
OTHER INCOME AND DEDUCTIONS:
Other income, net 177,860 191,096 328,261
Total Other Income and Deductio 177,860 191,096 328,261
Income Before Interest Charges and
Preferred Dividends (366,340) (464,203) (1,475,115)
INTEREST CHARGES AND PREFERRED DIVIDENDS:
Interest on other long-term obligations 2,742,133 5,454,133 7,292,267
Other interest 8,517 21,867 21,882
Total Interest Charges and
Preferred Dividends 2,750,650 5,476,000 7,314,149
Consolidated Net Income (3,116,990) (5,940,203) (8,789,264)
</TABLE>
Unaudited
<PAGE>
AYP Capital, Inc.
CONSOLIDATED BALANCE SHEET
As of June 30, 1997
Assets
Property, plant, and equipment:
At original cost 176,308,206
Accumulated depreciation (2,967,742)
173,340,464
Investments and other assets:
Nonutility investments 3,008,925
3,008,925
Current assets:
Cash and temporary cash investments 8,265,043
Accounts receivable:
Electric service 4,671,361
Other 929,588
Accts. Receivable - Affiliates 382,012
Materials and supplies--at average cost:
Operating and construction 2,524,287
Fuel 2,843,608
Other 2,984,435
22,600,333
Deferred charges:
Other 325,412
325,412
Total Assets 199,275,133
Capitalization and Liabilities
Capitalization:
Common stock 1,000
Other paid-in capital 36,473,446
Retained earnings (9,820,830)
26,653,615
Preferred stock:
Long-term debt of subsidiaries 160,000,000
Long-term debt of subsidiaries 0
186,653,615
Current liabilities:
Accounts payable - Affil. 3,824,822
Accounts payable - Other 2,155,756
Taxes accrued:
Federal and state income 180,411
Other 1,119,716
Interest accrued 1,838,133
Payrolls Accrued 0
Other 931,304
10,050,142
Deferred credits and other liabilities:
Deferred income taxes 2,286,017
Other 285,359
2,571,376
Total Capitalization and Liabilities 199,275,133
Unaudited
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