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Unformatted text preview: pected future tax consequences of temporary differences between the tax bases and
financial reporting bases of assets and liabilities, as well as on the effects of adjustments made to
reflect the requirements of US GAAP. A valuation allowance is provided to reduce deferred
tax assets when management considers that realization is not reasonably assured. (o) Basic and diluted earnings per share
Basic and diluted earnings per share are computed by dividing net income by the weighted
average number of all classes of shares outstanding during the year, net of treasury stock, after
taking into consideration the dividend provisions applicable to Class A preferred and Class B
preferred stocks, assuming that all earnings for the year are fully distributed. There were no
dilutive securities outstanding in 1998, 1999 and 2000. (p) Comprehensive income
The Company has disclosed comprehensive income as part of the Statement of Changes in
Stockholders´ Equity, in compliance with SFAS 130 - "Reporting Comprehensive Income". 2 Sale of the “El...
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- Spring '08