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National Annuity
Company in Liquidation |
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Balance Sheet at December 31, 2007 |
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Liquidation Date: March 23, 2007 |
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Balances as of |
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Net Change |
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March 23, 2007 |
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December 31, 2007 |
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Increase (Decrease) |
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Bonds |
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$8,676,523 |
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$8,341,102 |
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($335,421) |
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Preferred Stock |
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3,482,555 |
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2,822,795 |
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(659,760) |
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Mortgage Loans |
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9,631,800 |
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4,876,300 |
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(4,755,500) |
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Less Valuation for Bad Debts or Market
Writedowns |
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(1,041,760) |
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(1,041,760) |
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Real Estate Owned |
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1,540,000 |
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1,540,000 |
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Less Valuation for Bad Debts or Market
Writedowns |
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(308,000) |
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(308,000) |
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Cash and Cash Equivalents |
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3,004,305 |
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$2,210,105 |
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(794,199) |
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Other Invested Assets |
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5,493,294 |
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4,569,294 |
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(924,000) |
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Less Valuation for Bad Debts or Market
Writedowns |
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(1,651,231) |
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(1,651,231) |
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Investment Income Due and Accrued |
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227,880 |
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842,377 |
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614,497 |
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Less Valuation for Bad Debts or Market
Writedowns |
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(367,962) |
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(367,962) |
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$30,516,357 |
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$21,833,019 |
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($8,683,337) |
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Aggregate Reserves |
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$30,163,323 |
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$21,895,339 |
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($8,267,984) |
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Accounts Payable - POC's |
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0 |
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Payable to Guaranty Associations |
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3,745,148 |
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3,745,148 |
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Other Liabilities |
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0 |
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General Expenses Due and Accrued |
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7,926 |
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7,926 |
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0 |
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30,171,249 |
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25,648,414 |
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(4,522,835) |
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Common Capital Stock |
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499,980 |
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499,980 |
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0 |
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Surplus Notes |
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425,000 |
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425,000 |
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0 |
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Gross Paid In and Contributed Surplus |
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121,697 |
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121,697 |
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0 |
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Unassigned Funds (Surplus) |
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(701,569) |
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(701,569) |
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0 |
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Current Year Profit/(Loss) |
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(4,160,502) |
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(4,160,502) |
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345,108 |
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(3,815,395) |
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(4,160,502) |
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$30,516,357 |
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$21,833,019 |
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($8,683,337) |
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