r
-. -.T1
_HhShWr_4
TEXAS GRAND PRAIRIE
r
FOREWORD
The enterprise budgets for Texas Grand Prairie
Region are based on estimates of yields, production
input quantities, and production practices which
represent the best judgment of local producers,
county Extension agents-agriculture, financial insti
tution representatives, farm machinery dealers and
others knowledgeable of the area. Variation in
yields, production inputs and production practices
should be expected for particular farms.
Budgets for all major crops produced in the
area are included for two levels of management,
when applicable. Crop yields are directly related
to levels of management. These differences are due
largely to timing of operational practices which
may not be evident in the budgets.
The machinery inventory is applicable to both
typical and high level management. In some bud
gets custom rates, primarily harvesting, were used
in lieu of the assumption that harvesting equip
ment was used.
Budgets for establishing permanent type pasture
glasses were prepared and used for prorating estab
lishment costs in the respective pasture and hay
budgets. Forage crops include expenses only be
cause it is expected that the income will be derived
from livestock enterprises.
Land charges were based on the customary land
lord's crop share less his proportionate share of
certain production and harvesting inputs. A per
acre land charge was made when crop share was
not used.
TEXAS GRAND PRAIRIE REGION
r
Assumed Prices Paid and Received by Farmers 1/
Item
Unit
Price
Prices Paid (1978)
r
Seed
Cottonseed (Acid Delinted)
Grain Sorghum
Wheat
Oats
Sudangrass
Corn
Ryegrass
Barley
Kleingrass
lb.
lb.
lb.
lb.
lb.
lb.
lb.
lb.
lb. pis
Fertilizer
Nitrogen
Phosphorous
Potassium
lb.
lb.
lb.
.22
.20
.10
Fuel and Lubricants
Gasoline (Bulk Delivery-$.09 Tax Refund)
Diesel
gal.
gal.
.52
.42
Labor
hour
3.00
cwt.
cwt.
cwt.
acre
cwt.
1.25
Custom Rates
Cotton Stripping and Hauling
Combining Grain Sorghum ($5.00 Minimum)
Hauling Grain Sorghum
Combining Wheat/Oats
Hauling Wheat/Oats
Combining Corn
Hauling Corn
Cut, Rake and Bale Hay
Hauling Hay
Applying Herbicide/Insecticide (Aerial)
Cotton Ginning
Fertilizer Spreader
C
bu.
bu.
bale
bale
acre
cwt.
acre
.35
.43
.09
.09
.24
.48
.25
.14
6.50
.28
.17
7.50
.17
.24
.10
.45
.25
1.75
1.90
2.00
- 2 Texas Grand Prairie Region
.
Item
Interest on Operating Capital
Unit
Price
percent
$ .10
Prices Received (1978)
Cotton Lint
Cottonseed
Grain Sorghum
Corn
Wheat
Oats
Barley
Sorghum Hay
Coastal Hay
Oat Hay
Kleingrass Hay
lb.
ton
cwt.
bu.
bu.
bu.
bu.
ton
ton
ton
ton
4.45
60.00
3.40
1.95
2.25
1.00
1.75
50.00
50.00
50.00
50.00
^
>
1/ These price assumptions are not to be interpreted as predictions or
prospective prices.
_
TEXAS GRAND PRAIRIE REGION
Estimated Machinery and Equipment Cost Per Hour of Use
Machinery
Item and Size
c.
Tractor - 125 HP
Tractor - 100 HP
Tractor - 75 HP
Tractor - 40 HP
Pickup - 1/2 Ton
Chisel - 12.7 Ft.
Cultivator - 12.7 Ft.
Disc-Tandem - 13 Ft.
Disc-Tandem - 19 Ft.
Grain Drill - 11 Ft.
Sprayer Herb. - 13 Ft.
Sprayer Herb. - 19 Ft.
Lister/Bedder - 13 Ft.
Lister/Bedder - 19 Ft.
Planter 4R - 13 Ft.
Planter 6R - 19 Ft.
Shredder 4R - 13 Ft.
Sprayer - 25 Ft.
Stripper - 6 Ft.
Roller 4R - 13 Ft.
Roller 6R - 19 Ft.
Trailers - 4 Ft.
Cultipacker - 10 Ft.
c
Item
No.
1
2
4
6
10
30
32
34
35
38
40
41
42
43
44
45
46
50
52
54
55
56
68
Purchase
Price
Estimated
Years of Use
6
6
8
12
4
10
8
10
10
10
8
8
8
8
8
8
6
10
10
10
10
10
10
$23,000
20,200
14,500
8,150
5,805
2,400
2,050
2,300
3,850
3,400
1,100
1,225
1,800
2,350
3,475
4,400
3,100
1,200
9,400
325
400
1,350
1,550
c
Estimated
Hours of Use
3600
3600
6400
3600
2000
2000
2400
1000
1000
1000
800
800
2400
2400
1200
1200
1200
500
800
750
750
500
500
Fixed Costs
Per Hour
Variable Costs
Per Hour
$ 9.08
7.91
3.89
3.77
4.27
$ 6.74
5.87
2.89
3.74
2.37
1.85
1.16
3.55
5.93
5.25
1.88
2.09
1.03
1.33
3.96
5.02
3.02
3.70
18.03
.61
.43
1.17
1.97
1.67
.70
.77
.39
.51
1.42
1.78
1.27
1.23
6.45
.67
.94
.21
.27
4.17
4.78
1.35
1.53
_
C O A S TA L B E R M U D A G R A S S E S TA B . . D R Y L A N D . T E X A S G R A N D P R A I R I E R E G I O N
E S T I M AT E D C O S T S A N D R E T U R N S P E R A C R E
TYPICAL MANAGEMENT
r
UNIT
GROSS
TO TA L
RECEIPTS
PRICE
OR
VA L U E
OR
COST/UNIT
QUANTITY
COST
FROM
$~
PRODUCTION
$
0.0
VA R I A B L E C O S T S
PREHARVEST
$
FERTC60-.0-0)
ACRE
21.20
1.00
FERTILIZER
APPLI
ACRE
2.00
2.00
CUSTOM
SPRIGGING
ACRE
18.00
1.00
HERBICIDE
ACRE
1.50
1.00
MACHINERY
ACRE
4.59
1.00
TRACTORS
ACRE
6.70
1.00
LABOR(TRACTOR
6
MACHINERY)
HOUR
4.00
2.39
INTEREST
ON
O P.
C A P.
DOL.
0.10
32.94
S U B TO TA L .
PRE-HARVEST
$
HARVEST
S U B TO TA L .
r
TO TA L
3.
4.
5.
6.
COSTS
HARVEST
VA R I A B L E
INCOME
VA R I A B L E
FIXED
MACHINERY
ACRE
TRACTORS
ACRE
LAND
(NET
RENT)
TO TA L
FIXED
TO TA L
NET
$
$
~
COST
ABOVE
o.O
$
COSTS
COSTS
4.35
5.27
ACRE
8.00
COSTS
COSTS
RETURNS
21.20
4.00
18.00
1.50
4.59
6.70
9.57
3.29
68.86
$
-68.86
$
1.00
1.00
1.00
$
s
$
68.86
4.35
5.27
Q±22
17.62
86#47
__86.47
PREPARED BY CECIL PARKER. TAEX. COLLEGE STATION. TEXAS PROJECTED 1978
r
C O A S TA L B E R M U D A G R A S S E S TA B . . D R Y L A N D . T E X A S G R A N D P R A I R I E R E G I O N
E S T I M AT E D C O S T S A N D R E T U R N S P E R A C R E
TYPICAL MANAGEMENT
OPERATION
ITEM
NO.
DATE
TIMES LABOR
OVER HOURS
FUEL.OIL.
FIXED
M A C H I N E L U B . . R E P. C O S T S
HOURS PER ACRE PER ACRE
PICKUP
10
JAN
0.10
0.125
0.100
0.43
PICKUP
10
FEB
0.20
0.250
0.200
0.85
PICKUP
10
MAR
0.10
0.125
0.100
0.43
S P R AY E R
HERBICID
6.40
APR
1.00
0.397
0.264
1.38
PICKUP
10
APR
0.10
0.125
0.100
0.43
PICKUP
10
AUG
0.10
0.125
0.100
0.43
PICKUP
10
SEPT
0.10
0.125
0.100
0.43
PICKUP
10
NOV
0.10
0.125
0.100
0.43
CHISEL
2.30
DEC
1.00
0.297
0.198
2.00
D I S K - TA N D E M
2.34
DEC
2.00
0.573
0.382
4.07
PICKUP
10
DEC
0.10
-2x125
-2x122
-2x±2
T O TA L S
2.392
.
1.745
11 . 2 9
0.24
0.47
0.24
1.68
0.24
0.24
0.24
0.24
1.76
4.04
-2x2*
9.62
.
P R E PA R E D B Y C E C I L PA R K E R . TA E X . C O L L E G E S TAT I O N , T E X A S
PROJECTED 1978
B U D G E T I D E N T I F I C AT I O N N U M B E R - — 8 3 4 0 1 4 0 0 2 1 4 0 0 0
A N N U A L C A P I TA L M O N T H 1 2
_
C O A S TA L B E R M U D A G R A S S H AY. D R Y L A N D . T E X A S G R A N D P R A I R I E R E G I O N
E S T I M AT E D C O S T S A N D R E T U R N S P E R A C R E
TYPICAL MANAGEMENT
r
UNIT
GROSS R E C E I P T S F R O M P R O D U C T I O N
H AY
T O TA L
VARIABLE COSTS
PREHARVEST
FERT C80-40-0)
FERTILIZER APPLI
HERBICIDE
MACHINERY
TRACTORS
LABORCTRACTOR & MACHINERY)
INTEREST ON OP. CAP.
PRICE
OR
VA L U E
OR
COST/UNIT QUANTITY COST
TON
50.00
ACRE
ACRE
ACRE
ACRE
ACRE
HOUR
DOL.
25
2
1
3
0
4
0
3.00
.60
.00
.50
.08
.60
.00
.10
1
2
1
1
1
1
19
.00
.00
.00
.00
.00
.07
.80
S U B T O TA L . P R E - H A R V E S T
25.60
4.00
1.50
3.08
0.60
4.29
$
BALE
BALE
0.45
0.25
100.00
100.00
T O TA L VA R I A B L E C O S T
45.00
—25x22
$
70.00
s
111 . 0 5
3 . B R E A K E V E N P R I C E . VA R I A B L E C O S T S T O N
4. FIXED COSTS
MACHINERY
TRACTORS
P R O R AT E D
E S TA B .
COST
LAND
CNET
RENT)
T O TA L F I X E D C O S T S
37.017
$
ACRE
ACRE
ACRE
ACRE
1 .90
0.59
86.47
10.00
BREAKEVEN
1.90
0.59
6.05
________
18.55
$ 129.60
PRICE,
TO TA L
COSTS
TON
E S TA B L I S H M E N T C O S T P R O R AT E D O V E R 1 5 Y E A R S .
P R E PA R E D B Y C E C I L PA R K E R . TA E X . C O L L E G E S TAT I O N . T E X A S
r
1.00
1 .00
0.07
1.00
$
5 . T O TA L C O S T S
6.
__*____
41.05
s
HARVEST COSTS
CUSTOM BALING
CUSTOM HAULING
S U B T O TA L . H A R V E S T
r
-!_______
S 150.00
43.201
PROJECTED 1978
C O A S T * . " W U O A M M S H AY. D R Y L A N D . T E X A S G R A N D P R A I R I E R E G . O N
ESTIMATED COSTS AND RETURNS PER ACRE
TYPICAL MANAGEMENT
OPERATION
MM
PICKUP
PICKUP
PICKUP
PICKUP
SPRAYER HERBICID
PICKUP
PICKUP
TOTALS
ITEM
NO*
10
10
10
10
6,40
10
10
DATE
OEC
JAN
FEB
MAR
APR
APR
AUG
T
O. I. R
L E. P * F
D
T ItMMEBSe L A B,O R ,MMA C H IFNUE E LLU. B
C IOXSET S
OVER HOURS HOURS PER ACRE PER ACRE
0.10
0.10
0.20
0.10
0.50
0.10
0.125
0.125
0*250
0*125
0*198
0.125
0*100
0*100
0*200
0*100
0*132
0*100
o.io __JUi_S -2*122
1*073 0*832
0*43
0*43
0*85
0*43
0*69
0*43
0*24
0*24
0*47
0*24
0*84
0*24
-2**2
-2*2*
3*68
2.50
PRE M RED_Y
"STPRORATED
OVERCOLLEGE
1S YEARS.
PREPARED
BY "*
CECIL
PARKER. TAEX.
STATION. TEXAS
PROJECTED U
8
COASTAL BERMUDAGRASS ESTAB.. DRYLAND. TEXAS GRAND PRAIRIE REGION
ESTIMATED COSTS AND RETURNS PER ACRE
HIGH LEVEL MANAGEMENT
r
PRICE
OR
VA L U E
OR
UNIT COST/UNIT QUANTITY COST
GROSS RECEIPTS FROM PRODUCTION
HAY
TOTAL
VARIABLE COSTS
PREHARVEST
FERTC90-40-0)
FERTILIZER APPLI
CUSTOM SPRIGGING
HERBICIDE
MACHINERY
TRACTORS
LABORCTRACTOR & MACHINERY)
INTEREST ON OP. CAP.
TON
50.00
2.00
ACRE
ACRE
ACRE
ACRE
ACRE
ACRE
HOUR
DOL.
27.80
2.00
18.00
1.50
2.77
5*84
4.00
0.10
1*00
2.00
1.00
1 .00
1.00
1.00
1.69
39.46
27.80
4*00
18.00
1.50
2.77
5.84
6.75
3x23
$
S U B T O TA L . P R E - H A R V E S T
BALE
BALE
0.45
0.25
2.00
2.00
0.90
$
$
T O TA L VA R I A B L E C O S T
ACRE
ACRE
ACRE
3.07
4.33
8.00
TO TA L
COSTS
TON
PREPARED BY CECIL PARKER. TAEX. COLLEGE STATION. TEXAS
r
1.00
1 .00
1.00
72.01
3.07
4*33
. __*__
$
15.40
s
5 . T O TA L C O S T S
PRICE.
1 .40
$
4. FIXED COSTS
MACHINERY
TRACTORS
LAND CNET RENT)
T O TA L F I X E D C O S T S
BREAKEVEN
2x32
36.003
3 . B R E A K E V E N P R I C E . VA R I A B L E C O S T S T O N
6.
70.61
s
HARVEST COSTS
CUSTOM BALING
CUSTOM HAULING
S U B T O TA L . H A R V E S T
r
100.00
S 100.00
87.41
43.705
PROJECTED
C O A S TA L ^ R M U D A G R A S S E S TA B . * D RY L A N D . T E X A S G R A N D P R A I R I E R E G I O N
ESTIMATED COSTS AND RETURNS PER ACRE
HIGH LEVEL MANAGEMENT
^
■M M M M M M M M M I
OPERATION
CHISEL
DISK-TANDEM
PICKUP
PICKUP
SPRAYER HERBICID
PICKUP
PICKUP
PICKUP
ITEM
NO*
2.30
2*35
10
10
4*41
10
10
10
TOTALS
D AT E
DEC
DEC
DEC
JAN
FEB
FEB
MAR
APR
FUEL.OIL. FIXED
TIMES LABOR MACHINE LUB..REP. COSTS
OVER HOURS HOURS PER ACRE PER ACRE
2*00
1.00
0*10
0*10
1*00
0.10
0*10
0*594
0*196
0*125
0*125
0*271
0.125
0*125
0*396
0*131
0*100
0*100
0*181
0*100
0*100
°°10 -2*122 -2*122
1*687
1.208
4*00
1*50
0*43
0.43
0*98
0*43
0*43
3.82
1*70
0*24
0*24
1*01
0*24
0*24
.3x±2
-3x2±
8.61
7*40
P R E PA R E D B Y C E C I L PA R K E R . TA E X . C O L L E G E S TAT I O N . T E X A S
PROJECTED 19*
xs_
srrsssr
rr-—
•»•«♦••««♦-
•
\
10
r
COASTAL BERMUDAGRASS HAY. DRYLAND. TEXAS GRAND PRAIRIE REGION
ESTIMATED COSTS AND RETURNS PER ACRE
HIGH LEVEL MANAGEMENT
UNIT
GROSS RECEIPTS FROM PRODUCTION
HAY
TOTAL
2 . VA R I A B L E C O S T S
PREHARVEST
FERTC240-40-0)
FERTILIZER APPLI
HERBICIDE
MACHINERY
TRACTORS
LABORCTRACTOR t> MACHINERY)
I N T E R E S T O N O P. C A P.
SUBTOTAL. PRE-HARVEST
r
HARVEST COSTS
CUSTOM BALING
CUSTOM HAULING
SUBTOTAL. HARVEST
TON
PRICE
OR
VA L U E
OR
COST/UNIT QUANTITY COST
50.00
6.00
ACRE
ACRE
ACRE
ACRE
ACRE
HOUR
DOL.
60.80
2.00
1.50
3.06
0*41
4.00
0*10
1.00
3.00
1.00
1*00
1*00
1.01
28.66
$
0.45
0.25
200.00
200.00
TON
36.446
s
ACRE
ACRE
ACRE
ACRE
1 .85
0.41
12.59
10.00
1.85
0.41
0.88
1 .00
1.00
0.07
1.00
$
—12x22
13.13
s 231.81
TON
PREPARED BY CECIL PARKER, TAEX. COLLEGE STATION. TEXAS
r
- 32x22
s 218.67
5 . TO TA L C O S T S
6. BREAKEVEN PRICE. TOTAL COSTS
90.00
$ 140.00
4. FIXEO COSTS
MACHINERY
TRACTORS
PRORATED ESTAB. COST
LAND CNET RENT)
TOTAL FIXED COSTS
60.80
6.00
1.50
3.06
0.41
4.04
__J_flZ
78.67
$
BALE
BALE
TOTAL VARIABLE COST
3 . B R E A K E V E N P R I C E . VA R I A B L E C O S T S
,3QQ«Q0
% 300.00
38.635
PROJECTED
11
COASTAL BERMUDAGRASS HAY, DRYLAND, TEXAS GRAND PRAIRIE REGION
ESTIMATED COSTS AND RETURNS PER ACRE
HIGH LEVEL MANAGEMENT
OPERATION
PICKUP
PICKUP
PICKUP
PICKUP
SPRAYER H E R B I C I D
PICKUP
PICKUP
PICKUP
TOTALS
ITEM
NO.
10
10
10
10
6.41
10
10
10
DATE
OEC
JAN
FEB
MAR
APR
APR
MAY
JUNE
.
FUEL.OIL. FIXED
TIMES LABOR MACHINE LUB..REP. COSTS
OVER HOURS HOURS PER ACRE PER ACRE
0.10
0.10
0.10
0.10
0.50
0.10
0.10
0.10
0.100
0.100
0.100
0. 100
0.090
0.100
0.100
0.43
0.43
0.43
0*4 3
0.48
0.43
0.43
0.24
0.24
0.24
0.24
0.60
0.24
0.24
__ 2x125 - 2 x 1 2 2
-2x±2
-2*2±
3.47
2.25
0.125
0.125
0.125
0.125
0.136
0.125
0*125
1 . 0 11
0.790
PREPARED BY CECIL PARKER. TAEX. COLLEGE STATION. TEXAS
PROJECTED 197 .
BUDGET IDENTIFICATION NUMBER— 8360140011400 0
ANNUAL CAPITAL MONTH 9
.
12
r
COTTON. DRYLAND. TEXAS GRAND PRAIRIE REGION
ESTIMATED COSTS AND RETURNS PER ACRE
TYPICAL MANAGEMENT
UNIT
GROSS RECEIPTS FROM PRODUCTION
COTTON LINT
COTTONSEED
TOTAL
c
2. VARIABLE COSTS
PREHARVEST
SEED
F E RT C 3 2 - 4 0 - 0 )
FERTILIZER APPLI
HERBICIDE
HERB. POSTEMERGE
INSECTICIDE
MACHINERY
TRACTORS
LABORITRACTOR & MACHINERY)
INTEREST ON OP. CAP.
SUBTOTAL. PRE-HARVEST
HARVEST COSTS
DESICCANT
GIN. BAG. TIES
HAUL. COMP &EDUC
MACHINERY
TRACTORS
LABORCTRACTOR & MACHINERY)
SUBTOTAL. HARVEST
PRICE
OR
VA L U E
OR
COST/UNIT QUANTITY COST
CWT.
TON
0.44
60.00
225.00
0.18
LBS.
ACRE
ACRE
ACRE
ACRE
ACRE
ACRE
ACRE
HOUR
DOL.
0.35
15.04
2.00
3.75
2.78
3.00
4.44
18.07
4.00
0.10
21.60
1.00
1.00
1.00
1.00
3*00
1.00
1.00
4*59
32.22
S 11 0 * 9 2
7.56
15.04
2*00
3*75
2.78
9.00
4.44
18.07
18.38
s
7.00
1.90
3.50
5.62
4.59
4.00
1.00
9.00
0.47
1.00
1.00
1.66
7.00
17.10
1.64
5*62
4*59
$
s -15.91
s
ACRE
ACRE
ACRE
22.07
18.02
17.03
1.00
1.00
1.00
22*07
18*02
-12*23
57.12
183.95
5 . T O TA L C O S T S
r
S±_S_4
42*60
s 126*83
3* INCOME ABOVE VARIABLE COSTS
6. NET RETURNS
84.24
s
GAL.
CWT.
BALE
ACRE
ACRE
HOUR
TOTAL VARIABLE COST
4. FIXED COSTS
MACHINERY
TRACTORS
LAND CNET RENT)
TOTAL FIXED COSTS
100.12
—12*32
s
-73.03
LAND RENT BASED ON 25% OF GROSS INCOME LESS 25% OF FERT., INSECT.,
AND GIN-BAG-TIES* GOV'T PAYMENT NOT INCLUDED.
PREPARED BY CECIL PARKER. TAEX. COLLEGE STATION. TEXAS PROJECTEO 1978
13
COTTON. DRYLAND. TEXAS GRAND PRAIRIE REGION
ESTIMATED COSTS AND RETURNS PER ACRE
TYPICAL MANAGEMENT
OPERATION
CHISEL
DISK-TANDEM
LISTER/BEDDER
LISTER/BEDDER
PICKUP
PICKUP
PICKUP
C U LT I VATO R
PLANTER. 4 .ROW
SPRAYER HERBICID
ROLLER. 4-*R0W
PICKUP
C U LT I VATO R
SPRAYER
C U LT I VATO R
SPRAYER
SPRAYER HERBICID
SPRAYER HERBICID
STRIPPER
TRAILERS
SHREDDER. 4-.R0W
PICKUP
TOTALS
*
ITEM
NO*
D AT E
FUEL.OIL. FIXED
TIMES LABOR MACHINE LUB.,REP• COSTS
OVER HOURS HOURS PER ACRE PER ACRE
2.30
2.34
2.42
2.42
10
10
10
4,32
2.44
40
6.54
10
4.32
6.50
4.32
6.50
6.40
6.40
4.52
10.56
2.46
10
OCT
OCT
OCT
NOV
NOV
DEC
MAR
APR
APR
APR
APR
APR
MAY
MAY
JUNE
JUNE
JUNE
SEPT
SEPT
SEPT
SEPT
SEPT
1.00
1 .00
1.00
1.00
0.10
0.10
0.10
1.00
1.20
1.20
1 .00
0.10
1.00
1.00
1 .00
2.00
1 .00
1.00
1 .00
1 .00
1.00
0.10
0.297
0.287
0.284
0.284
0.125
0.125
0.125
0.321
0.426
0.0
0.179
0.125
0.321
0.206
0.321
0.412
0.397
0.397
1.091
0.172
0.235
0.198
0.191
0.189
0.189
0.100
0.100
0.100
0.214
0.284
0.317
0 . 11 9
0.100
0.214
0.137
0.214
0.275
0.264
0.264
0.728
0 . 11 5
0.157
- 2 x 1 2 5 -2x122
6.254 4.570
2.00
2.04
1.87
1.87
0.43
0.43
0.43
1.09
3. 10
0.22
0.56
0.43
1.09
0*79
1.09
1.58
1.38
1.38
8. 09
0.74
1.69
0.43
32.72
>
1.76
2.02
1*53
1.53
0.24
0.24
0*24
0*99
3*12
0.59
0.62
0.24
0*99
1.13
0.99
2*25
1.68
1.68
15.64
0.80
1.58
-2*2A
40.08
LAND RENT BASED ON 25% OF GROSS INCOME LESS 25% OF FERT.. INSECT.,
A N D G I N - B A G - T I E S . G O V " T PAY M E N T N O T I N C L U D E D .
P R E PA R E D B Y C E C I L PA R K E R . TA E X . C O L L E G E S TAT I O N , T E X A S P R O J E C T E D 1 9 7 8
B U D G E T I D E N T I F I C AT I O N N U M B E R — 9 3 0 1 4 0 0 2 1 4 0 0 0
A N N U A L C A P I TA L M O N T H 9
.