F—3

NEW ZEALAND BROADCASTING SERVICE— continued COMMERCIAL DIVISION Income and Expenditure Account for the Year Ended 31st March, 1950 Expenditure £ Income £ Expenditure on programmes, including payments to artists, Sales of station time .. .. .. .. .. 386,819 broadcasting rights, copyright fees, recorded programmes, Accreditation fees .. .. .. .. .. 23 relay lines, and sundry miscellaneous items .. .. 44,992 Programme fees .. .. .. .. •• .. 18,050 General administrative and running expenses, including rents, Interest on investments .. .. .. .. .. 3,100 rates and insurance, lighting and heating, legal and audit, Miscellaneous receipts .. .. .. .. .. 101 printing and stationery, salaries and wages, telephone services, repairs and maintenance of buildings and office and studio fittings, operation and maintenance of transmitting equipment, advertising, commission, and sundry miscellaneous items . . 322, 606 Depreciation provision .. .. • • • • • • 7,861 Balance carried down : net profit for year .. .. . • 32,634 £408,093 £408,093 £ £ £ Provision for taxation .. .. .. ..19,200 Balance brought forward from previous year .. .. .. 201,070 Plus under-provided in previous year .. .. 1,024 Premium on sale of investments .. .. .. .. 175 20,224 Balance brought down .. .. .. .. .. 32,634 Balance carried forward to next year .. .. •• 213,655 £233,879 £233,879

22