Annual report pursuant to Section 13 and 15(d)

Note 4 - Real Estate Acquired

v3.3.1.900
Note 4 - Real Estate Acquired
12 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
(4)
Real Estate Acquired
 
Real estate acquired included the following activity for the years ended December 31, 2015 and 2014:
 
 
2015
 
 
2014
 
 
 
Acres
 
 
Book Value
 
 
Acres
 
 
Book Value
 
Balance at January 1:
    10,124.78     $ 1,125,059       10,124.78     $ 1,125,059  
                                 
Additions
                       
Sales
    (60.00
)
  $ (10,458 )            
Balance at December 31:
    10,064.78     $ 1,114,601       10,124.78     $ 1,125,059  
 
No valuation allowance was necessary at December 31, 2015 and 2014.