Investment Properties and Property Held for Sale (Tables)

12 Months Ended

Dec. 31, 2014

Components of Discontinued Operations Included in Statements of Income

The components of discontinued operations included in the statements of income for the years ended December 31, 2014, 2013 and 2012 are outlined below:


	December 31,			December 31,		December 31,
	2014			2013		2012
Revenues
Rental Income	$	27,750		$	59,679	$	60,804
Other Income		0			0		2,500

Total Revenues	$	27,750		$	59,679	$	63,304

Expenses
Insurance		328			0		2,555
Bad Debt Expense		25,482			0		0
Professional services		0			0		2,060
Property tax expense		12,770			0		12,546
Maintenance expense		306			0		15,745
Property impairment write-up		0			0		(142,747	)
Depreciation		7,653			14,750		14,750
Amortization		743			1,782		1,782
Other expenses		0			0		3,100

Total Expenses (Income)	$	47,282		$	16,532	$	(90,209	)

Net (Loss) Income from Rental Operations	$	(19,532	)	$	43,147	$	153,513
Net Gain on Sale of Properties		227,943			0		0

Net Income from Discontinued Operations	$	208,411		$	43,147	$	153,513

- 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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