<PAGE> PAGE 1
000 A000000 04/30/97
000 C000000 877894
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 ALLIANCE INCOME BUILDER FUND
001 B000000 811-6372
001 C000000 2013194000
002 A000000 500 PLAZA DRIVE
002 B000000 SECAUCUS
002 C000000 NJ
002 D010000 07094
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B000001 A
008 C000001 801-32361
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10105
010 A000001 ALLIANCE CAPITAL MANAGEMENT L.P.
010 B000001 80132361
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10105
011 A000001 ALLIANCE FUND DISTRIBUTORS, INC.
011 B000001 8-30851
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10105
012 A000001 ALLIANCE FUND SERVICES, INC.
012 B000001 84-0001187
012 C010001 SECAUCUS
<PAGE> PAGE 2
012 C020001 NJ
012 C030001 07094
013 A000001 ERNST & YOUNG
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10172
014 A000001 DONALDSON, LUFKIN & JENRETTE SECURITIES
014 B000001 8-00017574
014 A000002 PERSHING
014 B000002 8-17574
014 A000003 AUTRONET
014 B000003 8-17574
015 A000001 BROWN BROTHERS HARRIMAN & CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 52
019 C000000 ALLIANCECA
020 A000001 MERRILL LYNCH PIERCE & SMITH
020 B000001 13-5674085
020 C000001 2
020 A000002 PAINE WEBBER INC.
020 B000002 13-2638166
020 C000002 1
020 A000003 STIFEL NICOLAUS & CO.
020 B000003 00-0000000
020 C000003 1
020 A000004 LEHMAN BROTHERS INC.
020 B000004 13-2518466
020 C000004 1
020 A000005 BRIDGE TRADING
020 B000005 43-1450530
020 C000005 1
020 A000006 MORGAN STANLEY & CO.
020 B000006 14-1674488
020 C000006 1
020 A000007 BERNSTEIN (SANFORD) & CO., INC.
020 B000007 13-2625870
020 C000007 1
020 A000008 BEAR STEARNS & CO., INC.
020 B000008 13-3299429
020 C000008 1
020 A000009 ALEX BROWN & SONS
020 B000009 52-0256630
020 C000009 1
020 A000010 CITATION FINANCIAL GROUP
020 B000010 00-0000000
<PAGE> PAGE 3
020 C000010 1
021 000000 12
022 A000001 BROWN BROTHERS HARRIMAN & CO.
022 B000001 13-4973745
022 C000001 191120
022 D000001 213187
022 A000002 FIRST NATIONAL BANK OF CHICAGO
022 B000002 00-0000000
022 C000002 10224
022 D000002 0
022 A000003 MERRILL LYNCH PIERCE FENNER & SMITH
022 B000003 13-5674085
022 C000003 1997
022 D000003 6966
022 A000004 MERRILL LYNCH
022 B000004 00-0000000
022 C000004 7211
022 D000004 1524
022 A000005 BEAR STEARNS & CO.
022 B000005 13-4946705
022 C000005 2208
022 D000005 5395
022 A000006 GOLDMAN SACHS
022 B000006 13-5108880
022 C000006 4323
022 D000006 2495
022 A000007 J.P. MORGAN SECURITIES, INC.
022 B000007 13-3224016
022 C000007 3006
022 D000007 3603
022 A000008 CREDIT SUISSE FIRST BOSTON CORP.
022 B000008 13-5659485
022 C000008 2383
022 D000008 3903
022 A000009 SALOMON BROTHERS
022 B000009 13-5365580
022 C000009 1962
022 D000009 2767
022 A000010 BANKERS TRUST CO.
022 B000010 13-4941247
022 C000010 4513
022 D000010 0
023 C000000 249621
023 D000000 501699
024 000000 Y
025 A000001 CHASE MANHATTAN CORP.
025 C000001 E
025 D000001 324
025 A000002 MERRILL LYNCH & CO., INC.
025 C000002 E
025 D000002 286
<PAGE> PAGE 4
025 A000003 DELETE
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 558
028 A020000 0
028 A030000 0
028 A040000 844
028 B010000 1652
028 B020000 1474
028 B030000 0
028 B040000 1057
028 C010000 378
028 C020000 0
028 C030000 0
028 C040000 975
028 D010000 217
028 D020000 0
028 D030000 0
028 D040000 587
028 E010000 733
028 E020000 228
028 E030000 0
028 E040000 756
028 F010000 252
028 F020000 0
028 F030000 0
028 F040000 964
028 G010000 3790
028 G020000 1702
028 G030000 0
028 G040000 5183
028 H000000 291
029 000000 Y
030 A000000 9
030 B000000 4.25
030 C000000 4.25
031 A000000 1
<PAGE> PAGE 5
031 B000000 0
032 000000 8
033 000000 0
034 000000 Y
035 000000 6
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 257
044 000000 36
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046 000000 N
047 000000 Y
048 000000 0.750
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
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048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
<PAGE> PAGE 6
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 Y
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 Y
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 N
060 B000000 N
061 000000 250
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
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062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 D000000 Y
067 000000 Y
068 A000000 N
068 B000000 N
<PAGE> PAGE 7
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 43130
071 B000000 44193
071 C000000 50905
071 D000000 169
072 A000000 6
072 B000000 1324
072 C000000 401
072 D000000 0
072 E000000 0
072 F000000 198
072 G000000 70
072 H000000 0
072 I000000 44
072 J000000 88
<PAGE> PAGE 8
072 K000000 0
072 L000000 6
072 M000000 14
072 N000000 57
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 26
072 S000000 22
072 T000000 256
072 U000000 1
072 V000000 0
072 W000000 3
072 X000000 785
072 Y000000 0
072 Z000000 940
072AA000000 1703
072BB000000 0
072CC010000 1426
072CC020000 0
072DD010000 837
072DD020000 168
072EE000000 2724
073 A010000 0.2200
073 A020000 0.2500
073 B000000 0.6100
073 C000000 0.0000
074 A000000 163
074 B000000 0
074 C000000 1100
074 D000000 27424
074 E000000 2454
074 F000000 21360
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 1205
074 K000000 0
074 L000000 623
074 M000000 3
074 N000000 54332
074 O000000 1100
074 P000000 73
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 238
074 S000000 0
074 T000000 52921
074 U010000 3762
<PAGE> PAGE 9
074 U020000 804
074 V010000 11.58
074 V020000 11.64
074 W000000 0.0000
074 X000000 2010
074 Y000000 0
075 A000000 0
075 B000000 53275
076 000000 0.00
077 A000000 Y
077 O000000 Y
077 Q010000 Y
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 B000000 GULF INSURANCE COMPANY
080 C000000 80000
081 A000000 Y
081 B000000 99
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE CATHERINE VACCA
TITLE DEPUTY MANAGER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6 Mos
<FISCAL-YEAR-END> Oct-31-1997
<PERIOD-START> Nov-01-1996
<PERIOD-END> Apr-30-1997
<INVESTMENTS-AT-COST> "45,483,721 "
<INVESTMENTS-AT-VALUE> "52,338,430 "
<RECEIVABLES> "1,990,802 "
<ASSETS-OTHER> "2,311 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "54,331,543 "
<PAYABLE-FOR-SECURITIES> "1,100,000 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "310,840 "
<TOTAL-LIABILITIES> "1,410,840 "
<SENIOR-EQUITY> "4,566 "
<PAID-IN-CAPITAL-COMMON> "44,089,064 "
<SHARES-COMMON-STOCK> "166,909 "
<SHARES-COMMON-PRIOR> "177,732 "
<ACCUMULATED-NII-CURRENT> "313,419 "
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "1,658,944 "
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "6,854,710 "
<NET-ASSETS> "52,920,703 "
<DIVIDEND-INCOME> "1,827,871 "
<INTEREST-INCOME> "165,242 "
<OTHER-INCOME> 0
<EXPENSES-NET> "784,861 "
<NET-INVESTMENT-INCOME> "940,414 "
<REALIZED-GAINS-CURRENT> "1,702,999 "
<APPREC-INCREASE-CURRENT> "1,426,251 "
<NET-CHANGE-FROM-OPS> "4,069,664 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(41,376)"
<DISTRIBUTIONS-OF-GAINS> "(100,177)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "290,768 "
<NUMBER-OF-SHARES-REDEEMED> "(521,499)"
<SHARES-REINVESTED> "106,324 "
<NET-CHANGE-IN-ASSETS> "648,269 "
<ACCUMULATED-NII-PRIOR> "378,639 "
<ACCUMULATED-GAINS-PRIOR> "2,679,768 "
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "198,139 "
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "784,861 "
<AVERAGE-NET-ASSETS> "53,275,012 "
<PER-SHARE-NAV-BEGIN> 11.57
<PER-SHARE-NII> .24
<PER-SHARE-GAIN-APPREC> .69
<PER-SHARE-DIVIDEND> (.25)
<PER-SHARE-DISTRIBUTIONS> (.61)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.64
<EXPENSE-RATIO> 2.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6 Mos
<FISCAL-YEAR-END> Oct-31-1997
<PERIOD-START> Nov-01-1996
<PERIOD-END> Apr-30-1997
<INVESTMENTS-AT-COST> "45,483,721 "
<INVESTMENTS-AT-VALUE> "52,338,430 "
<RECEIVABLES> "1,827,871 "
<ASSETS-OTHER> "165,242 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "54,331,543 "
<PAYABLE-FOR-SECURITIES> "1,100,000 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "310,840 "
<TOTAL-LIABILITIES> "1,410,840 "
<SENIOR-EQUITY> "4,566 "
<PAID-IN-CAPITAL-COMMON> "44,089,064 "
<SHARES-COMMON-STOCK> "630,694 "
<SHARES-COMMON-PRIOR> "499,876 "
<ACCUMULATED-NII-CURRENT> "313,419 "
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "1,658,944 "
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "6,854,710 "
<NET-ASSETS> "52,920,703 "
<DIVIDEND-INCOME> "401,225 "
<INTEREST-INCOME> "1,324,050 "
<OTHER-INCOME> 0
<EXPENSES-NET> "784,861 "
<NET-INVESTMENT-INCOME> "940,414 "
<REALIZED-GAINS-CURRENT> "1,702,999 "
<APPREC-INCREASE-CURRENT> "1,426,251 "
<NET-CHANGE-FROM-OPS> "4,069,664 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(125,355)"
<DISTRIBUTIONS-OF-GAINS> "(327,329)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "1,780,594 "
<NUMBER-OF-SHARES-REDEEMED> "(594,769)"
<SHARES-REINVESTED> "323,530 "
<NET-CHANGE-IN-ASSETS> "648,269 "
<ACCUMULATED-NII-PRIOR> "378,639 "
<ACCUMULATED-GAINS-PRIOR> "2,679,768 "
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "198,139 "
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "784,861 "
<AVERAGE-NET-ASSETS> "53,275,012 "
<PER-SHARE-NAV-BEGIN> 11.55
<PER-SHARE-NII> .20
<PER-SHARE-GAIN-APPREC> .70
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> (.61)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.62
<EXPENSE-RATIO> 3.01
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Class C
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6 Mos
<FISCAL-YEAR-END> Oct-31-1997
<PERIOD-START> Nov-01-1996
<PERIOD-END> Apr-30-1997
<INVESTMENTS-AT-COST> "45,483,721 "
<INVESTMENTS-AT-VALUE> "52,338,430 "
<RECEIVABLES> "1,827,871 "
<ASSETS-OTHER> "165,242 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "54,331,543 "
<PAYABLE-FOR-SECURITIES> "1,100,000 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "310,840 "
<TOTAL-LIABILITIES> "1,410,840 "
<SENIOR-EQUITY> "4,566 "
<PAID-IN-CAPITAL-COMMON> "44,089,064 "
<SHARES-COMMON-STOCK> "3,762,147 "
<SHARES-COMMON-PRIOR> "3,857,091 "
<ACCUMULATED-NII-CURRENT> "313,419 "
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "1,658,944 "
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "6,854,710 "
<NET-ASSETS> "52,920,703 "
<DIVIDEND-INCOME> "401,225 "
<INTEREST-INCOME> "1,324,050 "
<OTHER-INCOME> 0
<EXPENSES-NET> "784,861 "
<NET-INVESTMENT-INCOME> "940,414 "
<REALIZED-GAINS-CURRENT> "1,702,999 "
<APPREC-INCREASE-CURRENT> "1,426,251 "
<NET-CHANGE-FROM-OPS> "4,069,664 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(837,227)"
<DISTRIBUTIONS-OF-GAINS> "(2,292,629)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "1,645,761 "
<NUMBER-OF-SHARES-REDEEMED> "(4,066,701)"
<SHARES-REINVESTED> "1,270,426 "
<NET-CHANGE-IN-ASSETS> "648,269 "
<ACCUMULATED-NII-PRIOR> "378,639 "
<ACCUMULATED-GAINS-PRIOR> "2,679,768 "
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "198,139 "
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "784,861 "
<AVERAGE-NET-ASSETS> "53,275,012 "
<PER-SHARE-NAV-BEGIN> 11.52
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> .68
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> (.61)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.58
<EXPENSE-RATIO> 3.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> Advisor Class
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6 Mos
<FISCAL-YEAR-END> Oct-31-1997
<PERIOD-START> Nov-01-1996
<PERIOD-END> Apr-30-1997
<INVESTMENTS-AT-COST> "45,483,721 "
<INVESTMENTS-AT-VALUE> "52,338,430 "
<RECEIVABLES> "1,827,871 "
<ASSETS-OTHER> "165,242 "
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "54,331,543 "
<PAYABLE-FOR-SECURITIES> "1,100,000 "
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "310,840 "
<TOTAL-LIABILITIES> "1,410,840 "
<SENIOR-EQUITY> "4,566 "
<PAID-IN-CAPITAL-COMMON> "44,089,064 "
<SHARES-COMMON-STOCK> "6,256 "
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> "313,419 "
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "1,658,944 "
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "6,854,710 "
<NET-ASSETS> "52,920,703 "
<DIVIDEND-INCOME> "401,225 "
<INTEREST-INCOME> "1,324,050 "
<OTHER-INCOME> 0
<EXPENSES-NET> "784,861 "
<NET-INVESTMENT-INCOME> "940,414 "
<REALIZED-GAINS-CURRENT> "1,702,999 "
<APPREC-INCREASE-CURRENT> "1,426,251 "
<NET-CHANGE-FROM-OPS> "4,069,664 "
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(1,676)"
<DISTRIBUTIONS-OF-GAINS> "(3,688)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "72,601 "
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> "1,027 "
<NET-CHANGE-IN-ASSETS> "648,269 "
<ACCUMULATED-NII-PRIOR> "378,639 "
<ACCUMULATED-GAINS-PRIOR> "2,679,768 "
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "198,139 "
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "784,861 "
<AVERAGE-NET-ASSETS> "53,275,012 "
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .25
<PER-SHARE-GAIN-APPREC> 2.27
<PER-SHARE-DIVIDEND> (.27)
<PER-SHARE-DISTRIBUTIONS> (.61)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.64
<EXPENSE-RATIO> 2.07
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE>
FORM N-SAR ATTACHMENT ITEM 77 0
"10f-3 TRANSACTIONS FOR THE PERIOD NOVEMBER 1, 1996 THROUGH APRIL 30, 1997"
Alliance Income Builder Fund
Shares Total % of Issue Shares
Date Shares % of Fund Price per Purchased by Shares Purchased Held
Security Purchased Purchased Assets Share Fund group Issued By Group Broker(s) 4/30/97
Carnival Corp. 11/13/96 "7,000 " 0.39% $29.50 "7,000" "20,300,000 " 0.03% Goldman Sachs "8,000 "
<S> <C> <C> <C> <C> <C> <C> <C> <C> <S>
Deutsche Telecom 11/18/96 "3,600 " 0.13% $18.89 "1,077,590" "85,000,000 " 1.27% Goldman Sachs 0
</TABLE>
