Investment Properties and Properties Held for Sale (Tables)

9 Months Ended

Sep. 30, 2014

The components of properties held for sale in the balance sheets as of September 30, 2014 and December 31, 2013 are outlined below:


	September 30, 2014		December 31, 2013

Balance Sheet:
Land	$	161,996	$	161,996
Net Building Value	$	99,620	$	107,273

Properties held for sale	$	261,616	$	269,269

Components of Discontinued Operations Included in Statements of Income

The components of discontinued operations included in the condensed statement of income (loss) for the three and nine month periods ended September 30, 2014 and 2013 are outlined below:


	Three Month Period Ended					Nine Month Period Ended
	September 30, 2014			September 30, 2013		September 30, 2014			September 30, 2013
	(Unaudited)			(Unaudited)		(Unaudited)			(Unaudited)
Statements of Income (Loss):
Revenues:
Rental income	$	0		$	16,200	$	27,750		$	55,629

Total Revenues	$	0		$	16,200	$	27,750		$	55,629

Expenses:
Bad Debt Expense	$	0		$	0	$	31,116		$	0

Insurance expense		1,409			0		1,643			0

Property tax expense		4,887			0		6,516			0

Other property expenses		3,647			0		3,953			0

Legal Expenses		4,340			0		4,340			0

Total Expenses	$	14,283		$	0	$	47,568		$	0

Net Income (Loss) from Discontinued Operations	($	14,283	)	$	16,200	($	19,818	)	$	55,629

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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