Civic Intelligence

Dan River Water Inc

990 • Fiscal year 2020 • EIN 56-0901770

Jul 01, 2019 to Jun 30, 2020 • Filed on Sep 09, 2020

610 Patrick StreetEden, NC 27288

(336) 623-2526

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.33x

Higher debt load relative to assets than 56% of similar nonprofits.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

46th percentile

1.24x

Higher debt load relative to revenue than 46% of similar nonprofits.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2020

Net Margin

66th percentile

14%

Higher net margin than 66% of similar nonprofits.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

58th percentile

$3,750

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Source year 2020

Asset Growth

59th percentile

2.0%

Faster asset growth than 59% of similar nonprofits.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

74th percentile

11%

Faster revenue growth than 74% of similar nonprofits.

2020 filings • 501(c)12 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$9,920,273

Up $197,216 (+2.0%) from 2019

Net Assets

Up

$6,611,290

Up $403,932 (+6.5%) from 2019

Liabilities

Down

$3,308,983

Down $206,716 (-5.9%) from 2019

Revenue

Up

$2,675,504

Up $258,373 (+11%) from 2019

Expenses

Up

$2,301,677

Up $245,555 (+12%) from 2019

Net Income

Up

$373,827

Up $12,818 (+3.6%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $7,553,194Liabilities 2011: $3,599,289Net Assets 2011: $3,953,9052011Assets 2012: $8,112,412Liabilities 2012: $3,906,298Net Assets 2012: $4,206,1142012Assets 2013: $8,739,086Liabilities 2013: $4,308,705Net Assets 2013: $4,430,3812013Assets 2014: $8,812,215Liabilities 2014: $4,082,503Net Assets 2014: $4,729,7122014Assets 2015: $9,034,765Liabilities 2015: $3,942,964Net Assets 2015: $5,091,8012015Assets 2016: $9,362,830Liabilities 2016: $3,994,973Net Assets 2016: $5,367,8572016Assets 2017: $9,664,555Liabilities 2017: $4,075,873Net Assets 2017: $5,588,6822017Assets 2018: $9,541,740Liabilities 2018: $3,735,925Net Assets 2018: $5,805,8152018Assets 2019: $9,723,057Liabilities 2019: $3,515,699Net Assets 2019: $6,207,3582019Assets 2020: $9,920,273Liabilities 2020: $3,308,983Net Assets 2020: $6,611,2902020Assets 2021: $10,080,582Liabilities 2021: $2,956,493Net Assets 2021: $7,124,0892021Assets 2022: $10,485,784Liabilities 2022: $2,794,589Net Assets 2022: $7,691,1952022Assets 2023: $10,853,072Liabilities 2023: $2,820,283Net Assets 2023: $8,032,7892023Assets 2024: $10,651,290Liabilities 2024: $2,493,104Net Assets 2024: $8,158,1862024Assets 2025: $10,549,545Liabilities 2025: $2,095,651Net Assets 2025: $8,453,8942025

Highlighted filing

2020

Assets$9,920,273
Liabilities$3,308,983
Net Assets$6,611,290

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0Revenue 2011: $1,923,230Expenses 2011: $1,615,896Net Income 2011: $307,3342011Revenue 2012: $1,870,360Expenses 2012: $1,618,151Net Income 2012: $252,2092012Revenue 2013: $1,823,990Expenses 2013: $1,599,723Net Income 2013: $224,2672013Revenue 2014: $1,902,231Expenses 2014: $1,602,900Net Income 2014: $299,3312014Revenue 2015: $1,955,216Expenses 2015: $1,593,127Net Income 2015: $362,0892015Revenue 2016: $2,044,493Expenses 2016: $1,768,437Net Income 2016: $276,0562016Revenue 2017: $2,052,969Expenses 2017: $1,833,333Net Income 2017: $219,6362017Revenue 2018: $2,285,942Expenses 2018: $2,065,471Net Income 2018: $220,4712018Revenue 2019: $2,417,131Expenses 2019: $2,056,122Net Income 2019: $361,0092019Revenue 2020: $2,675,504Expenses 2020: $2,301,677Net Income 2020: $373,8272020Revenue 2021: $2,727,493Expenses 2021: $2,205,477Net Income 2021: $522,0162021Revenue 2022: $2,761,226Expenses 2022: $2,173,965Net Income 2022: $587,2612022Revenue 2023: $2,959,147Expenses 2023: $2,630,161Net Income 2023: $328,9862023Revenue 2024: $3,191,293Expenses 2024: $3,104,635Net Income 2024: $86,6582024Revenue 2025: $3,443,184Expenses 2025: $3,195,665Net Income 2025: $247,5192025

Highlighted filing

2020

Revenue$2,675,504
Expenses$2,301,677
Net Income$373,827
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Sep 9, 2020
Return Version
2019v5.1
Gross Receipts
$2,675,504
Mission and Program Overview

Mission

Sale of water to rural residents of Rockingham County, North Carolina

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,081,000$6,397,206▲ $316,206
Savings and Temporary Cash Investments$2,539,661$2,314,845▼ $224,816
Investments in Publicly Traded Securities$551,248$595,654▲ $44,406
Accounts Receivable$371,929$447,537▲ $75,608
Intangible Assets$176,192$162,003▼ $14,189
Prepaid Expenses and Deferred Charges$2,557$2,558▲ $1
Cash and Non-Interest-Bearing Accounts$470$470→ $0
Total Assets$9,723,057$9,920,273▲ $197,216
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,171,549$2,938,431▼ $233,118
Accounts Payable and Accrued Expenses$183,840$203,988▲ $20,148
Other Liabilities$160,310$166,564▲ $6,254
Total Liabilities$3,515,699$3,308,983▼ $206,716
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,079,197$6,481,894▲ $402,697
Net Assets With Donor Restrictions$128,161$129,396▲ $1,235
Total Net Assets Fund Balance$6,207,358$6,611,290▲ $403,932
Total Liabilities and Net Assets / Fund Balance$9,723,057$9,920,273▲ $197,216

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,297,511$6,054,467$12,351,978
Buildings$7,628$83,746$91,374
Land$63,317-$63,317
Other Land Buildings$28,750-$28,750
Compensation and Service Providers

Employees

NameTitleBaseTotal
John EdwardsVice President$3,750$3,750
Jean RobertsonTreasurer$3,000$3,000
Marion FieldsPresident$3,000$3,000
Carter CombsSecretary$2,750$2,750
Daniel FargisDirector$1,485$1,485
John Hylton JrDirector$1,375$1,375
Jody RobertsonDirector$1,250$1,250
Jim AndersonDirector$1,125$1,125
Albert StraderDirector$1,000$1,000
Earl GarvinDirector$1,000$1,000
Chris LawDirector$250$250
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,619,407
Investment Income
$37,568
Other Revenue
$18,529
Change in Net Assets
$373,827

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,675,504
Revenue Not Reported on Form 990
$30,105
Total Revenue per Audited Statements
$2,705,609
Total Revenue per Form 990
$2,675,504
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,951,130
Salaries, Compensation, and Employee Benefits$350,547
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$361,237$0$0$361,237
Other Salaries and Wages$306,127$0$0$306,127
Interest$119,309$0$0$119,309
Insurance$82,994$0$0$82,994
Other Expenses$64,919$0$0$64,919
Office Expenses$30,964$0$0$30,964
Fees for Services Other$24,850$0$0$24,850
Payroll Taxes$23,445$0$0$23,445
Pension Plan Contributions$20,975$0$0$20,975
Travel$20,205$0$0$20,205
Fees for Services Management$19,985$0$0$19,985
Information Technology$17,266$0$0$17,266
All Other Expenses$14,944$0$0$14,944
Fees for Services Legal$3,852$0$0$3,852
Advertising$1,143$0$0$1,143
Total Functional Expenses$2,301,677$0$0$2,301,677

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,301,677
Total Expenses per Audited Statements$2,301,677
Total Expenses per Form 990$2,301,677
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits$166,564
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Dan River Water Inc
EIN
56-0901770
Phone
3366232526
Address
610 Patrick Street, Eden, NC 27288

Signing Officer

Name
John Edwards
Title
Vice-President
Phone
3366232526
Signed
2020-09-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Edwards
Formed
1964
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
6
Volunteers
0

Preparer

Firm
J Michael Fargis & Associates LLP
Address
PO BOX 1826, Reidsville, NC 27323
Preparer
Marie F Martin
Phone
3363494372
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

Members are persons who buy water in the service area.

Pt VI, Line 7A

All members are eligible to vote in elections which are advertised and supervised by outside attorneys.

Pt VI, Line 11B

Form 990 is made available for review at the Board meeting in September 2020 prior to the due date of the tax return, November 15, 2020.

Pt VI, Line 19

The Form 990 is made available upon request.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
IRS990/OtherExpensesGrp/ProgramServicesAmt0802149
IRS990/OtherExpensesGrp/ProgramServicesAmt1307181
IRS990/OtherExpensesGrp/ProgramServicesAmt280132
IRS990/OtherExpensesGrp/ProgramServicesAmt364919
IRS990/OtherExpensesGrp/TotalAmt0802149
IRS990/OtherExpensesGrp/TotalAmt1307181
IRS990/OtherExpensesGrp/TotalAmt280132
IRS990/OtherExpensesGrp/TotalAmt364919
IRS990/OtherLiabilitiesGrp/BOYAmt0160310
IRS990/OtherLiabilitiesGrp/EOYAmt0166564
IRS990/OtherRevenueMiscGrp/BusinessCd0221000
IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt018529
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt018529
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueTotalAmt018529
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0306127
IRS990/OtherSalariesAndWagesGrp/TotalAmt0306127
IRS990/OtherSourcesGrossIncomeAmt052091
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt023445
IRS990/PayrollTaxesGrp/TotalAmt023445
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt00
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt020975
IRS990/PensionPlanContributionsGrp/TotalAmt020975
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02557
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02558
IRS990/PrincipalOfficerNm0John Edwards
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/Desc0Water sales
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02619407
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt033656
IRS990/PYOtherExpensesAmt01705011
IRS990/PYOtherRevenueAmt029311
IRS990/PYProgramServiceRevenueAmt02354164
IRS990/PYRevenuesLessExpensesAmt0361009
IRS990/PYSalariesCompEmpBnftPaidAmt0351111
IRS990/PYTotalExpensesAmt02056122
IRS990/PYTotalRevenueAmt02417131
IRS990/ReconcilationRevenueExpnssAmt0373827
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02637936
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02539661
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02314845
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt07628
IRS990ScheduleD/BuildingsGrp/DepreciationAmt083746
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt091374
IRS990ScheduleD/EquipmentGrp/BookValueAmt06297511
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06054467
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt012351978
IRS990ScheduleD/ExpensesSubtotalAmt02301677
IRS990ScheduleD/LandGrp/BookValueAmt063317
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt063317
IRS990ScheduleD/NetUnrealizedGainsInvstAmt030105
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt028750
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt028750
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0166564
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deposits
IRS990ScheduleD/RevenueNotReportedAmt030105
IRS990ScheduleD/RevenueSubtotalAmt02675504
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06397206
IRS990ScheduleD/TotalExpensesPerForm990Amt02301677
IRS990ScheduleD/TotalLiabilityAmt0166564
IRS990ScheduleD/TotalRevenuePerForm990Amt02675504
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02705609
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02301677
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Members are persons who buy water in the service area.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All members are eligible to vote in elections which are advertised and supervised by outside attorneys.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 is made available for review at the Board meeting in September 2020 prior to the due date of the tax return, November 15, 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Form 990 is made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt09723057
IRS990/TotalAssetsEOYAmt09920273
IRS990/TotalAssetsGrp/BOYAmt09723057
IRS990/TotalAssetsGrp/EOYAmt09920273
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02301677
IRS990/TotalFunctionalExpensesGrp/TotalAmt02301677
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03515699
IRS990/TotalLiabilitiesEOYAmt03308983
IRS990/TotalLiabilitiesGrp/BOYAmt03515699
IRS990/TotalLiabilitiesGrp/EOYAmt03308983
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06207358
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06611290
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02301677
IRS990/TotalProgramServiceRevenueAmt02619407
IRS990/TotalReportableCompFromOrgAmt019985
IRS990/TotalRevenueGrp/ExclusionAmt037568
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02637936
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02675504
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09723057
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09920273
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt020205
IRS990/TravelGrp/TotalAmt020205
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0610 Patrick Street
IRS990/USAddress/CityNm0Eden
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027288
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0John Edwards
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Vice-President
ReturnHeader/BusinessOfficerGrp/PhoneNum03366232526
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-09

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$10.5$2.10$8.45$3.44$3.20$0.25
2024Detailed filing. Detailed filing data is available for this year.$10.7$2.49$8.16$3.19$3.10$0.09
2023Detailed filing. Detailed filing data is available for this year.$10.9$2.82$8.03$2.96$2.63$0.33
2022Detailed filing. Detailed filing data is available for this year.$10.5$2.79$7.69$2.76$2.17$0.59
2021Detailed filing. Detailed filing data is available for this year.$10.1$2.96$7.12$2.73$2.21$0.52
2020Detailed filing. Detailed filing data is available for this year.$9.92$3.31$6.61$2.68$2.30$0.37
2019Summary only. Only limited summary data is available for this year.$9.72$3.52$6.21$2.42$2.06$0.36
2018Summary only. Only limited summary data is available for this year.$9.54$3.74$5.81$2.29$2.07$0.22
2017Summary only. Only limited summary data is available for this year.$9.66$4.08$5.59$2.05$1.83$0.22
2016Summary only. Only limited summary data is available for this year.$9.36$3.99$5.37$2.04$1.77$0.28
2015Summary only. Only limited summary data is available for this year.$9.03$3.94$5.09$1.96$1.59$0.36
2014Summary only. Only limited summary data is available for this year.$8.81$4.08$4.73$1.90$1.60$0.30
2013Summary only. Only limited summary data is available for this year.$8.74$4.31$4.43$1.82$1.60$0.22
2012Summary only. Only limited summary data is available for this year.$8.11$3.91$4.21$1.87$1.62$0.25
2011Summary only. Only limited summary data is available for this year.$7.55$3.60$3.95$1.92$1.62$0.31