Samsung 1998 Annual Report Download - page 38

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for the years ended December 31, 1998 and 1997
Date of appropriation : March 20, 1999 for 1998
March 27, 1998 for 1997 Thousands of Korean Won Thousands of US Dollars (Note 3)
1998 1997 1998 1997
Retained earnings before appropriations :
Unappropriate retained earnings
carried over from prior years 31,881 31,611 26 26
Additional accrued severance benefits (Note 2) (4,225,455) (4,225,454) (3,501) (3,501)
Net income 313,216,038 123,504,909 259,500 102,324
309,022,464 119,311,066 256,025 98,849
Transfers from voluntary reserves (Note 13) :
Reserve for overseas market development 53,600,000 15,609,315 44,408 12,932
Reserve for overseas investmentlosses 70,199,899 21,799,899 58,161 18,061
Reserve for technology development 274,700,000 90,000,000 227,589 74,565
Reserve for export losses 68,000,000 18,631,016 56,338 15,436
466,499,899 146,040,230 386,496 120,994
Appropriations (Note 13) : Legal reserve 50,000,000 10,000,000 41,425 8,285
Reserve for business rationalization 100,000,000 100,000,000 82,850 82,850
Reserve for improvement of financial structure - 30,000,000 - 24,855
Reserve for technology development 537,730,225 65,350,000 445,510 54,142
Cash dividends (Note 14) 87,759,832 59,969,415 72,709 49,685
(Common stock :12% in 1998 10% in 1997)
(Preferred stock :13% in 1998 11% in 1997)
775,490,057 265,319,415 642,494 219,817
Unappropriated retained earnings to subsequent year 32,306 31,881 27 26
The accompanying notes are an integral part of these statements.
STATEMENTS OF APPROPRIATIONS OF RETAINED EARNINGS
37
for the years ended December 31, 1998 and 1997