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435- <br />JULY 91978 <br />. - IXORA UTILITIES, <br />INC. <br />c <br />EXPLANATION OF PRO -FORMA <br />ADJUSTMENTS <br />(A) <br />See Computation of Additional Revenue Required <br />- <br />Exhibit H <br />44$49,44493 . <br />(B) <br />Pro -Forma additional Depreciation on plant <br />addition required by Statutory/Regulatory <br />Authorities <br />$ 4.000'0 <br />(C) <br />Pro -Forma Income Taxes Computed as Follows: - <br />Net Income <br />$17,324.10 <br />Add: Income Taxes (Federal) <br />3,464.82 <br />_ <br />Total Income <br />$20,788.92 <br />Less: State Tax Exemption <br />5,000.00 <br />State Taxable Income @ 5% <br />$15,788.92 <br />$ 789.44 <br />. <br />Amount Subject to Federal Tax <br />3,464.82. <br />Total Income Taxes (Federal and State) <br />$ 4.2 <br />6 <br />F <br />s <br />-UNAUDITED- <br />, <br />435- <br />JULY 91978 <br />