Wiley GAAP 2008

Marcus and Kelly Imrich Notes to Financial Statements

Note 1: The accompanying financial statements include the assets and liabilities of Marcus and Kelly Imrich. Assets are stated at their estimated current values, and liabilities at their estimated current amounts.

Note 2: The estimated current values of marketable securities are either (1) their quoted closing prices or (2) for securities not traded on the financial statement date, amounts that fall within the range of quoted bid and asked prices.

Marketable securities consist of the following:

	December 31, 2008		December 31, 2007
Stocks	Number of shares	Estimated current values	Number of shares	Estimated current values
Susan Schultz, Inc.			1,000	$122,000
Ripley Robotics Corp.	500	$ 51,927	1,000	120,485
L.A.W. Corporation	300	20,700	100	5,000
Jay & Kelly Corp.	300	20,700	200	5,000
J.A.Z. Corporation	200	35,460	200	8,000
		$128,787		$260,485

Note 3: The interest income from state and municipal bonds is generally not subject to federal income taxes but is, except in certain cases, subject to state income tax and federal alternative minimum tax.

Note 4: The loan receivable from Carol Parker, Inc. matures January 2015 and bears interest at the prime rate.

Note 5: Partnership and joint venture interests consist of the following:

	Percent owned	Cost	Estimated current value 12/31/2008	Estimated current value 12/31/2007
East Third Partnership	50.0%	$ 50,000	100,000	100,000
631 Lucinda Joint Venture	20.0	10,000	35,000	38,000
27 Wright Partnership	22.5	10,000	40,000	50,000
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