<PAGE>
COMMONWEALTH INCOME & GROWTH FUND II
Supplement Dated May 6, 1997
To
Prospectus Dated May 12, 1995
Closing of Sale of Additional Units
On April 14 1997, the payments received from subscribers
(subsequent to April 2, 1997) were released from escrow and
have become available to the Partnership for the payment of
expenses and utilization as described under "USE OF
PROCEEDS" and the Partnership accepted subscriptions from
investors totaling approximately $181,000 (9,000 Limited
Partnership Units).
Acquisition of Equipment
The Partnership has committed to purchase thirty-eight IBM
Printers for approximately $600,000. The Equipment is
subject to a 34 month lease with Federated Department
Stores, Inc. The monthly rent during the term of the lease
is expected to be approximately $15,200.
Prior Performance
The General Partner has previously sponsored one Equipment
leasing program, Commonwealth Income & Growth Fund I, a
limited partnership, which registered securities under the
Securities Act of 1933 and which has investment objectives
substantially identical to the Partnership. The partnership
terminated its offering of units on May 11, 1995, with
$12,624,153 raised from investors. On December 8, 1995,
this partnership's net offering proceeds were fully
utilized in the purchase of computer peripheral equipment.
All of the equipment was new when acquired. As of December
31, 1996 the partnership sold computer equipment with a net
book value of $1,440,000, for a net loss of $692,000.
Commonwealth Capital Corp. has conducted single investor and
leveraged lease transactions involving a variety of types of
Equipment. These transactions involved arranging for the
investment by single investor in Equipment and simultaneous
lease of the Equipment on a single transaction basis. The
investment objectives of these transactions were to provide
tax deductions and cash distributions. In addition, in
1984, Commonwealth Capital Corp. arranged for end user
leases of Equipment in a leveraged lease co-ownership
program involving the private sale of partnership interest
to 10 investors. The investment objectives of that program
were to provide tax deductions and cash distributions.
<PAGE>
Commonwealth Income & Growth Fund II
Supplement Dated May 6, 1997.
Page 2 of 2.
Affiliates of Commonwealth Capital Corp. have also sponsored
16 prior private equipment leasing programs with investment
objectives similar to the Partnership. As of December 31,
1996, these programs raised a total of $31,662,500 from
investors in private offerings of securities. Thirteen of
the programs were structured as limited partnerships and
three were structured as Delaware business trusts.
Interests in the programs were purchased by an aggregate of
789 investors. As of December 31, 1996, the programs had
acquired from original offering proceeds $30,058,819 in
equipment, all of which was computer peripheral equipment.
Approximately 97% of the equipment was new when acquired by
the program and approximately three percent was used, and
approximately 65% of the equipment has been sold.
Currently, operating income for these programs is lower than
projected in the prospective financial statements which were
included in the offering document applicable to each such
program primarily because equipment acquired by such
programs has not produced the projected residual value on
sale. Commonwealth Capital Corp. has outstanding demand
promissory notes in the amount of $3,166,250 to the general
partners or trustees of its prior private programs. See the
prior performance tables attached as "Appendix I" for
further information concerning these prior public and
private programs.
Financial Information
Appendix 1 contains the following:
Prior Performance Tables - Updated to December 31, 1996.
<PAGE>
COMMONWEALTH INCOME & GROWTH FUND II
APPENDIX 1
To the Supplement Dated May 6, 1997
* Prior Performance Tables - Updated to December 31, 1996.
<PAGE>
TABLE I
EXPERIENCE IN RAISING AND INVESTING FUNDS
The following table sets forth certain information about the
experience of the General Partner in raising and investing
funds for three private equipment leasing programs and two
public equipment leasing programs sponsored by the General
Partner and Affiliates which closed in the most recent three
years. It is expected that the prior programs will
continue to purchase additional equipment.
<PAGE>
COMMONWEALTH CAPITAL CORP.
EXPERIENCE IN RAISING AND INVESTING FUNDS
as of December 31, 1996 (TABLE I)
<TABLE>
<CAPTION>
COMMONWEALTH COMMONWEALTH COMMONWEALTH
COMMONWEALTH EQUIPMENT COMMONWEALTH EQUIPMENT EQUIPMENT
INCOME & GROWTH INCOME PRIVATE INCOME & GROWTH INCOME PRIVATE INCOME PRIVATE
FUND I FUND--IV, L.P. FUND II FUND--V, L.P. FUND--VI, L.P.
--------------------- -------------- --------------------- ------------------ ---------------
<S> <C> <C> <C> <C> <C>
Offering Information:
Amount offered (maximum).... 15,000,000 1,550,000 15,000,000 1,000,000 1,500,000
Dollar Amount Sold......... 12,623,682 1,550,000 8,049,400 1,000,000 1,500,000
(1) Dealer/ Manager Expenses... 1,133,377 77,500 723,535 50,000 75,000
(2) Offering/ Organizational
Expenses... 402,483 62,000 291,482 40,000 51,505
----------- -------------- ----------- ---------- ---------------
Net Proceeds Available...... 11,087,822 1,410,500 7,034,383 910,000 1,373,495
Total Equipment Purchases:
Equipment purchased
with cash................. 12,172,618 1,391,644 4,627,644 896,319 0
Equipment financed......... 8,023,145 766,867 0 266,818 0
Rent paid to original
lessor in leiu of cash.... 316,579 10,653 4,290 1,510 7,375
Obligation incurred in
connection to leased
equipment................. 1,088,597 125,392 0 73,086 264,561
----------- -------------- ----------- ---------- ---------------
21,600,939 2,294,556 4,631,934 1,237,733 271,936
% of Equipment
financed as of
December 31, 1996......... 20.6% 24.3% 0.0% 14.9% 0.0%
Initial Acquisition
Fees (%)(3)................ 3.4% 2.2% 3.4% 2.2% 2.2%
Date Offering Commenced..... 12/17/93 06/23/95 05/12/95 09/28/95 09/30/96
Date Offering Completed..... 05/11/95 06/23/95 N/A 09/28/95 09/30/96
Average Initial Term of
Leases (in months)........ 32 35 35 33 24
Months from closing to
invest 90%................ 5 4 N/A 3 N/A
</TABLE>
- ------------------------
(1) Dealer/Manager expenses include commissions to brokers, due diligence and
out-of-pocket expenses.
(2) Offering/Organizational expenses consist of legal fees, blue sky filings,
accounting fees, printing charges for perspective books and the guarantee
fee.
(3) Fees were paid to the General Partner/Management Trustee at fund closing.
<PAGE>
TABLE II
COMPENSATION TO
GENERAL PARTNERS AND AFFILIATES
The following table sets forth certain information concerning all the
compensation earned by the General Partner and its Affiliates for three
private equipment leasing programs and two public equipment leasing programs
sponsored by the General Partner and Affiliates which closed in the most
recent three years. Amounts are from two sources: (1) proceeds from the
offering and (2) gross revenues. Amounts for operations are cumulative.
<PAGE>
COMMONWEALTH CAPITAL CORP.
COMPENSATION TO GENERAL PARTNERS AND AFFILITATES
as of December 31, 1996
(TABLE II)
<TABLE>
<CAPTION>
COMMONWEALTH COMMONWEALTH COMMONWEALTH
COMMONWEALTH EQUIPMENT COMMONWEALTH EQUIPMENT EQUIPMENT
INCOME & GROWTH INCOME PRIVATE INCOME & GROWTH INCOME PRIVATE INCOME PRIVATE
FUND I FUND--IV, L.P. FUND II FUND--V, L.P. FUND--VI, L.P.
--------------------- -------------- --------------------- ------------------ --------------
<S> <C> <C> <C> <C> <C>
Date offering commenced........ 3/14/94 06/23/95 09/22/95 09/29/95 09/30/96
Dollar amount raised........... 12,624,153 $ 1,550,000 8,049,400 $ 1,000,000 $ 1,500,000
Amount paid from the proceeds
of offering, reinvestment
and/or debt:
Initial Acquisition Fee.... 426,473 34,100 270,553 22,000 33,000
Organizational Fee......... 140,869 9,590 241,482 7,600 7,701
Cash generated from operations
before deducting payments to
the General Partner and
Affiliates................... 5,705,197 472,307 1,066,761 309,939 (1,195)
Amount paid to the General
Partner and Affiliates from
operations:
Equipment Management Fee... 558,000 35,191 60,927 18,982 221
Acquisition Fee............ 416,527 29,782 0 9,509 0
Finance Fee................ 83,000 7,669 0 2,668 0
Dollar amount of equipment
sales and refinancing before
deducting payments to the
General Partner and
Affiliates................... 766,667 26,667 0 0 0
Amount paid to the General
Partner and Affiliates from
equipment sales and
refinancing.................. 23,000 800 0 0 0
</TABLE>
<PAGE>
TABLE III
OPERATING RESULTS OF PRIOR PROGRAMS
The following table sets forth certain information about the operating
results of eight prior private programs and two prior public programs
sponsored by the General Partner and its Affiliates during the most recent
five years. This table provides a computation of Net Income, and cash flows,
as well as investment data per a $1,000 investment.
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND--II, L.P.
OPERATING RESULTS OF PRIOR PROGRAMS
(Table III)
PROGRAM INCEPTION TO DECEMBER 31, 1996
<TABLE>
<CAPTION>
PROGRAM INCEPTION TO DECEMBER 31, 1996 1992 1993 1994 1995 1996
- -------------------------------------------------------------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
Computation of Net Income
Months of Operations.......................................... **6 12 12 12 12
Gross Revenues................................................ 139,299 528,396 763,330 543,795 444,107
Less: Operating Expenses...................................... 2,664 12,233 18,758 66,172 12,187
Equipment Management Fee.................................. 6,707 26,338 38,022 27,126 22,170
Interest Expense.......................................... 11,112 31,650 33,373 12,897
Loss on Sale of Computer Equipment........................ 148 54,140 25,713 112,387
Depreciation and Amortization............................. 91,620 328,145 765,705 547,525 496,067
---------- ---------- ---------- ---------- ----------
Net Income (Loss)--GAAP Basis................................. 38,308 150,420 (144,945) (156,114) (211,601)
---------- ---------- ---------- ---------- ----------
---------- ---------- ---------- ---------- ----------
Federal Taxable Income (Loss)................................. 71,965 56,951 1,433 (286,429) (31,634)
Cash Distributions--GAAP Basis................................ (68,534) (131,313) (131,313) (131,313) (131,313)
Computation of Cash Flows
Net Income (Loss)............................................. 38,308 150,420 (144,945) (156,114) (211,601)
Adjustments to Reconcile Net Income (Loss) to Net Cash
Provided by Operating Activities:
Depreciation and Amortization............................... 91,620 328,145 765,705 547,525 496,067
Loss on Sale of Computer Equipment.......................... 148 54,140 25,713 112,387
Other Non-Cash Activities Included in the Determination of
Net Income (Loss) *....................................... (18,403) (200,833) (371,925) (338,310) (290,814)
Net Change in Operating Assets and Liabilities.............. (22,618) 55,624 (16,891) 35,966 18,670
---------- ---------- ---------- ---------- ----------
Net Cash Provided by Operating Activities..................... 88,907 333,504 286,084 114,780 124,709
Capital Expenditures.......................................... (851,213) (299,704) (179,555) (62,898)
Net Proceeds from Sale of Computer Equipment.................. 68,400 49,325 87,352 9,845
Increase in Organization Costs and Deferred Expenses.......... (26,178) (52,374) (25,922) (2,515)
---------- ---------- ---------- ---------- ----------
Net Cash (Used in) Provided by Investing Activities........... (877,391) (283,678) (156,152) 21,939 9,845
Partners' Contributions....................................... 1,001,000
Offering Costs................................................ (60,400)
Distributions to Partners..................................... (68,534) (131,313) (131,313) (131,313) (131,313)
---------- ---------- ---------- ---------- ----------
Net Cash Provided by (Used in) Financing Activities........... 872,066 (131,313) (131,313) (131,313) (131,313)
Net Increase (Decrease) in Cash............................... 83,582 (81,487) (1,381) 5,406 3,241
Cash at Beginning of Year..................................... 83,582 2,095 714 6,120
---------- ---------- ---------- ---------- ----------
Cash at End of Year........................................... 83,582 2,095 714 6,120 9,361
---------- ---------- ---------- ---------- ----------
---------- ---------- ---------- ---------- ----------
Investment Data Per $1,000 Investment
Net Income (Loss)--GAAP Basis................................. 38 150 (145) (156) (212)
Federal Taxable Income to Investors........................... 71 56 0.35 (289) (32)
Cash Distributions to Investors--GAAP Basis................... (68) (130) (130) (130) (130)
Return of Capital to Investors--GAAP Basis.................... 30 130 130 130
</TABLE>
* The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment is financed. The increase over the periods presented
was caused primarily by the acquisition of more financed equipment.
** Partnership commenced operations on 6/23/92
<PAGE>
COMMONWEALTH EQUIPMENT INCOME TRUST VIII
OPERATING RESULTS OF PRIOR PROGRAMS
(Table III)
<TABLE>
<CAPTION>
PROGRAM INCEPTION TO DECEMBER 31, 1996 1992 1993 1994 1995 1996
- ------------------------------------------------------- ----------- ----------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
Computation of Net Income
Months of Operations................................... **3 12 12 12 12
Gross Revenues......................................... 119,454 1,246,627 1,694,076 1,601,494 1,620,033
Less: Operating Expenses............................... 2,375 19,322 99,634 28,206 28,363
Equipment Management Fee............................ 5,200 61,525 84,344 79,606 77,052
Interest............................................ 33,210 67,189 85,160 94,699
Loss on Sale of Equipment........................... 16,892 96,528 62,222 --
Depreciation and Amortization....................... 61,815 756,143 1,563,577 1,527,015 1,631,876
----------- ----------- ---------- ---------- ----------
Net Income (Loss) -GAAP Basis.......................... 50,064 359,535 (217,196) (180,715) (211,957)
----------- ----------- ---------- ---------- ----------
----------- ----------- ---------- ---------- ----------
Federal Taxable Income (Loss).......................... 49,316 18,450 (137,962) (2,429) 123,442
Cash Distributions--GAAP Basis......................... (112,515) (393,939) (393,939) (393,939) (393,939)
Computation of Cash Flows
Net Income (Loss)...................................... 50,064 359,535 (217,196) (180,715) (211,957)
Adjustments to Reconcile Net Income (Loss) to Net Cash
Provided by Operating Activities:
Depreciation and Amortization....................... 61,815 756,143 1,563,577 1,527,015 1,631,876
Loss on Sale of Equipment........................... 16,892 96,528 62,222 (72,391)
Other Non-Cash Activities Included in the Determination
of Net Income (Loss) *............................ (64,081) (501,571) (871,264) (823,423) (991,839)
Net Change in Operating Assets and Liabilities...... 10,355 240 143,083 (86,946) (98,933)
----------- ----------- ---------- ---------- ----------
Net Cash Provided by Operating Activities.............. 58,153 631,239 714,728 498,153 256,756
Capital Expenditures................................... (982,795) (1,546,729) (313,675) (117,000) (215,636)
Increase in Organization Costs and Deferred Expenses... (95,799) (135,769) (64,940) (33,589) (53,084)
Net Proceeds From Sale of Computer Equipment........... 114,262 41,666 230,734 243,306
Payment of Computer Equipment Payable.................. (22,223)
----------- ----------- ---------- ---------- ----------
Net Cash (Used in) Provided by Investing Activities.... (1,078,594) (1,568,236) (336,949) 80,145 (47,637)
Trust Beneficiaries and Managing Trustee
Contributions........................................ 3,001,000
Offering Costs......................................... (345,150)
Payment of Computer Equipment Payable.................. (159,357)
Distributions to Trust Beneficiaries and Managing
Trustee.............................................. (112,515) (393,939) (393,939) (393,939) (393,939)
----------- ----------- ---------- ---------- ----------
Net Cash Provided by (Used in) Financing Activities.... 2,543,335 (393,939) (553,296) (393,939) (393,939)
Net Increase (Decrease) in Cash........................ 1,522,894 (1,330,936) (175,517) 184,359 (184,820)
Cash at Beginning of Year.............................. 1,522,894 191,958 16,441 200,800
----------- ----------- ---------- ---------- ----------
Cash at End of Year.................................... 1,522,894 191,958 16,441 200,800 15,980
----------- ----------- ---------- ---------- ----------
----------- ----------- ---------- ---------- ----------
Investment Data Per $1,000 Investment
Net Income (Loss)--GAAP Basis.......................... 17 120 (72) (60) (71)
Federal Taxable Income (Loss) to Investors............. 16 6 (47) (0.92) 41.86
Cash Distributions to Investors--GAAP Basis............ (37) (130) (130) (130) (130)
Return of Capital to Investors--GAAP Basis............. 21 11 130 130 130
</TABLE>
- ------------------------
* The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment is financed. The increase over the periods presented
was caused primarily by the acquisition of more financed equipment.
** Partnership commenced operations on 9/18/92
<PAGE>
COMMONWEALTH EQUIPMENT INCOME TRUST IX
OPERATING RESULTS OF PRIOR PROGRAMS
(TABLE III)
Program Inception to December 31, 1996
<TABLE>
<CAPTION>
COMPUTATION OF NET INCOME 1993 1994 1995 1996
- ------------------------------------------------------------ ----------- ---------- ----------- -----------
<S> <C> <C> <C> <C>
Months of Operations........................................ ** 12 12 12 12
Gross Revenues.............................................. 1,046,655 1,598,529 1,701,131 1,209,610
Less: Operating Expenses 6,295 41,237 30,992 25,492
Equipment Management Fee................................ 50,681 79,067 84,862 59,873
Interest................................................ 34,897 68,876 100,272 73,547
Loss on Sale of Computer Equipment...................... 113,283 35,784 --
Depreciation and Amortization........................... 654,388 1,549,475 1,596,729 1,294,695
----------- ---------- ----------- -----------
Net Income (Loss) -GAAP Basis............................... 300,394 (253,409) (147,508) (243,997)
----------- ---------- ----------- -----------
----------- ---------- ----------- -----------
Federal Taxable Income (Loss)............................... 28,736 (339,227) 152,888 (115,201)
Cash Distributions--GAAP Basis.............................. (385,305) (393,938) (393,938) (393,938)
Computation of Cash Flows
Net Income (Loss)........................................... 300,394 (253,409) (147,508) (243,997)
Adjustments to Reconcile Net Income (Loss) to Net Cash
Provided by Operating Activities:
Depreciation and Amortization............................. 654,388 1,549,475 1,596,729 1,294,695
(Gain)/Loss on Sale of Computer Equipment................. 113,283 35,784 (1,964)
Other Non-Cash Activities Included in the Determination of
Net Income (Loss) *..................................... (737,271) (739,868) (1,036,766) (772,069)
Net Change in Operating Assets and Liabilities............ 105,157 (63,826) (19,953) 47,968
----------- ---------- ----------- -----------
Net Cash Provided by Operating Activities................... 322,668 605,655 428,286 324,633
Capital Expenditures........................................ (2,381,335) (207,196) (66,250) (314,020)
Net Poceeds from Sale of Computer Equipment................. 112,551 208,191 278,108
Payment of Computer Equipment Payable....................... (55,588)
Increase in Organization Costs and Deferred Expenses........ (211,939) (64,138) (14,943) (52,207)
----------- ---------- ----------- -----------
Net Cash (Used in) Provided by Investing Activities......... (2,593,274) (214,371) 126,998 (88,119)
Trust Beneficiaries & Managing Trustee Contributions........ 3,001,000
Offering Costs.............................................. (341,268)
Distributions to Trust Beneficiaries and Managing Trustee... (385,305) (393,938) (393,938) (393,938)
----------- ---------- ----------- -----------
Net Cash Provided by (Used in) Financing Activities......... 2,274,427 (393,938) (393,938) (393,938)
Net Increase (Decrease) in Cash............................. 3,821 (2,654) 161,346 (157,424)
Cash at Beginning of Year................................... -- 3,821 1,167 162,513
----------- ---------- ----------- -----------
Cash at End of Year......................................... 3,821 1,167 162,513 5,089
----------- ---------- ----------- -----------
----------- ---------- ----------- -----------
Investment Data Per $1,000 Investment
Net Income (Loss)--GAAP Basis............................... 100 (84) (49) (81)
Federal Taxable Income (Loss) to Investors.................. 9 (115) 52 (39)
Cash Distributions to Investors--GAAP Basis................. (127) (130) (130) (130)
Return of Capital to Investors--GAAP Basis.................. 28 130 130 130
</TABLE>
- ------------------------
* The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment is financed. The increase over the periods presented
was caused primarily by the acquisition of more financed equipment.
** Partnership commenced operations on 1/6/93
<PAGE>
COMMONWEALTH EQUIPMENT INCOME TRUST X
OPERATING RESULTS OF PRIOR PROGRAMS
(Table III)
Program Inception to December 31, 1996
<TABLE>
<CAPTION>
1993 1994 1995 1996
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Computation of Net Income
Months of Operations....................................... ** 6 12 12 12
Gross Revenues............................................. 469,154 1,942,165 2,356,253 2,042,037
Less: Operating Expenses 3,493 45,372 27,209 33,003
Equipment Management Fee............................... 22,715 96,088 117,200 101,678
Interest............................................... 19,922 111,203 103,563 121,373
Loss on Sale of Equipment.............................. 247,173 275,138
Depreciation and Amortization.......................... 290,701 1,738,026 2,093,524 2,168,922
----------- ----------- ----------- -----------
Net Income (Loss)-GAAP Basis............................... 132,323 (48,524) (232,416) (658,077)
----------- ----------- ----------- -----------
----------- ----------- ----------- -----------
Federal Taxable Income (Loss).............................. 84,363 250,199 (424,225) (562,989)
Cash Distributions--GAAP Basis............................. (189,845) (484,848) (484,848) (484,848)
Computation of Cash Flows
Net Income (Loss).......................................... 132,323 (48,524) (232,416) (658,077)
Adjustments to Reconcile Net Income (Loss) to Net Cash
Provided by Operating Activities:
Depreciation and Amortization............................ 290,701 1,738,026 2,093,524 2,168,922
Loss on Sale of Computer Equipment....................... 247,173 275,138
Other Non-Cash Activities Included in the Determination
of Net Income (Loss) *................................. (275,249) (921,663) (1,230,866) (1,329,258)
Net Change in Operating Assets and Liabilities........... (1,074) 182,745 (73,394) (80,879)
----------- ----------- ----------- -----------
Net Cash Provided by Operating Activities.................. 146,701 950,584 804,021 375,846
Capital Expenditures....................................... (2,363,652) (1,291,685) (256,843) (133,637)
Net Proceeds from Sale of Equipment........................ 236,246 245,756
Increase in Organization Costs and Deferred Expenses....... (233,521) (105,713) (71,197) (35,876)
----------- ----------- ----------- -----------
Net Cash Provided by (Used in) Investing Activities........ (2,597,173) (1,397,398) (91,794) 76,243
Trust Beneficiaries & Managing Trustee Contributions....... 4,001,000
Offering Costs............................................. (427,991)
Distributions to Trust Beneficiaries and Managing
Trustee.................................................. (189,845) (484,848) (484,848) (484,848)
----------- ----------- ----------- -----------
Net Cash Provided by (Used in) Financing Activities........ 3,383,164 (484,848) (484,848) (484,848)
Net Increase (Decrease) in Cash............................ 932,692 (931,662) 227,379 (32,759)
Cash at Beginning of Year.................................. -- 932,692 1,030 228,409
----------- ----------- ----------- -----------
Cash at End of Year........................................ 932,692 1,030 228,409 195,650
----------- ----------- ----------- -----------
----------- ----------- ----------- -----------
Investment Data Per $1,000 Investment
Net Income (Loss)--GAAP Basis.............................. 33 (12) (58) (165)
Federal Taxable Income to Investors........................ 21 62 (108) (142)
Cash Distributions to Investors--GAAP Basis................ (47) (120) (120) (120)
Return of Capital to Investors--GAAP Basis................. 14 120 120 120
</TABLE>
- ------------------------
* The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment is financed. The increase over the periods presented
was caused primarily by the acquisition of more financed equipment.
** Partnership commenced operations on 7/7/93
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND--III, L.P.
OPERATING RESULTS OF PRIOR PROGRAMS
(Table III)
Program Inception to December 31, 1996
<TABLE>
<CAPTION>
1993 1994 1995 1996
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Computation of Net Income
Months of Operations....................................... ** 1 12 12 12
Gross Revenues............................................. 12,102 497,829 692,749 732,199
Less: Operating Expenses................................... 128 18,904 8,570 8,958
Equipment Management Fee............................... 550 24,301 34,258 36,429
Interest............................................... 21,105 48,772 24,721
Loss on Sale of Equipment.............................. 344,143
Depreciation and Amortization.......................... 6,548 381,105 552,463 694,502
--------------------------------------------------
Net Income (Loss)--GAAP Basis.............................. 4,876 52,414 48,686 (376,554)
--------------------------------------------------
--------------------------------------------------
Federal Taxable Income (Loss).............................. 8,149 61,991 20,091 (277,992)
Cash Distributions--GAAP Basis............................. (2,989) (121,212) (121,212) (121,212)
Computation of Cash Flows
Net Income (Loss).......................................... 4,876 52,414 48,686 (376,554)
Adjustments to Reconcile Net Income (Loss) to Net Cash
Provided by Operating Activities:
Depreciation and Amortization.............................. 6,548 381,105 552,463 694,502
Loss on Sale of Equipment.................................. 344,143
Other Non-Cash Activities Included in the Determination of
Net Income *............................................. (10,990) (183,329) (405,265) (421,022)
Net Change in Operating Assets and Liabilities............. (4,941) 38,191 22,582 (63,498)
--------------------------------------------------
Net Cash (Used in) Provided by Operating Activities........ (4,507) 288,381 218,466 177,571
Capital Expenditures....................................... (370,110) (611,167) (55,001) (131,917)
Net Proceeds from Sale of Equipment........................ 46,586
Increase in Organization Costs and Deferred Expenses....... (24,600) (40,332) (9,442) (27,064)
--------------------------------------------------
Net Cash Used in Investing Activities...................... (394,710) (651,499) (64,443) (112,395)
Partners' Contributions.................................... 1,001,000
Offering Costs............................................. (60,400)
Distributions to Partners.................................. (2,989) (121,212) (121,212) (121,212)
--------------------------------------------------
Net Cash Provided by (Used in) Financing Activities........ 937,611 (121,212) (121,212) (121,212)
Net Increase (Decrease) in Cash............................ 538,394 (484,330) 32,811 (56,036)
Cash at Beginning of Year.................................. -- 538,394 54,064 86,875
--------------------------------------------------
Cash at End of Year........................................ 538,394 54,064 86,875 30,839
--------------------------------------------------
--------------------------------------------------
Investment Data Per $1,000 Investment
Net Income--GAAP Basis..................................... 5 52 49 (377)
Federal Taxable Income to Investors........................ 8 61 20 (279)
Cash Distributions to Investors--GAAP Basis................ (3) (120) (120) (120)
Return of Capital to Investors--GAAP Basis................. 2 68 72 72
</TABLE>
- ------------------------
*The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment is financed. The increase over the periods presented
was caused primarily by the acquisition of more financed equipment.
** Partnership commenced operations on 12/23/93
<PAGE>
COMMONWEALTH INCOME & GROWTH FUND I
OPERATING RESULTS OF PRIOR PROGRAMS
(Table III)
Program Inception to December 31, 1996
<TABLE>
<CAPTION>
1994 1995 1996
-----------------------------------------------------
<S> <C> <C> <C>
Computation of Net Income
Months of Operations.................................................. **10 12 12
Gross Revenues........................................................ 1,223,900 4,317,522 5,955,142
Less: Operating Expenses.............................................. 71,556 93,265 80,883
Equipment Management Fee........................................ 56,473 207,230 295,420
Interest........................................................ 48,184 212,365 311,247
Loss on Sale of Equipment....................................... 691,808
Depreciation and Amortization................................... 952,640 3,849,897 5,895,531
---------------------------------------------------
Net Income (Loss)--GAAP Basis......................................... 95,047 (45,235) (1,319,747)
---------------------------------------------------
---------------------------------------------------
Federal Taxable Income (Loss)......................................... 363,865 326,931 (1,726,506)
Cash Distributions--GAAP Basis........................................ (443,614) (1,195,585) (1,275,467)
Computation of Cash Flows
Net Income (Loss)..................................................... 95,047 (45,235) (1,319,747)
Adjustments to Reconcile Net Income (Loss) to Net Cash
Provided by Operating Activities:
Depreciation and Amortization................................... 952,640 3,849,897 5,895,531
Loss on Sale of Equipment....................................... 691,808
Other Non-Cash Activities Included
in the Determination of Net Income (Loss)*..................... (633,035) (1,514,550) (2,689,616)
Net Change in Operating Assets and Liabilities.................. (204,290) 121,072 (52,325)
---------------------------------------------------
Net Cash Provided by Operating Activities............................. 210,362 2,411,184 2,525,651
Capital Expenditures.................................................. (4,783,921) (6,353,404) (1,035,293)
Accounts Payable-- Commonwealth Capital Corp.......................... (22,222)
Net Proceeds from Sale of Equipment................................... 748,241
Payment of Equipment Payable.......................................... (9,624)
Equipment Acquisition Fees Paid to the General Partner................ (282,368) (403,549) (156,616)
---------------------------------------------------
Net Cash Used in Investing Activities................................. (5,066,289) (6,756,953) (475,514)
Partners' Contributions............................................... 8,271,511 4,352,171 --
Offering Costs........................................................ (932,803) (459,421) --
Debt Placement Fees................................................... (20,305) (29,920) (33,713)
Distributions to Partners............................................. (443,614) (1,195,585) (1,275,467)
---------------------------------------------------
Net Cash Provided by (Used in) Financing Activities................... 6,874,789 2,667,245 (1,309,180)
Net Increase (Decrease) in Cash....................................... 2,018,862 (1,678,524) 740,957
Cash at Beginning of Year............................................. 1,500 2,020,362 341,838
---------------------------------------------------
Cash at End of Year................................................... 2,020,362 341,838 1,082,795
---------------------------------------------------
---------------------------------------------------
Investment Data Per $1,000 Investment
Net Income (Loss)--GAAP Basis......................................... 11 (4) (105)
Federal Taxable Income to Investors................................... 42 27 (138)
Cash Distributions to Investors--GAAP Basis........................... (53) (94) (100)
Return of Capital to Investors--GAAP Basis............................ 42 94 94
</TABLE>
- ------------------------
*The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment is financed. The increase over the periods presented
was caused primarily by the acquisition of more financed equipment.
**Partnership commenced operations on 3/14/94
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND--IV, L.P.
OPERATING RESULTS OF PRIOR PROGRAMS
(Table III)
Program Inception to December 31, 1996
<TABLE>
<CAPTION>
1995 1996
-------------------------------------------------
<S> <C> <C>
Computation of Net Income
Months of Operations....................................... ** 6 12
Gross Revenues............................................. 168,862 566,819
Less: Operating Expenses................................... 10,818 12,115
Equipment Management Fee............................. 7,432 27,759
Interest............................................. 3,850 29,704
Depreciation and Amortization........................ 145,570 518,281
--------------------------------------------------
Net Income (Loss)--GAAP Basis.............................. 1,192 (21,040)
--------------------------------------------------
--------------------------------------------------
Federal Taxable Income..................................... 30,850 86,491
Cash Distributions--GAAP Basis............................. (98,829) (187,879)
Computation of Cash Flows
Net Income (Loss).......................................... 1,192 (21,040)
Adjustments to Reconcile Net Income (Loss) to Net
Cash Provided by Operating Activities:
Depreciation and Amortization........................ 145,570 518,281
Gain on Sale of Equipment............................ (5,301)
Other Non-Cash Activities Included in the
Determination of Net Income *....................... (41,201) (186,248)
Net Change in Operating Assets and
Liabilities......................................... (141,072) 166,935
--------------------------------------------------
Net Cash Provided by (Used in) Operating Activities........ (35,511) 472,627
Capital Expenditures....................................... (1,243,766) (147,878)
Net Proceeds from Sale of Equipment........................ 25,322
Increase in Organization Costs and Deferred
Expenses.................................................. (41,841) (34,289)
Payment of Equipment Payable............................... (125,392)
--------------------------------------------------
Net Cash Used in Investing Activities...................... (1,285,607) (282,237)
Partners' Contributions.................................... 1,551,000 --
Offering Costs............................................. (95,820) --
Distributions to Partners.................................. (98,829) (187,879)
--------------------------------------------------
Net Cash Provided by (Used in) Financing
Activities................................................ 1,356,351 (187,879)
Net Increase in Cash....................................... 35,233 2,511
Cash at Beginning of Year.................................. -- 35,233
--------------------------------------------------
Cash at End of Year........................................ 35,233 37,744
--------------------------------------------------
--------------------------------------------------
Investment Data Per $1,000 Investment
Net Income--GAAP Basis..................................... 0.77 (13.57)
Federal Taxable Income to Investors........................ 20 60
Cash Distributions to Investors--GAAP
Basis..................................................... (63) (120)
Return of Capital to Investors--GAAP Basis................. 62 120
</TABLE>
- ------------------------
*The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment is financed. The increase over the periods presented
was caused primarily by the acquisition of more financed equipment.
**Partnership commenced operations on 6/23/95
<PAGE>
COMMONWEALTH INCOME & GROWTH FUND II
OPERATING RESULTS OF PRIOR PROGRAMS
(Table III)
Program Inception to December 31, 1996
<TABLE>
<CAPTION>
1995 1996
------------- ------------
<S> <C> <C>
Computation of Net Income
Months of Operations........................ **3 12
Gross Revenues.............................. 123,878 1,194,114
Less: Operating Expenses.................... 23,059 56,707
Equipment Management Fee.............. 4,927 56,184
Depreciation and Amortization......... 107,957 1,081,953
--------- ----------
Net Loss -GAAP Basis........................ (12,065) (730)
--------- ----------
--------- ----------
Federal Taxable Income...................... 25,505 257,899
Cash Distributions--GAAP Basis.............. (84,642) (608,045)
Computation of Cash Flows
Net Loss.................................... (12,065) (730)
Adjustments to Reconcile Net Loss to Net
Cash Provided by Operating Activities:
Depreciation and Amortization......... 107,957 1,081,953
Other Non-Cash Activities Included in
the Determination of Net Loss*...... (4,290)
Net Change in Operating Assets and
Liabilities............................... (39,441) (127,550)
--------- ----------
Net Cash Provided by Operating Activities... 56,451 949,383
Capital Expenditures........................ (2,850,156) (1,777,488)
Equipment Acquisition Fees Paid to the
General Partner........................... (123,105) (147,448)
--------- ----------
Net Cash Used in Investing Activities....... (2,973,261) (1,924,936)
Partners' Contributions..................... 3,678,960 4,371,440
Offering Costs.............................. (425,732) (487,266)
Distributions to Partners................... (84,642) (608,045)
--------- ----------
Net Cash Provided by Financing Activities... 3,168,586 3,276,129
Net Increase in Cash........................ 251,776 2,300,576
Cash at Beginning of Year................... -- 251,776
--------- ----------
Cash at End of Year......................... 251,776 2,552,352
--------- ----------
--------- ----------
Investment Data Per $1,000 Investment
Net Loss--GAAP Basis........................ (3) (0)
Federal Taxable Income to Investors......... 7 74
Cash Distributions to Investors--GAAP
Basis..................................... (23) (164)
Return of Capital to Investors--GAAP
Basis..................................... 23 23
</TABLE>
- ------------------------
* The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment in financed. The increase over the periods presented
was caused primarily by the acquisition of more financed equipment.
<PAGE>
** Partnership commenced operations on 9/22/95
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND--V, L.P.
OPERATING RESULTS OF PRIOR PROGRAMS
(Table III) Program Inception to December 31, 1996
<TABLE>
<CAPTION>
1995 1996
-------- ----------
<S> <C> <C>
Computation of Net Income
Months of Operations......................... ** 3 12
Gross Revenues............................... 42,461 357,457
Less: Operating Expenses..................... 7,040 12,843
Equipment Management Fee..................... 1,697 17,285
Interest Expense............................. 10,160
Depreciation and Amortization................ 32,267 285,983
-------- ---------
Net Income -GAAP Basis............................. 1,457 31,186
-------- ---------
-------- ---------
Federal Taxable Income....................... 13,806 139,400
Cash Distributions--GAAP Basis............... (31,548) (121,212)
Computation of Cash Flows
Net Income................................... 1,457 31,186
Adjustments to Reconcile Net Income to Net
Cash Provided by Operating Activities:
Depreciation and Amortization................ 32,267 285,983
Other Non-Cash Activities Included in the
Determination of Net Income *.............. (1,510) (82,739)
Net Change in Operating Assets and
Liabilities................................ (3,419) 27,732
-------- ---------
Net Cash Provided by Operating Activities.......... 28,795 262,162
Capital Expenditures......................... (556,175) (340,144)
Payment of Equipment Payable................. (73,086)
Increase in Organization Costs and Deferred
Expenses................................... (24,600) (12,177)
-------- ---------
Net Cash Used in Investing Activities........ (580,775) (425,407)
Partners' Contributions...................... 1,001,000 --
Offering Costs............................... (60,400) --
Distributions to Partners.................... (31,548) (121,212)
-------- ---------
Net Cash Provided by (Used in) Financing
Activities.................................. 909,052 (121,212)
Net Increase (Decrease) in Cash.............. 357,072 (284,457)
Cash at Beginning of Year.................... -- 357,072
-------- ---------
Cash at End of Year.......................... 357,072 72,615
-------- ---------
-------- ---------
Investment Data Per $1,000 Investment
Net Income--GAAP Basis....................... 1 31
Federal Taxable Income to Investors.......... 11 145
Cash Distributions to Investors--GAAP
Basis...................................... (31) (120)
Return of Capital to Investors--GAAP Basis... 30 30
</TABLE>
- ------------------------
* The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment is financed. The
increase over the periods presented was caused primarily by the acquisition
of more financed equipment.
** Partnership commenced operations on 9/28/95
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND--VI L.P.
OPERATING RESULTS OF PRIOR PROGRAMS
(Table III)
Program Inception to December 31, 1996
<TABLE>
<CAPTION>
1996
---------
<S> <C>
Computation of Net Income
Months of Operations...................... ** 3
Gross Revenues............................ 16,391
Less: Operating Expenses 6,507
Equipment Management Fee.................. 221
Depreciation and Amortization............. 8,550
---------
Net Income -GAAP Basis.................... 1,113
---------
---------
Federal Taxable Loss...................... (5,969)
Cash Distributions--GAAP Basis............ (45,455)
Computation of Cash Flows
Net Income................................ 1,113
Adjustments to Reconcile Net Income to Net
Cash Provided by Operating Activities:
Depreciation and Amortization............. 8,550
Other Non-Cash Activities Included in the (7,375)
Determination of Net Income *...........
---------
Net Change in Operating Assets and
Liabilities............................. (3,704)
Net Cash Used in Operating Activities..... (1,416)
Increase in Organization Costs and
Deferred Expenses....................... (35,701)
---------
Net Cash Used in Investing Activities..... (35,701)
Partners' Contributions................... 1,501,000
Offering Costs............................ (85,804)
Distributions to Partners................. (45,455)
---------
Net Cash Provided by Financing
Activities.............................. 1,369,741
Net Increase in Cash...................... 1,332,624
Cash at Beginning of Year................. --
---------
Cash at End of Year....................... 1,332,624
---------
---------
Investment Data Per $1,000 Investment
Net Income--GAAP Basis.................... 1
Federal Taxable Income to Investors....... 7
Cash Distributions to Investors-- GAAP
Basis................................... (45)
Return of Capital to Investors-- GAAP
Basis................................... 30
</TABLE>
- ------------------------
* The significant component of Other Non-Cash Activities Included in the
Determination of Net Income was direct payments by lessees to banks, which
occurs when equipment is financed. The increase over the periods presented
was caused primarily by the acquisition of more financed equipment.
** Partnership commenced operations on 9/30/96
<PAGE>
TABLE V
EQUIPMENT SALES
The following table sets forth the sales and other dispositions of equipment
by eight prior private programs and two prior public programs sponsored by the
General Partner and its Affiliates during the most recent three year period
ending December 31, 1996. There were no sales or other dispositions of equipment
in Commonwealth Income & Growth Fund II, Commonwealth Equipment Income Private
Fund V, and Commonwealth Equipment Income Private Fund VI.
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND-II, LIMITED PARTNERSHIP
EQUIPMENT SALES
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE V)
<TABLE>
<CAPTION>
YEAR YEAR
EQUIPMENT OF OF
MANUFACTURER EQUIPMENT TYPE DESCRIPTION ACQUISITION DISPOSAL
- -------------------------------------------------- ------------------------- ------------------------- ----------- --------
<S> <C> <C> <C> <C>
(9) 7012-340, (1)
IBM............................................... 7013-53H Workstation 1992 1994
IBM............................................... (7) 7012-350 Workstation 1992 1995
IBM............................................... (1) 3745-410 Communications controller 1993 1995
EMC............................................... (1) 4480-M20, (1) 4416 Control unit/Disk array 1993 1995
(1) 7690-001, (1)
HDS............................................... 7693-032 Disk storage 1993 1996
<CAPTION>
ORIGINAL NET FEDERAL
ACQUISITION NET BOOK PROCEEDS GAAP TAXABLE
MANUFACTURER COST VALUE RECEIVED NET GAIN/(LOSS) NET GAIN/(LOSS)
- -------------------------------------------------- ----------- -------- -------- --------------- ---------------
<S> <C> <C> <C> <C> <C>
IBM............................................... 215,925 103,464 49,324 (54,140) (92,610)
IBM............................................... 291,395 39,230 31,892 (7,338) (100,908)
IBM............................................... 139,829 76,142 45,000 (31,142) (12,192)
EMC............................................... 227,272 0 12,767 12,767 (77,996)
HDS............................................... 721,119 132,537 10,150 (112,387) (162,946)
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME TRUST VIII
EQUIPMENT SALES
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE V)
<TABLE>
<CAPTION>
YEAR YEAR
EQUIPMENT OF OF
MANUFACTURER EQUIPMENT TYPE DESCRIPTION ACQUISITION DISPOSAL
- -------------------------------------------------- -------------------------- ------------------------- ----------- --------
<S> <C> <C> <C> <C>
IBM............................................... (13) 7235-002 Workstation 1992 1994
IBM............................................... (5) 7012-340 Workstation 1992 1994
IBM............................................... (7) 7012-350 Workstation 1992 1995
Arrow............................................. (5) ST424OON Disk drive 1993 1995
IBM............................................... (1) 7208-011 Tape drive 1993 1995
IBM............................................... (1) 7013-580 Workstation 1993 1995
IBM............................................... (1) 7012-350 Workstation 1992 1995
IBM............................................... (1) 7013-580 Workstation 1993 1995
IBM............................................... (4) 7235-002 Workstation 1992 1995
IBM............................................... (1) 7013-2980 Feature 1993 1995
Sears............................................. HP laser Printer 1993 1995
IBM............................................... (3) 7013-580, (1) 7012-350 Workstation 1993 1995
Wallace........................................... (2) Lasermax Unwinder/folder 1993 1996
EMC............................................... (1/2) 4832-002 Disk array 1993 1996
IBM............................................... (1) 3745-210, (1) 3746-A11 Communications controller 1992 1996
Roll Systems...................................... Roll system Roll-to-fold 1993 1996
IBM............................................... 1993 1996
<CAPTION>
ORIGINAL NET FEDERAL
ACQUISITION NET BOOK PROCEEDS GAAP TAXABLE
MANUFACTURER COST VALUE RECEIVED NET GAIN/(LOSS) NET GAIN/(LOSS)
- -------------------------------------------------- ----------- -------- -------- --------------- ---------------
<S> <C> <C> <C> <C> <C>
IBM............................................... 112,896 51,744 3,492 (48,252) (64,020)
IBM............................................... 172,900 86,450 38,174 (48,276) (66,719)
IBM............................................... 249,800 58,266 34,000 (24,266) (66,607)
Arrow............................................. 11,200 5,696 3,212 (2,484) (1,340)
IBM............................................... 6,016 2,552 1,500 (1,052) (619)
IBM............................................... 67,234 43,788 12,200 (31,588) (14,073)
IBM............................................... 34,054 15,078 5,975 (9,103) (13,684)
IBM............................................... 213,737 61,884 48,957 (12,927) (34,869)
IBM............................................... 50,176 18,586 27,187 8,601 (1,025)
IBM............................................... 1,083 587 750 163 246
Sears............................................. 1,820 897 820 (77) 94
IBM............................................... 199,872 92,877 103,388 10,511 31,263
Wallace........................................... 167,250 45,312 50,000 4,688 (10,961)
EMC............................................... 262,199 4,725 15,000 10,275 (75,832)
IBM............................................... 217,900 16,349 52,000 35,651 (11,585)
Roll Systems...................................... 495,000 31,841 56,000 24,159 (73,222)
IBM............................................... 320,282 63,703 80,200 16,497 (35,247)
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME TRUST IX
EQUIPMENT SALES
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE V)
<TABLE>
<CAPTION>
YEAR YEAR
EQUIPMENT OF OF
MANUFACTURER EQUIPMENT TYPE DESCRIPTION ACQUISITION DISPOSAL
- -------------------------------------------------- -------------------------- ------------------------- ----------- --------
<S> <C> <C> <C> <C>
IBM............................................... (1) 7013-530 Workstation 1993 1994
IBM............................................... (2) 7013-550 Workstation 1993 1994
EMC............................................... (1/2) 4832-002 Workstation 1993 1994
IBM............................................... (1) 7013-530 Workstation 1993 1995
IBM............................................... (1) 7013-550 Workstation 1993 1995
IBM............................................... (1) 7013-530 Workstation 1993 1995
IBM............................................... (1) 7012-355 Workstation 1993 1995
Roll Systems...................................... Roll system Roll-to-fold 1993 1995
IBM............................................... (1) 3745-310, (1) 3746-A11 Communications controller 1993 1996
IBM............................................... (1) 7013-550 Workstation 1993 1996
IBM............................................... (1) 7013-560 Workstation 1993 1996
EMC............................................... (1) 4832-002 Disk array 1993 1996
Disk array/Stg.
(1) 7690-001, (1) 7693-016 controller
HDS............................................... (1) 7693-032 Disk storage 1993 1996
<CAPTION>
ORIGINAL NET FEDERAL
ACQUISITION NET BOOK PROCEEDS GAAP TAXABLE
MANUFACTURER COST VALUE RECEIVED NET GAIN/(LOSS) NET GAIN/(LOSS)
- -------------------------------------------------- ----------- -------- -------- --------------- ---------------
<S> <C> <C> <C> <C> <C>
IBM............................................... 39,318 24,832 11,400 (13,432) (14,770)
IBM............................................... 88,941 24,535 12,350 (12,185) (46,849)
EMC............................................... 310,578 176,465 88,800 (87,665) (117,921)
IBM............................................... 30,133 4,252 3,200 (1,052) (8,930)
IBM............................................... 63,281 11,095 10,800 (295) (14,796)
IBM............................................... 51,876 6,548 5,200 (1,348) (15,778)
IBM............................................... 51,951 22,198 18,400 (3,798) (2,899)
Roll Systems...................................... 459,690 206,428 177,137 (29,291) (11,759)
IBM............................................... 597,806 156,514 252,000 95,486 97,950
IBM............................................... 70,863 253 8,440 8,187 (16,369)
IBM............................................... 121,910 14,467 9,705 (4,762) (32,832)
EMC............................................... 524,398 255 8,500 8,245 (173,474)
HDS............................................... 819,900 119,443 14,250 (105,193) (270,297)
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME TRUST X
EQUIPMENT SALES
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE V)
<TABLE>
<CAPTION>
YEAR YEAR ORIGINAL NET
EQUIPMENT OF OF ACQUISITION NET BOOK PROCEEDS
MANUFACTURER EQUIPMENT TYPE DESCRIPTION ACQUISITION DISPOSAL COST VALUE RECEIVED
- -------------- --------------------------- -------------------- ------------- ----------- ----------- ----------- -----------
<C> <S> <C> <C> <C> <C> <C> <C>
EMC........... (1) 4824-003 Disk array 1993 1995 472,770 224,041 81,000
EMC........... (1) 4832-002 Disk array 1993 1995 455,000 153,352 62,500
Roll Systems.. Roll system Roll-to-fold 1993 1995 209,317 68,585 66,132
Roll Systems.. Roll system Roll-to-fold 1993 1995 143,685 44,748 33,921
PYR........... (50%) 85860E Controller 1994 1996 295,000 116,680 1,750
IBM........... (12) 7012-350 Workstation 1993 1996 424,027 57,108 28,107
IBM........... (5) 9032-002 Escon director 1994 1996 514,390 153,942 168,000
SUN........... (50%) SUNSPARC 2000 Enterprise server 1994 1996 241,873 50,449 32,500
HDS........... (1) 7690-001, 7693-032 Disk storage 1993 1996 583,600 97,582 10,500
EMC........... (50%) 4832-003 Disk array 1993 1996 326,718 52,733 12,500
<CAPTION>
FEDERAL
GAAP TAXABLE
MANUFACTURER NET GAIN/(LOSS) NET GAIN/(LOSS)
- -------------- --------------- ---------------
<C> <C> <C>
EMC........... (143,041) (216,439)
EMC........... (90,852) (223,295)
Roll Systems.. (2,453) (66,466)
Roll Systems.. (10,827) (56,757)
PYR........... (114,930) (153,467)
IBM........... (29,001) (149,132)
IBM........... 14,058 (107,599)
SUN........... (17,949) (95,695)
HDS........... (87,082) (232,592)
EMC........... (40,233) (123,790)
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND III
EQUIPMENT SALES
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE V)
<TABLE>
<CAPTION>
YEAR YEAR ORIGINAL NET
EQUIPMENT OF OF ACQUISITION NET BOOK PROCEEDS
MANUFACTURER EQUIPMENT TYPE DESCRIPTION ACQUISITION DISPOSAL COST VALUE RECEIVED
- --------------- --------------------------- ------------------- ------------- ----------- ----------- ----------- -----------
<C> <S> <C> <C> <C> <C> <C> <C>
PYR............ (50%) 85860E Controller 1994 1996 295,000 116,680 1,750
SUN............ (50%) SUNSPARC 2000 Enterprise server 1994 1996 241,873 50,449 32,500
HDS............ (8) 7693 HDU Group Disk array 1993 1996 381,100 84,045 7,500
1994 1996 427,600 140,995 6,276
<CAPTION>
FEDERAL
GAAP TAXABLE
MANUFACTURER NET GAIN/(LOSS) NET GAIN/(LOSS)
- --------------- --------------- ---------------
<C> <C> <C>
PYR............ (114,930) (153,369)
SUN............ (17,949) (90,802)
HDS............ (76,545) (217,276)
(134,719) (217,840)
</TABLE>
<PAGE>
COMMONWEALTH INCOME & GROWTH FUND I
EQUIPMENT SALES
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE V)
<TABLE>
<CAPTION>
YEAR YEAR ORIGINAL
EQUIPMENT OF OF ACQUISITION NET BOOK
MANUFACTURER EQUIPMENT TYPE DESCRIPTION ACQUISITION DISPOSAL COST VALUE
- ------------------ -------------------------------- -------------------- ------------- ----------- ----------- -----------
<C> <S> <C> <C> <C> <C> <C>
HDS............... (2) 7693-032, (1) 7390-B3C, Disk storage 1994 1996 1,045,093 256,606
(1) 7690-128 Disk array
IBM............... (8) 9032-002 Escon director 1994 1996 878,580 269,326
HDS............... (1) 7693-032 Disk storage 1994 1996 446,171 76,331
HDS............... UPGRD (1) 7693-008 TO 032 Disk array 1994 1996 268,526 53,804
IBM............... (2) 3390-A38, (4) 3390-B3C Storage controller 1995 1996 537,585 269,099
Silicon Graphics.. (80) Indigo 2XZ Workstation 1995 1996 912,710 549,004
<CAPTION>
NET FEDERAL
PROCEEDS GAAP TAXABLE
MANUFACTURER RECEIVED NET GAIN/(LOSS) NET GAIN/(LOSS)
- ------------------ ----------- --------------- ---------------
<C> <C> <C> <C>
HDS............... 245,500 (11,106) (418,833)
IBM............... 306,000 36,674 (263,356)
HDS............... 7,650 (68,681) (270,989)
HDS............... 2,625 (51,179) (165,014)
IBM............... 10,224 (258,875) (394,025)
Silicon Graphics.. 210,363 (338,641) (481,758)
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND IV, LP
EQUIPMENT SALES
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE V)
<TABLE>
<CAPTION>
YEAR YEAR ORIGINAL NET
EQUIPMENT OF OF ACQUISITION NET BOOK PROCEEDS GAAP
MANUFACTURER EQUIPMENT TYPE DESCRIPTION ACQUISITION DISPOSAL COST VALUE RECEIVED NET GAIN/(LOSS)
- --------------- --------------- ----------- ------------- ----------- ----------- ----------- ----------- ---------------
<C> <S> <C> <C> <C> <C> <C> <C> <C>
IBM............ (17) 4230-202 Printer 1995 1996 34,323 21,355 26,656 5,301
<CAPTION>
FEDERAL
TAXABLE
MANUFACTURER NET GAIN/(LOSS)
- --------------- ---------------
<C> <C>
IBM............ 1,937
</TABLE>
<PAGE>
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
TABLE VI - ACQUISITION OF EQUIPMENT BY PRIOR PROGRAMS
The following table sets forth acquisition of equipment by eight prior
private programs and two prior public programs sponsored by the General Partner
and its Affiliates during the most recent three year period ending December 31,
1996.
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND II, LIMITED PARTNERSHIP
SUMMARY OF EQUIPMENT ACQUISITIONS
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE VI)
<TABLE>
<CAPTION>
YEAR
OF
MANUFACTURER EQUIPMENT TYPE EQUIPMENT DESCRIPTION ACQUISITION
- ---------------------------------------- ------------------------------ ---------------------------------------- -------------
<S> <C> <C> <C>
IBM..................................... (1) 3390-A38 Disk Storage 1994
IBM..................................... (1) 3390-B9C, (1) 3390-A98 Disk Storage 1994
IBM..................................... (5) 7011-25T Workstation 1995
<CAPTION>
TOTAL
RENT IN DEBT OBLIGATIONS EQUIPMENT
MANUFACTURER CASH LIEU ASSUMED INCURRED COST
- ---------------------------------------- --------- --------- --------- ----------------- -----------
<S> <C> <C> <C> <C> <C>
IBM..................................... 86,652 14,285 0 0 100,937
IBM..................................... 92,903 0 363,387 0 456,290
IBM..................................... 62,898 0 0 0 62,898
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME TRUST VIII, LIMITED PARTNERSHIP
SUMMARY OF EQUIPMENT ACQUISITIONS
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE VI)
<TABLE>
<CAPTION>
YEAR
OF
MANUFACTURER EQUIPMENT TYPE EQUIPMENT DESCRIPTION ACQUISITION
- ---------------------------------- ----------------------------------------- ---------------------------------- -------------
<S> <C> <C> <C>
HDS............................... (1/4) 7690, (1/4) 7693-32 Disk Array/Stg. Controller 1994
IBM............................... upgrade Communication Controller 1994
IBM............................... (2) 7013-590 Workstation 1994
IBM............................... (2) 3995-153, (2) 3995-113, (58) 7344 Optical Storage 1994
SUN............................... (31) Sun--Workstations Workstation 1994
STK............................... (1) 9490-M34 Tape Drive 1995
SUN............................... (2) Sunsparc 1000 Departmental Server 1995
SUN............................... (10) Sunsparc 20 Workstation 1995
HP................................ (50%) (9) HP9000--J200 Workstation 1995
PYR............................... (50%): (2) NILE 100 Departmental Server 1996
STK............................... (25%): (20) 9490-M32 Tape Drive 1996
Silicon Graphics.................. (33%): (1) 4XR10000, (4) WB- TWO250H14 Enterprise Server 1996
<CAPTION>
TOTAL
RENT IN DEBT OBLIGATIONS EQUIPMENT
MANUFACTURER CASH LIEU ASSUMED INCURRED COST
- ---------------------------------- --------- --------- --------- ----------------- -----------
<S> <C> <C> <C> <C> <C>
HDS............................... 28,075 0 122,050 0 150,125
IBM............................... 75,816 0 0 0 75,816
IBM............................... 85,206 22,722 0 0 107,928
IBM............................... 70,578 0 399,057 0 469,635
SUN............................... 54,000 0 193,877 0 247,877
STK............................... 65,000 0 298,004 0 363,004
SUN............................... 17,820 0 116,574 0 134,394
SUN............................... 34,180 0 37,494 0 71,674
HP................................ 22,222 0 135,412 0 157,634
PYR............................... 35,250 0 354,540 0 389,790
STK............................... 129,237 0 260,601 0 389,838
Silicon Graphics.................. 51,148 0 246,945 0 298,093
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME TRUST IX, LIMITED PARTNERSHIP
SUMMARY OF EQUIPMENT ACQUISITIONS
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE VI)
<TABLE>
<CAPTION>
YEAR
OF
MANUFACTURER EQUIPMENT TYPE EQUIPMENT DESCRIPTION ACQUISITION
- ---------------------------- ---------------------------------------------------- ---------------------------- -------------
<S> <C> <C> <C>
HDS......................... (1/4) 7690, (1/4) 7693-32 Disk Array/Stg. Controller 1994
SUN......................... (2) Sunsparc 20, (2) Sunsparc 1000 Workstation/Dept. Server 1994
IBM......................... (2) 3995-153, (2) 3995-113, (58) 7344 Optical Storage 1994
PYR......................... (1/2) NS100-CL File server 1994
SUN......................... (31) Sun--Workstations Workstation 1994
STK......................... (1/4) 9200-XJ3, 9210-A21, 9210-B11, 9210-C21 Disk Array 1995
PYR......................... (50%) NILE R4400--DPU Enterprise Server 1995
IBM......................... (20%): (2) 3745-31A, 3746-900 Communication Controller 1996
STK......................... (25%): (20) 9490-M32 Tape Drive 1996
STK......................... (15%): (20) 9490-M32 Tape Drive 1996
Silicon Graphics............ (33%): (1) 4XR10000, (4) WB-TWO250H14 Enterprise Server 1996
<CAPTION>
TOTAL
RENT IN DEBT OBLIGATIONS EQUIPMENT
MANUFACTURER CASH LIEU ASSUMED INCURRED COST
- ---------------------------- --------- ------------- --------- ----------------- -----------
<S> <C> <C> <C> <C> <C>
HDS......................... 28,075 0 122,050 0 150,125
SUN......................... 19,543 0 140,289 0 159,832
IBM......................... 70,577 0 399,057 0 469,634
PYR......................... 35,000 0 261,709 0 296,709
SUN......................... 54,000 0 193,877 0 247,877
STK......................... 56,250 0 157,332 0 213,582
PYR......................... 10,000 0 88,489 0 98,489
IBM......................... 64,986 0 119,397 0 184,383
STK......................... 129,237 0 260,601 0 389,838
STK......................... 68,650 0 166,006 0 234,656
Silicon Graphics............ 51,148 0 246,945 0 298,093
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME TRUST X, LIMITED PARTNERSHIP
SUMMARY OF EQUIPMENT ACQUISITIONS
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31 1996
(TABLE VI)
<TABLE>
<CAPTION>
YEAR
OF RENT IN
MANUFACTURER EQUIPMENT TYPE EQUIPMENT DESCRIPTION ACQUISITION CASH LIEU
- ----------- ---------------------------------------------- ------------------------------- ------------- --------- ---------
<S> <C> <C> <C> <C> <C>
HDS... (1) 7693-032 Disk Array 1994 92,630 0
IBM... (2) 3745-310 Communication Controller 1994 42,302 0
EMC... (1/4) EMC 5500-3064 Disk Array 1994 48,966 0
PYR... (1/2) Pyramid 85860E File Server 1994 295,000 0
SUN... (1/2) Sunsparc 2000 Enterprise Server 1994 41,183 0
IBM... (2) 3490-B40 Tape Drive 1994 129,834 16,360
IBM... (1) 3390-B3C, (1)3390-A98, (1) 3990-006 Disk Storage/Stg. Controller 1994 426,491 70,290
IBM... (5) 9032-002 Escon Director 1994 157,681 0
IBM... (2) 3995-153, (1) 3995-113, (44) 7344 Optical Storage 1994 57,600 0
STK... (1) 9490-M34 Tape Drive 1995 35,000 0
STK... (1) 9200-XN3, 6172, 9220-A42, 9220-B42 Disk Array 1995 221,843 0
PYR... (50%) (1) RM600 Enterprise Server 1995 0 49,915
IBM... (20%): (2) 3745-31A, 3746-900 Communication Controller 1996 64,986 5,254
STK... (15%): (20) 9490-M32 Tape Drive 1996 68,650 0
STK... (25%): (7) 9490-M34 Tape Drive 1996 0 7,375
<CAPTION>
TOTAL
DEBT OBLIGATIONS EQUIPMENT
MANUFACTURER ASSUMED INCURRED COST
- ------------ --------- ----------- -----------
<S> <C> <C> <C>
HDS... 361,744 0 454,374
IBM... 536,692 0 578,994
EMC... 233,177 0 282,143
PYR... 0 0 295,000
SUN... 200,690 0 241,873
IBM... 0 0 146,194
IBM... 0 0 496,781
IBM... 356,709 0 514,390
IBM... 325,888 0 383,488
STK... 158,175 0 193,175
STK... 590,574 0 812,417
PYR... 537,254 0 587,169
IBM... 114,143 0 184,383
STK... 166,006 0 234,656
STK... 0 264,561 271,936
</TABLE>
<PAGE>
Commonwealth Equipment Income Private Fund III, Limited Partnership
Summary of Equipment Acquisitions
For the three year period ended December 31, 1996
(Table VI)
<TABLE>
<CAPTION>
YEAR
OF RENT IN DEBT
MANUFACTURER EQUIPMENT TYPE EQUIPMENT DESCRIPTION ACQUISITION CASH LIEU ASSUMED
- ----------- -------------------------------- ------------------------------ ------------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
HDS... (8) 7693-HDU Disk Array 1994 370,110 10,990 0
EMC... (1/4) 5500-3064 Disk Array 1994 48,965 0 233,177
SUN... (1/2) Suncparc 2000 Enterprise Server 1994 41,183 0 200,690
PYR... (1/2) Pyramid 85860E File Server 1994 295,000 0 0
IBM... (1/2) 3990-006 Storage Controller 1994 91,102 11,648 0
IBM... (1) 3490-B40 Tape Drive 1994 64,917 8,180 0
IBM... (1) 3990-A38, (2) 3390-B3C Disk Storage 1994 70,000 0 357,600
IBM... (1) 3900-001 Printer 1995 55,000 0 149,885
IBM... (20%): (2) 3745-31A, 3746-900 Communication Controller 1996 64,986 0 119,397
STK... (10%): (20) 9490-M32 Tape Drive 1996 45,767 0 110,681
HP.... (50%): (2) HP9000-K420 Departmental Server 1996 21,164 0 134,156
<CAPTION>
TOTAL
OBLIGATIONS EQUIPMENT
MANUFACTURER INCURRED COST
- ------------ ----------------- -----------
<S> <C> <C>
HDS... 0 381,100
EMC... 0 282,142
SUN... 0 241,873
PYR... 0 295,000
IBM... 0 102,750
IBM... 0 73,097
IBM... 0 427,600
IBM... 0 204,885
IBM... 0 184,383
STK... 0 156,448
HP.... 0 155,320
</TABLE>
<PAGE>
Commonwealth Income & Growth Fund I
Summary of Equipment Acquisitions
For the three year period ended December 31, 1996
(Table VI)
<TABLE>
<CAPTION>
YEAR
OF
MANUFACTURER EQUIPMENT TYPE EQUIPMENT DESCRIPTION ACQUISITION
- -------------------------- --------------------------------------------------- ------------------------------ -------------
<S> <C> <C> <C>
HDS.................. (2) 7693-032, (1) 7390-B3C, (1) 7690-128 Dsk Arry/Stg Cont/Dsk Stg 1994
EMC.................. (1/2) 5500-3064 Disk Array 1994
HDS.................. upgrade (1) 7693-8 to 32 Disk Array 1994
HDS.................. (1) 7693-032 Disk Array 1994
HDS.................. (2) 7693-032 Disk Array 1994
IBM.................. (1) 3390-B3C, (1) 3390-B9C Disk Storage 1994
IBM.................. (1/2) 3990-006 Storage Controller 1994
IBM.................. (3) 3490-A20, (1) 3490-B40 Tape Drive 1994
SUN.................. (17) Sunsparc 1000 Dept. Server 1994
IBM.................. (8) 9032-002 Escon Director 1994
SUN.................. (1) Sunsparc 1000 Departmental Server 1994
IBM.................. (80%) (1) 9200-XJ3 Disk Array 1994
HDS.................. (1) 7693-032 Disk Array 1994
IBM.................. (1) 9391-A10 (16) 9392-B13 Disk Array 1994
SUN.................. (4) Sunsparc 2000 Enterprise Server 1995
STK.................. (1/4) 9200-XJ3, 9210-A21, 9210-B11, 9210-C21 Disk Array 1995
STK.................. (2) 9200-XJ3, 9210-A21 Disk Array 1995
SUN.................. (32) Sunsparc 1000 Departmental Server 1995
STK.................. (8) 9490-M34 Tape Drive 1995
IBM.................. (2) 9391-A10, (32) 9392-B13 Disk Array 1995
IBM.................. (2) 3829-001 Printer 1995
IBM / Roll Systems, Inc... (50%) 3900-DW1, Roll to Fold Printer & Roll to Fold 1995
SIEMENS.............. (2) 2240-004 Printer 1995
SUN.................. (3) Upgr. to Sunsparc 1000 Departmental Server 1995
STK.................. (1) 9200-XN3, 6172, 9220-A42 Disk Array 1995
SGI.................. (80) Indigo 2XZ Workstation 1995
EMC.................. (1/2) 3200-9024, 3200-9016 Disk Array 1995
STK.................. (1) 9200-XN3, 9210-A21, 9210-C21 Disk Array 1995
IBM.................. (375) 4230-5S3 Printer 1995
IBM.................. (2) 3390-A38, (4) 3390-B3C Disk Storager 1995
HP................... (50%) (9) HP9000-J200 Communication Controller 1995
STK.................. (2) 4490-M30, (1) 4490-M34, (3) 9490-M34 Tape Drive 1995
PYR.................. (50%) (1) RM600 Enterprise Server 1995
STK.................. (50%) (20) 9490-M32 Tape Drive 1996
IBM.................. (20%) (2) 3745-31A Communication Controller 1996
SGI.................. (33%) (1) 4XR10000 Enterprise Server 1996
STK.................. (45%) (20) 9490-M32 Tape Drive 1996
HP................... (18) HP9000-C110, (1) HP9000-D250 Workstation 1996
LEX.................. (80) N240, (4) OPTRA C, (10) OPTRA RT Laser Printer 1996
PYR.................. (1) 3445-1210 Tape Library 1996
IBM.................. (2) 3995-133, (1) 3995-113 Optical Storage 1996
STK.................. (50%) (7) 9490-M34 Tape Drive 1996
<CAPTION>
TOTAL
RENT IN DEBT OBLIGATIONS EQUIPMENT
MANUFACTURER CASH LIEU ASSUMED INCURRED COST
- -------------------------- ---------- --------- ---------- ----------- ----------
<S> <C> <C> <C> <C> <C>
HDS.................. 985,358 59,735 0 0 1,045,093
EMC.................. 97,931 0 466,354 0 564,285
HDS.................. 268,526 0 0 0 268,526
HDS.................. 82,200 0 363,971 0 446,171
HDS.................. 620,099 72,200 0 0 692,299
IBM.................. 399,561 65,845 0 0 465,406
IBM.................. 91,098 11,652 0 0 102,750
IBM.................. 337,202 42,480 0 0 379,682
SUN.................. 153,776 0 0 0 153,776
IBM.................. 269,319 0 609,261 0 878,580
SUN.................. 158,072 0 0 0 158,072
IBM.................. 1,216,040 0 0 0 1,216,040
HDS.................. 49,909 0 318,518 0 368,427
IBM.................. 54,831 0 265,269 0 320,100
SUN.................. 305,875 0 0 0 305,875
STK.................. 56,250 0 157,332 0 213,582
STK.................. 1,144,304 0 0 0 1,144,304
SUN.................. 277,705 0 0 0 277,705
STK.................. 260,000 0 1,192,140 0 1,452,140
IBM.................. 600,000 0 0 0 600,000
IBM.................. 72,117 0 198,956 0 271,073
IBM / Roll Systems, Inc... 343,010 0 0 0 343,010
SIEMENS.............. 459,592 0 0 0 459,592
SUN.................. 52,731 0 0 0 52,731
STK.................. 582,671 0 0 0 582,671
SGI.................. 163,000 0 749,710 0 912,710
EMC.................. 293,506 0 0 0 293,506
STK.................. 57,601 0 179,039 0 236,640
IBM.................. 1,064,930 0 0 0 1,064,930
IBM.................. 130,000 0 515,102 0 645,102
HP................... 22,222 0 135,412 0 157,634
STK.................. 490,110 0 0 0 490,110
PYR.................. 9,639 49,916 529,732 0 589,287
STK.................. 258,473 0 521,203 0 779,676
IBM.................. 64,986 0 119,397 0 184,383
SGI.................. 51,148 0 246,946 0 298,094
STK.................. 205,951 0 498,018 0 703,969
HP................... 61,110 0 349,965 0 411,075
LEX.................. 117,090 0 380,387 0 497,477
PYR.................. 216,419 0 0 0 216,419
IBM.................. 60,105 0 226,431 0 286,536
STK.................. 0 14,749 0 529,124 543,873
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND IV, LIMITED PARTNERSHIP
SUMMARY OF EQUIPMENT ACQUISITIONS
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE VI)
<TABLE>
<CAPTION>
YEAR
EQUIPMENT OF
MANUFACTURER EQUIPMENT TYPE DESCRIPTION ACQUISITION
- ----------------------------- ------------------------------------- ------------------- -------------
<S> <C> <C> <C>
IBM / Roll Sytstems, Inc..... (50%) 3900-DW1, Roll to Fold Printer & Roll to 1995
Fold
SIEMENS...................... (2) 2240-004 Printer 1995
PYR.......................... (26) 7000-0354 Enterprise Server 1995
STK.......................... (1) 9200-XP3, 9220-A22 Disk Array 1995
IBM.......................... (17) 4230-202 Printer 1995
STK.......................... (1) 9200-XN3, 9210-A21, 9210-C21 Disk Array 1995
STK.......................... (50%) (1) 9490-M34, 4412, 3T43, Tape Drive 1995
9300001
STK.......................... (1) 9310-301 to 001 Upgr. Tape Library 1996
STK.......................... (50%) (1) 9490-M34 Tape Drive 1996
PYR.......................... (50%) NILE 100 Departmental Server 1996
STK.......................... (15%) (20) 9490-M32 Tape Drive 1996
HP........................... (17) HP9000-C110 Workstation 1996
<CAPTION>
TOTAL
RENT IN DEBT OBLIGATIONS EQUIPMENT
MANUFACTURER CASH LIEU ASSUMED INCURRED COST
- ----------------------------- ----------- ----------- ------------- ----------- ---------
<S> <C> <C> <C> <C> <C>
IBM / Roll Sytstems, Inc..... 343,010 0 0 0 343,010
SIEMENS...................... 459,592 0 0 0 459,592
PYR.......................... 81,713 0 0 0 81,713
STK.......................... 287,850 0 0 0 287,850
IBM.......................... 14,000 0 20,323 0 34,323
STK.......................... 57,601 0 179,039 0 236,640
STK.......................... 73,086 1,510 0 0 74,596
STK.......................... 0 9,144 0 52,306 61,450
STK.......................... 74,596 0 0 0 74,596
PYR.......................... 35,913 0 132,663 0 168,576
STK.......................... 68,650 0 166,006 0 234,656
HP........................... 43,315 0 268,837 0 312,152
</TABLE>
<PAGE>
COMMONWEALTH INCOME & GROWTH FUND II
SUMMARY OF EQUIPMENT ACQUISITIONS
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE VI)
<TABLE>
<CAPTION>
YEAR
EQUIPMENT OF
MANUFACTURER EQUIPMENT TYPE DESCRIPTION ACQUISITION
- ------------------------ --------------------------------------------- ------------------- -------------
<S> <C> <C> <C>
STK..................... (1) 9200-XN3, (1) 9220-A42, (1) 9220-B22 Disk Array 1995
STK..................... (1) 9200-XN3, (1) 9220-A42 Disk Array 1995
IBM..................... (325) 4230-5S3 Printer 1995
IBM..................... (50) 4028-NS1 Printer 1995
STK..................... (50%) (4) 4490-M30 UPGR, (2) 4490-M34 UPGR Tape Drive 1995
(6) 9490-M34]
STK..................... (1) 4410-001, (2) 4480-M24, (2) 4480-M20, Tape Drive 1996
(1) 9490-M34
IBM..................... (1) 3490-A20, (2) 3490-B40 Tape Drive 1996
STK..................... (3) 9490-M34 Tape Drive 1996
DEC..................... (1) Alpha Server 2100A-5/250 Departmental Server 1996
DEC..................... (1) Alpha Server 2100A-5/250 Departmental Server 1996
HP...................... (13) HP9000-C110 Workstation 1996
SGI..................... (1) Onyx infinite reality ds Departmental Server 1996
<CAPTION>
TOTAL
RENT IN DEBT OBLIGATIONS EQUIPMENT
MANUFACTURER CASH LIEU ASSUMED INCURRED COST
- ------------------------ ----------- --------------- ----------------- ----------- ---------
<S> <C> <C> <C> <C> <C>
STK..................... 787,196 0 0 0 787,196
STK..................... 582,671 0 0 0 582,671
IBM..................... 990,357 0 0 0 990,357
IBM..................... 147,963 0 0 0 147,963
STK..................... 490,110 0 0 0 490,110
STK..................... 383,553 0 0 0 383,553
IBM..................... 174,383 4,290 0 0 178,673
STK..................... 405,628 0 0 0 405,628
DEC..................... 204,781 0 0 0 204,781
DEC..................... 40,928 0 0 0 40,928
HP...................... 304,718 0 0 0 304,718
SGI..................... 263,498 0 0 0 263,498
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND V, LIMITED PARTNERSHIP
SUMMARY OF EQUIPMENT ACQUISITIONS
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE VI)
<TABLE>
<CAPTION>
YEAR
OF
MANUFACTURER EQUIPMENT TYPE EQUIPMENT DESCRIPTION ACQUISITION
- ------------------------ ------------------------------------- ------------------------ -------------
<S> <C> <C> <C>
STK..................... (1) 9200-XJ3, 6172, 9220-A22 Disk Array 1995
EMC..................... (1/4) 3200-9024, 3200-9016 Disk Array 1995
STK..................... (50%) (1) 9490-M34, 4412, 3T43, Tape Drive 1995
9300001
STK..................... (1) 9490-M32 Tape Drive 1996
PYR..................... (50%) NILE 100 Departmental Server 1996
IBM..................... (1) 3745-31A, (1) 3746-900 Communication Controller 1996
IBM..................... (1) 3490-B40 Tape Drive 1996
HP...................... (50%) (2) HP9000-K420 Departmental Server 1996
<CAPTION>
TOTAL
RENT IN DEBT OBLIGATIONS EQUIPMENT
MANUFACTURER CASH LIEU ASSUMED INCURRED COST
- ------------------------ ----------- ----------- ----------------- ----------- ---------
<S> <C> <C> <C> <C> <C>
STK..................... 409,422 0 0 0 409,422
EMC..................... 146,753 0 0 0 146,753
STK..................... 73,086 1,510 0 0 74,596
STK..................... 85,714 0 0 0 85,714
PYR..................... 35,913 0 132,663 0 168,576
IBM..................... 155,160 0 0 0 155,160
IBM..................... 42,194 0 0 0 42,194
HP...................... 21,164 0 134,155 0 155,319
</TABLE>
<PAGE>
COMMONWEALTH EQUIPMENT INCOME PRIVATE FUND VI LIMITED PARTNERSHIP
SUMMARY OF EQUIPMENT ACQUISITIONS
FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 1996
(TABLE VI)
<TABLE>
<CAPTION>
YEAR
OF
MANUFACTURER EQUIPMENT TYPE EQUIPMENT DESCRIPTION ACQUISITION CASH
- -------------------------------------------------- ------------------ --------------------- ------------- -----
<S> <C> <C> <C> <C>
STK............................................... (25%) (7) 9490-M34 Tape Drive 1996 0
<CAPTION>
TOTAL
RENT IN DEBT OBLIGATIONS EQUIPMENT
MANUFACTURER LIEU ASSUMED INCURRED COST
- -------------------------------------------------- ----------- --------------- ----------- -----------
<S> <C> <C> <C> <C>
STK............................................... 7,375 0 264,561 271,936
</TABLE>
