Three months ended June 30, | |||||
2010 | 2009 | ||||
Earnings:
|
|||||
Income
before income taxes
|
$ |
871,868
|
$ |
30,782
|
|
Add:
Fixed charges
|
1,102,750
|
1,148,047
|
|||
Add:
Amortisation of capitalized interest
|
9,509
|
9,870
|
|||
Less:
Interest capitalized
|
-
|
- | |||
Total
earnings
|
1,984,127
|
1,188,699
|
|||
Fixed
charges:
|
|||||
Interest
expensed and capitalized
|
750,000
|
750,000
|
|||
Amortized
premiums, discounts, & bond
costs
|
352,750
|
398,047
|
|||
Total
fixed charges
|
$ |
1,102,750
|
$ |
1,148,047
|
|
Ration
of earnings to fixed charges
|
1.80
|
1.04
|