EFTA01127919

2012 TAX RETURN FILING INSTRUCTIONS U.S. RETURN OF PARTNERSHIP INCOME FOR THE YEAR ENDING DECEMBER 31,, 2012 Prepared for BJAV MARINE, LTD 760 PARK AVENUE, STE # 7 NEW YORK, NY 10021 Prepared by RAICH ENDE MALTER & CO., LLP 1375 BROADWAY NEW YORK, NY 10018 To be signed and A PERSON AUTHORIZED TO SIGN THE RETURN dated by Amountoftax NOT APPLICABLE Mailtaxmtwm THIS RETURN HAS BEEN PREPARED FOR ELECTRONIC FILING. TO HAVE to IT TRANSMITTED ELECTRONICALLY TO THE IRS, PLEASE SIGN, DATE, AND RETURN FORM 8879-PE TO OUR OFFICE. WE WILL THEN SUBMIT YOUR ELECTRONIC RETURN. Fonrstobe ENCLOSED ARE COPIES OF SCHEDULE K-1 TO BE DISTRIBUTED TO THE distributed PARTNERS. to partners Return must be NOT APPLICABLE methadon or before Special DO NOT MAIL THE PAPER COPY OF THE RETURN TO THE IRS. Instructions CLIENT'SCOPY 210145 0601.12 EFTA01127919 li.S e-file Signature Authorizatk...i 0 U No. 150-2042 ram8879-PE for Form 1065 Deortmml ol In. Ti001/rY Immo, RIWOrga Sanwa ► Do not send to the IRS. Keep for your records. ► See instructions 2012 For canine year 2011, or tax my Onion:NI . 2012 end,; Name of partnership number BJAV MARINE, LTD I Patti' Return Information photo dolers only) 1 Gross receipts or sales less returns and allowances (Form 1065, kne 1c) 3,206,396. 2 Gross profit (Form 1065, line 3) 3,206,396. 3 Ordinary business Income (loss) (Form 1065, line 22) -2,890,234. 4 Net rental real estate income (loss) (Form 1065, Schedule K, line 2) 4 5 Other net rental income (loss) (Form 1065, Schedule K, line 3c) 5 [Part II Declaration and Signature Authorization of General Partner or Limited Liability Company Member Manager (Be sure to get a copy of the partnership's return) Under penalties of perjury, I declare Mat I am a general panner or limited liability company member manager of the above partnership and that I have examined a copy of the partnershp's 2012 electronic return of partnership income and accompanying schedules and statements and to the best of my knowledge and belief, it is true, correct, and complete. I further declare that the amounts n Part I above are the amounts shown on the copy of the partnership's electronic return of partnership Income. I consent to allow my electronic return originator (ERO), transmitter, or intermediate service provider to send the partnership's return to the IRS and to receive from the IRS (a) an acknowledgemeM of receipt or reason for rejection of the transmission and (b) the reason for any day In processing the return. I have selected a personal identification nurnber (PIN) as my signature for the partnership's electronic return of partnership Income. General Partner or Limited Liability Company Member Manager's PIN: check one box only UplauthorgeRAICH ENDE MALTER & CO., LLP to enter my PIN! ERO firm name do not enter all zeros as my signature on the partnership's 2012 electronically fled return of partnership income. C As a general partner or limded liability company member manager of the partnership. I wll enter my PIN as my signature on the partnership's 2012 electronically filed return of partnership income. General partner or limited liability company member manager's signature ► Title ► MANAGER/DIRECTOR Date ► Part III I Certification and Authentication ERO's EFIN/PIN. Enter your six-digit EFIN followed by your five-digrt self selected PIN. tlo not enter ale zeros I certify that the above numeric entry is my PIN, which Is my signature on the 2012 electronically filed return of partnership income for the partnership indicated above. I cortfrm that I am submitting this return in accordance with the requirements of Pub. 3112, IRS e•drle Application and Participation, and Pub. 4163, Modernized °Fie (MeF) Information for Authorized IRS e-fik Providers for Business Returns. ERO's signature ► Date ► ERO Must Retain This Form - See Instructions Do Not Submit This Form to the IRS Unless Requested To Do So For Paperwork Reduction Act Notice, see instructions. Form 8879-PE (2012) LHA 221031 11.15.12 EFTA01127920 U.... Return of Partnership 'noon. 1065 OMB No. tS410090 Foss Ciosticerrsoi 04 the Treasury Sarno! Revenue Service A Pilnetiol boa's.** easily Per colonder raw 2012, et la; yew bascirnng EXTENSION GRANTED TO 09/16/17-- Nome co oenneniblir . ending 2012 0 Colons* IdenOtwaton CHARTERING BJAV MARINE, LTD a Principal procksal or wawa Print !rumba. fl eet androom or gulls .0.e. P.O,bah amp the IrstruolOns. E Delo Dinh's,' stoned Of CHARTER OCEAN M".760 PARK AVENUE, STE 1 7 03/10/2011 VESSEL Gay or town. Oats, and ZIP aide F loi ass Es thativioo Ocelo nuoitor NEW YORK NY 10021 522,207,986. G Check applicable boxes: (1) L3 Initial return (2) IJ Fnal return (3) LJ Name change (4) LJ Address change (5) LJ Amended return (6) C Technical termination - also chock (1) or (2) H Check accounting (natio& (1) El Cash (2) CU Accrual (3) El Other (specify) 10,- I Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year 10- 2 .1 Check II Schedules C and /.1-3 are attached Caution. Include only trade or business income andexpenses on fines Thr throegh 22 below. See the Ms:ructions for mote in °anchor). 1 a Gross receipts or sales le 3,206,396. b Returns and alowances lb e Balance. Subtract Me lb from ire la le 3,206,396. • 2 Cost of goods sold (attach Form 1125-A) 2 € 3 Gross profit. Subtract line 2 from line lc 3 3,206,396. 8 c 4 Ordinary Income (loss) from other partnerships, estates, and trusts (attach statement) 4 5 Net gum profit (loss) (attach Schedule F (Form 1040)) 5 6 Net gain (loss) from Form 4797, Part II, inc 17 (attachForm 4797) 6 7 Other Income (loss) (attach statement) 7 8 Total Income (loss). Combine Ines 3 through 7 e 3,206,396. 9 Salaries and wages (other than to partners) (lessemployment credits) 9 1,404,060. Deductions (see the instructions for imftations) 10 Guaranteed payments to partners 10 11 Repairs and maintenance STMT ? 11 919,406. 12 Bad debts 12 13 Rent 13 14 Taxes and licenses 14 15 Interest 15 16 a Depreciation (if required, attach Form 4562) 1N 1,308,859. 1, b Less depreciation reported on Form 11254 and elsewhere on return 1 ift 1,308,859. 17 Depletion (Do not deduct ell and gas depiedon.) 17 18 Retirement plans, etc. 18 19 Employee benefit programs 19 11,108. 20 Other deductions (attach statement) SEE STATEMENT 1 20 2,453,197. 21 Total deductions. Add the amounts shown in the Far right column for Ines 9 through 20 21 6,096,630. 22 Ordinary business Income (loss). Subtract inc 21 from line 8 n -2,890,234. pinked piney.10.4twe ;bellboys scarninco Iwo return. scludng occentparweg screduies and ottemanls.iSend bawd MO Beet Of my kncrecgo and oast ;1;alms. tO at all inkornalion ol wrwli Inflow has Goy cceci. and corwlete Omission el mops. (one Sion general pence or Ignited lotIlrly COMPr ',Web.' fren•Cle kroxleage M.y the , dlocusa Oils raisin, Sign Here wilily* IMAM' town below 10 Sgtozoie of general coring or lisinini mashy corpses. miralhar masonic O. Data Me ns. 17 M Yes C No PrirriTYPoPop,ver's oats ninalers sigmas* Oak Check LJ 0 Prim ast•rnSnied Paid THOMAS TURRIN Prana rer Flute non pg. UseOniy RAICH ENDE HALTER & CO., LLP Fran GIN Pints aCliftSS 01375 BROADWAY NEW YORK, NY 10018 Phone no. LHA For Paperwork Reduction Act Notice, see separate instrections. Form 1065 (2012) 211001 12-31.1Z EFTA01127921 Form 1065 (2012) BJAV MARINE, ,J.CD Page 2 ":SOhedSStBI Other Information 1 What type of entity is fling this return? Check the wiles* box Yes No a - Domestic general partnership 0 C Domestc limited partnership c O Domestic limited Utility company d 0 Domestt Fruited that), partnership 1;!irr e IA Foreign partnership f Q Other Ile- , . . . 2 At any time during the tax year, was any partner in the partnership a dsregarded entity, a partnership (Including an entity treated as a partnership), a trust, an S corporation, an estate (other than an estate of a deceased partner), or a nominee or similar person? 3 Al the end of the tax year. a Did any foreign or domestic corporation, partnership (Including any entity treated as a partnership), trust, or tax-exempt organization, or any foreign government own, directly or Indirectly, an interest of 50% or more in the profit, loss, or capital of the partnership? For rules of constructive ownership, see instructions. If Yes,' attach Schedut B-1, Information on Partners Ovinitg 50% or More of the Partnership X b Did any Individual or estate own, directly or Indirectly, an Interest of 50% or more in the profit, loss, or capital of the partnership? For rules of constructive ownership, see instructions. If Yes,' attach Schedule 8.1. Information on Partners Owning 50% or More of the Partnership X 4 At the end of the tax year, did the partnership: ' a Own directly 20% or more, or own, fl eetly or indkectly, 50% or more of the total voting power of all asses of stock entitled to vote of any foreign _ .,. . .,... or domestic corporation? For rules of constructive ownership, see instruction . If Yes; complete (i) through (iv) below X @Name of Corporation (II)EnCirVer (III) Country of 0 ") Porterage Identilicatian Owned 0 Marrow 01 wry/ incorporation Wing mock b Own drectly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more ki the profit, loss, or capital in any foreign or domestic partnership (Including an entity treated as a partnerstp) or in the benefcial merest of a trust? For rules of constructive ownership, see instructions. If Yes; complete (I) through (v) below X (I)Name of Entity low(ii) Fi.r e ar 010 Type of Entity (iv)Country of ti Pinyon PertalN Doled in 0200 Organization Prot loss,orCna Yes No S Did the partnership Me Form 8893, Election of Partnership Level Tax Treatment, or an election statement under section 6231(a)(1)(8)(h) for partnershiptvel tax treatment, that is in effect for this tax war? See Form 8893 for mere delais 6 Does the partnership satisfy all four of the following conditions? a The partnership's total receipts for the tax year were less than 2250,000. ''''' ='?"- b The partnership's total assets at the end of the tax year were less than $ 1million. c Schedules K-1 are filed with the return and furnished to the partners on or before the due dale (Including extensions) for the partnership return. d The partnership is not ling and is not required to file Schedule 11-3 If Yes; the partnership is not required to complete Schedules L, M-1, and M-2; item F on page 1 of Form 1085; or Item L on Schedule K-1. 7 ts this partnership a publicly traded partnership as defined h section 469(k)(2P 8 During the tax year, did the partnership have eny debt that was cancekd, was forgiven, or had the terms modified so as to reduce the principal amount of the debt? X 9 Its this partnership filed, or is it required to fle,Form 8918, Mahal Advisor Disclosure Statement, to provide information on any reportable transaction? X 10 At any time during calendar year 2012, did the partnership have an interest in or a signature or other authority over a financial account In a .... foreign country (such as a bank account, securities account, or other financial account)? See the instructions for exceptions and tiling requirement for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts. ti Yes; enter the name of the foreign county. llo. X Form 1065 ;2012r 211011 17.31.12 2 EFTA01127922 Form 1065 (2012) BJAV MARINE, uPD Paoe 3 :Sciiaideie'BI Other Information Yes No II At any time during the tax year, did the partnership receive a distrbulion from, or was k the grantor ol, or transteror to, a foreign trust? If 'Yes, The partnership may haw to fie Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gilts. . .....,..... See Mstructions 12a Is the partnership making, or had it previously made (and not revoked), a section 754 election? See instructions for details regarding a section 754 election. ,)t_,-; b Did the partnership make for this tax year an optional basis adjustment under section 743(b) or 734(biftYes; attach a statement showing the computation and alocation of the basis adjustment. See instructions X c Is the partnership required to adjust the basis of partnership assets under section 74394 or 734(b) because of a substantial bust-in loss (as defined under section 743(d)) or substantial basis reduction (as defined under section 734(d))? II Yes: attach a statement showing the computation and allocation of the basis adjustment. See instructions X 13 Check this box if, during the current or prior tax year, the partnership distributed any properly resealed in a like-kind exchange or contributed such .,.94?..,.. j,"`:1 • . ..,, property to another entity (other than disregarded entities wholy-owned by Um partnersNp throughout the lax year) Ika• M .... '-'• • 14 At any time during the tax year, did the partnership distribute to any partner a tenancy-in-common or other un*vtded rarest in partnership Properly! X 15 If the partnership is required to file Form 8858, Information Return of U.S. Persons With Respect To Foreign Disregarded Entities, enter the number of Forms 8858 attached. See Instructions Illo 16 Does the partnership have any foreign partners? If Yes; enter the number of Forms 8805, Foreign Partners Information Statement of Section 1446 Withholding Tax, tied forts partnership. OP X 17 Enter the number of Forms 8865, Return ol U.S. Persons With Respect to Certain Foreign Partnerships, attached to this return. ler. llta Did you make any payments in 2012 that would require you to file Form(s) 1099? See instructions X b It Yes; did you or will you file required Form(s) 1099? 19 Enter the number of Form(s) 5471, Information Return of U.S. Persons With Respect To Certain Foreign Corporations, attached to this return. Ila• 20 Enter the number of partners Mat are foreign governments under section 892. Illa• Designation of Tax Matters Partner (see instructions) Enter below the general partner or member-manager designated as the tax matters partner (TMP) for the tax year of this return: Name of Identifying designated TMP 94 EILEEN ALEXANDERSON, DIRECTOR/ MANAGER number of IMP ► If the IMP is an entity,name of IMP Phone representative ► number ol TMP ► Address of kb designated IMP Form 1065 (2012) 211021 1231. it 3 EFTA01127923 Form 1065 2012 BJAV MARINE, iD Page 4 I SOliedtihiEl Partners' Distributive Share Items Total *moot 1 Ordinary business income (loss) (page 1, line 22) 1 -2,890,234. 2 Net rental real estate income (loss) (attach Form 8825) 2 3 a Ma gross rental income (loss) b Expenses from other rental activitis (attach statement) I III c ether net rental Income (loss). Subtract line 3b from line 3a So 4 Guaranteed payments 4 Income (Loss) 5 Interest income 5 6 Dividends: a (kanary dividends It b Qualified dividends 1 716I illi 7 Royaltes 7 8 Net short-tam capital gain (loss) (attach Schedule D (Form 1065)) 8 9 a Net longterm capital gain (loss) (attach Schedule 0 (Form 1065)) 9a b Collectibles (28%) gain (loss) e Unrecaptured section 1250 gain (attach statement) 10 Net section 1231 gain (loss) (attach Form 4797) 10 11 Other income (loss) (see instructions) TypeIl. 11 12 Section 179 deduction (attach Form 4562) 12 1 13 a Contntutions 13a b Investment interest expense 13b 2 a Section 59(eX2) expenditures: (1)TYPOIP (*Amount Illi• 1302) d Other deductions (see instructions)Typoilla 136 , fr, m— c 14 a Net earnings (loss) from selEemploymeat 14a 0. zip b Gross farming or fishing income Plb e Gross nonfarm income 14c 16 a Low-income housing credit (section 420(5)) 15a b Low-Mcome housing credit (other) 15b 31 — e Gushed rehabilitation expenditures (rental real estate) (attach Form 3468) 15c 5 d Other rental real estate credits (see instructions) e Other rental meat (see instructions) Type SP Type,. 15d 15e I Other credits (see instructions) Type la 151 to a Name of country or U.S. possession la b Gross income from al sources 16b c Gross income sourced at partner level 16c Foreign Transactions Foreign gross income sourced at partnership level — _ , Prsthe m nt"? .._or e General category .. Ila• l Other p. 16f Deductions aerated and apportioned at partner level .,. g Interest expense Ile• n Other ili.. 162 Deductions allocated and apportioned at partershia levet to foreign source income . Paulx I 011907 P► r .... I General category _ illo k Oter IP 16k I Total foreign taxes (check one): IP. Paid 0 Accrued 161 mReduction in taxes avalable for credt (attach statement) 16m n Other foreign lax information (attach statement) 17 a Post•1986 depreciation adjustment 17a Minimum Tax Altai -tabVe b Adjusted gain or loss 17b c Depletion (other than el and gas) 17o (AMT) Items 0 Oil, gas, and geothermal properties • gross income 17d e Oil, gas, and geothermal properties • deductions 17e I Other AMT items (attach statement) 17f 18 a Tax-exempt Interest income lea Other Information b Other tax-exempt income lab c Nondeductible expenses SEE STATEMENT 3 tie 21,500. 19 a Distrtutions of cash and marketable securities tfla b Ens/buttons of other property 196 20 a Investment income 20a b Investment expenses 20b e Other items and amounts (attach statement) form 1065 r2012j 211041 1241.12 4 EFTA01127924 RormZ(2012) BJAV MARINE, ' 13 Analysis of Net Income(Loss) S aes Mat Inane Boat -2,890,234. 2 Analysis by (Ii)Indiedual (iii) Individual (v)Exempt (I)Corporate (active) (passive) (W)Partnership organization (vi)Nominee/Other partner type: s General partners -2,861,332. b Lirrited partners -28,902. Scitiodide LI Balance Sheets per Books Beginning of lax year End of tax year Assets (a) b) (c) (d) 1 Cash 1,190. 194,978. 2a Trade notes and accounts receivable b Less allowance Ice bad debts 3 Inventories 4 LIS. government obligations 5 Tax•exempt securites 6 Other current assets (attach statement) 7atemwmtuneruesommilw.00iimmu_ b Mortgage and real estate loans Other investments (attach statement) 9a Buildings and other depreciable assets 22,503,742. 23,643,790. b Less accumulated depreciation 529,569. 21,974,173. 1,838,428. 21,805,362. 10a Depletable assets b Less accumulated depletion 11 Land (net of any amortization) 12a 'Menai* assets (amortizable only) 231,193. 231,193. b Less accumulated amortization 107703. 220,490. 23,5477 207,646. 13 Other assets (attach statement) 14 Total assets 22,205,853 22,207,986. Liabilities and Capital 15 Accounts payable 133,273. 165,993. 16 uxtgaals. notes, bona payable in mat ran 1 year 17 Other current liabilities (attach statement) STATEMENT 4 66,02. 1. 34,493. 18 Al nonrecourse loans 19a Lawn hart pans to meson rebatedto permit Martgagia. Nita bonds payable S 1 yeas or mole 20 Other liabilities (attach statement) 21 Partners' capital accounts 22,006,559. 22,007,500. 22 Total liabilities and capital 22,205,853. 22 207,986. SithatitiltMall Reconciliation of Income (Loss) per Books With Income Loss) per Return Note. Schedule he3 may be required Stead ot Schedule 11.1 (see instructions). I Net income (loss) per books 6 Income recorded on books this year not included 2 Income included on Schedule K, lines 1, 2.3c, on Schedule K, lines 1 through 11 (itemize): 5,6a, 7,8, 9a, 10, and 11, not recorded on books a Tax-exempt iaterest $ this year (itemize): 3 Guaranteed payments (other than health 7 Deductions included on Schedule K, Ines 1 Insurance) through 13d, and 161, not charged against 4 Capron nacenciad on books tea year not Included on book income this year (itemize): Salad* K. lbws I tnecugh 134. and tel Ow** a Depreciation $ a Depreciation $ 8 Add lines 6 and 7 0 Travel and entertainment $ 9 Income (loss) (Analysis of Net Income (Loss), 5 Add lines 1 through 4 line 1). Subtract line 8 from line 5 l Sew-dole TA-21 Analysis of Partners Capital Accounts 1 Balance at beginning of year 22,006,559. 6 Distributions: a Gash 2 Capital contrbuted: a Gash 2,912,675. b Properly b Property 7 Other decreases (itemize): 3 Net income (loss) per books -2,911,734. 4 Other Increases (Itemize): 8 Add lines 6 and 7 $ Add lines 1 through 4 22,007,500. 9 piton aendd yew. Sulanel anealromins I 22,007,500. 12.31.12 5 Earn 1085 (2012) EFTA01127925 SCHEDULE B-1 Information on Partners Owning bulo or (Form 1065) (Rev. December 2011) More of the Partnership OMB No. 15450399 Pepe:tort on I S Treasury Inatmel Revenue Sava Attach to Form 1065. See Instructions. Name of partnership Empbyet ideolibobico rather BJAV MARINE, LTD riffirir Entities Owning 50% or More of the Partnership (Form 1065, Schedule B, Question 3a) Complete columns (I) through (v) below for any foreign or domestic corporation, partnership (Including any entity treated as a partnership), trust, tax•exempt organization, or any foreign govemment that owns. drectly or indirectly, an interest of 50% or more in the profit, loss, or capital of the partnership (see instructions). (0 Name of Entity (1i) Employer (v) Maximum Identification Type of Entity Country of Organization Percentage Owned Number (f any) In Profit Loss, or Capital Part II Individuals or Estates Owning 50% or More of the Partnership(Form 1065, Schedule B, Question 3b) Complete columns () through (iv) below for any individual or estate that owns, directly or indirectly, an interest of 50% or more in the profit, loss, or capital of the partnership (see Instructions). () Name of Individual or Estate (i) Identifying (i) Country of Citizenship (see instructions) (iv) Maximum Number (if any) Percentage Owned in Profit, Less, or Capital LEON D BLACK UNITED STATES 100.00 DEBRA BLACK UNITED STATES 100.00 LHA For Paperwork Reduction Act Notice, see the Instructions for Form 1065. Schedule B-I (Form 1065) (Rev. 12-2011) 224551 050112 6 EFTA01127926 SCHEDULE C (Form 1065) Additional Information for Schedule M-3 Filers pen. December 2011) OMB No. 1545.8099 DepoerrentNCemway Ar.ach to Form 1065. See separate instructions. Inuttna1Remme Sores Name of partriershet Employs elenliSzoten number BJAV MARINE, LTD At any time during the tax year, were there any transfers between the partnership and its partners subject to the disclosure requirements of Regulations section 1.7074? 2 Do the amounts reported on Schedule Ili-3, Part II, Ines 7 or 8, column (d), reflect allocations to this partnership from another censorship of income, gain, loss, deduction, or credit that are disproportionate to this partnership's share of capital in such partnership or its rata for sharing other items of such partnership? 3 At any time during the tax year, did the partnership sell, exchange, or transfer any interest in an Intangible asset to a related person as defined in sections 267(b) and 707(b)(1)? At any time during the tax year, diddle partnership acquire any interest in an intangible asset from a related person as defined n sections 267(b) and 707(b)(1)? 5 At any time during the tax year, did the partnership make any change in accounting principle for financial accounting purposes? See instructions for a definition of change in accounting principle 6 At any time during the tax year, did the partnership make any change in a method of accounfeig for U.S. income tax purposes? ,NIA For Paperwodc Reduction Act Notice, see the Insimetions for Form 1065. Soltedule C (Forme 1086) (Rev. tt-1011) 211151 05-01.12 7 EFTA01127927 SCHEDULE M-3 het Income (Loss) ReconciliatiL..i OMB No .54501 (Form 1065) for Certain Partnerships Depart/9ml ofIN Trenton InntnW FlwantoSet Ile. Attach to Form 1065 or Form 1065-B. ► Information about Schedule M3 (Form 1065) and its instructions is at .irsgovflorm1066. 2012 Name of partnership Employer identl5c alien number BJAV MARINE, LTD This Schedule M-3 is being filed because (check all that apply): A an The amount of the partnership's total assets at the end of the tax year is equal to $10 milion or more. M The amount of the partnership's adjusted total assets for the year is equal to S10 million or more. It box B is checked, enter the amount of adjusted total assets for the tax year 25,119,720. . C 0 The amount of total receipts for the tax year is equal to $35 milbon or more. If box C is checked, enter the total receipts for the tax year D 0 An entity that is a reportable entity partner with respect to the partnership emits ors deemed to own an interest of 50 percent or more in the partnership's capital, profit, or loss, on any day during the tax year of the partnership. Maximum Percentage Owned or Name of Reportable Entity Partner Identifying Number Deemed Owned E Voluntary Filer Part I Financial Information and Net Income (Loss) Reconciliation to Did the partnership He SEC Form 10•K for its income statement period ending with or within this tax year? 0 Yes. Sit lines lb and lc and complete lines 2 trough 11 with respect to that SEC Form 1044. CZ No. Go to line tb. See instructions if muklple non-tax-basis income statements are prepared. b Did the partnership prepare a certified audited non-tax-basis income statement for tat period? Yes. Skip line lc and complete lines 2 through 11 with respect to that income statement M No. Go to line lc. e Did the partnership prepare a non-tax-basis income statement for that period? El Yes. Complete lines 2 through 11 with respect to that income statement M No Skip lines 2 through 3b and enter the partnuship's net income (loss) per its books and records on line 4a. 2 Enter the income statement period: Beginning Ending 3a Has the partnership's income statement been restated for the income statement period on tine 2? 0 Yes (If Yes:attach a statement and the amount of each item restated.) 0 No. b Has the partnership's income statement been restated for any of the five income statement periods preceding the period on line 2? Yes. (II Yes; attach a statement and the amount of each item restated.) No. 4a Wortdwi0e consolidated net income (loss) from income statement source identified in Part I, line 1 4a -2,911,734. b Indicate accounting standard used for line ea (see instructions): 1U 2 IFRS 3 El 704(b) 4 C23 Tax-basis 5 0 Other: (specify)Ilh. 6a Net income Iran nonIncludble foreign entities (attach statement) Sa b Net loss from nonincludible foreign entities (attach statement and enter as a positive amount) 5b 6a Net income from nonincbdible U.S. entities (attach statement) 6a 0 Net loss from nonneludible U.S. entities (attach statement and enter as a positive amount) 6b 7a Net income (loss) of other foreign disregarded entities (attach statement) 7a b Net income (loss) of other U.S. disregarded entities (attach statement) re II Adjustment to eliminations of transactions between Includible entities and nonincludible fettles (attach stint) 9 Adjustment to reconcile income statement period to tax year (attach statement) . 9 10 Other adjustments to reconcile to amount on line 11 (attach statement) 10 11 Nat income (loss) per Income statement of the partnership. Combine lines ea through 10 11 —2,911,734. Note. Part I, face 11, must equal the amount on Part II, One 26, column (a). 12 Enter the total amount (not just the partnership's share) of the assets and liabilities of all entitles Included or removed on the following lines: Total Assets Total Liabilities a included on Part I, Fine 4 22,207,986. 200,486. b Removed on Part I, fine 5 c Removed on Part li ens 6 d Included on Part I, line 7 For Paperwork Reduction Act Notice, see the Instructions for your return. Schedule M•3 (Form 1005) 2012 210991 113O-12 NIA 8 EFTA01127928 Wade* PA.3 cram 1065)2012 Page 2 Name of partnushe E ml BJAV akRI NE , LTD Reconciliation of Net Income (Loss) per Income Statement of Partnership with rncome oss per Part II Return (a) (h) (o) (d) Income (Loss) Items Income (Loss) per Temporary Permanent Income (Loss) per Income Statement Difference Difference Tax Return (Attach statements for Ines 1 through 9) I Income Cosa tern nay methed Wean caparettons 2 Gass at:, dints not . Saipan F. Off.ma ens 6 :sane ealusierts 4 Gals kale &groans L.mbrztitractccepcincinverAv S rMhod 6 usovuenris 7 Income (loss) from U.S. partnerships a harm Ocala tom laden palnerehai 9 roomsteati tarn oar peva apoa 10 VIInisarceatanl=arenirt) 11 Interest income (attach Form 8916-A) 12 Total accrual to cash adjustment 13 Hedging transactions 14 Mark-to-market income (loss) 15 Cost of goods sold (attach Form 8916-A) ( ) ( ) 16 Sale verlior (tot Win Ma 17 Section 481(a) adjustments 18 unearned/deferred revenue 19 rnrr=tr.in 20 Originalint= gort and 21e Income statement gainnoss on sale, exchange, abandonment, worthlessness, or other disposition of assets other than inventory and pass-through entities tabwo.*xttib.::::.- b Gross capital gains from Schedule 0, excluding amounts from pass-through entities c Cross capital losses from Schedule D, excluding amounts from pass-through entitles, abandonment losses, and worthless stock losses d Net gam/loss reported on Form 4797, line 17, excluding amounts from pass-through entities, abandonment losses, and worthless stock losses e Abandonment losses I 1aslc=lack losses (Cloth 9 bow ten/10ss at depalten el matt Otter thin Inventory 22 V=InTLIVerg;gi 23 Total hiclOmil (Ion) Items. Combine lines 1 through 22 24 Total expense/deduction Items (korn Put III, tine 31) (sae instructions) -1,364,703. 21,500. -1,343,203. 25 Other tents with no differences .....,$,M, ...§„, -1,547,031. --, -='; -1,547,031. 26 Reconciliation totals. Combine lines 23 through 25 -2,911,734. 21,500. -2,890,234. Note. Line 26, column (a), must equal the amount on Part I, line 11, and column (d) must equal Form 1%5, Analysis of Net Income (Loss), line 1. .Ar/A Schedule M-3 (Form 1085)2012 2,0992 9 EFTA01127929 $44.4,,l. 0.1,3 ram 5540) 2012 Page 3 Name of Donnish° umber BJAV MARINE, LTD Reconciliation of Net Income (Loss) per Income Statement of Partnership With ncome oss) per Part III Return - Expense/Deduction Items (m) {b) (c) (0) Expense/Deduction Items Evense per Temporary Permanent Deduction per Income Statement Difference Difference Tax Return 1 State and local current income tax expense 2 State and local deferred income lax expense 3 Foreign current income tax expense (other than foreign withholding taxes) 4 Foreign deferred income tax expense 5 Equity-based compensation 6 Meals and enterlammem STMT 8 43,000. -21,500. 21,500. 7 Fines and penalties 8 stivirmftrymawann. 9 Guaranteed payments 10 Pension and profit-sharing 11 Other post-retirement benelks 12 Deferred compensation 13 8/writable contribution of cash end tangible properly owns. careribulivela 14 intangbli woperry 15 Organizational expenses as per Regulations section 1.793-2(a) IS syndication *sans.% es per FI•galegons imam 1.71:45205) _ 17 Current year acquisitioiVreorganizatkin investment banking fees 18 Current year acquisitkinkeorganizatkin legal and accounting fees 19 Arnoritrallonfimpairment of goothvil 20 Amortization of acquisition, reorganization, and start-up costs 21 '.7.;:x..ttror. STMT p 12,844. 12,844. 22 racer In onvirornsital nlewwl more 23a Depletion • Cal & Gas b Depletion - Other than Oi & Gas 24 Intangible drilling & development costs 25 Depredation 1,308,859. 1,308,859. 28 Bad debt expense 27 Interest expense (attach Form 8916-A) 28 Purchase versus lease (for purchasers and/or lessees) 29 Paved, and Osvotopenen. men 30 Other expense/deduction hems with differences (attach statement) 31 Total event/deduction Items. Combine lines 1 through 30. Enter here and on Part II, line 24, reporting positive amounts as negative and negative amounts as positive 1,364,703. -21,500. 1,343,203. JWA Sckeduk M-3 (Four 1066) 2012 253993 10 EFTA01127930 one No. 1545.0172 ;am 4562 Depreciation and Amortization 2012 neconnent 04 the Treasury (Including Information on Listed Property) OTHER 1 MadWint Warne Reveres Sereta In) ei• See separate instructions. lin• Attach to yotr tax return. 51:01011011 NO. 179 tamieleWmmmUm Businass a Gayety to levee fru Ire Sates Centering number CHARTERING OF OCEAN BJAV MARINE, LTD VESSEL I Partl I Election To Espouse Certain Property Under Section 179 Note:If you hew any listed property, complete Pert V before you complete Part I. 1 Markman amount (see Instructions) 1 2 Total cost of section 179 property placed In service (see Instructions) 2 3 TIveshoid cost of section 179 property before reduction In imitation 3 4 Reduction in fimltation. Subtract Ina 3 from tine 2. If zero a less, enter 4 5 CIS fifteen., tioc year. &beadles 4 tom ino 1. a NM a tees. my .0•. It merited tali asnir.eea ireausere 5 6 to CesoinVen of oitotety pease patronise WO (0Eleeted ear 7 Listed property. Enter the amount from line 29 7 Total elected cost of section 179 properly. Add amounts in column (c), Ines 8 and 7 8 9 Tentative deduction, Enter the smaller of Me 5 or Me 8 9 10 Carryover of disallowed deduction from IMe 13 or your 2011 Form 4562 10 11 Business income imitation. Enter the smaller of business income (not less than tern) or Me 5 11 12 Sector; 179 expense deduction. Add tines 9 and 10, but do not enter more than Me 11 12 13 Carryover of disallowed deduction to 2013. Add Ines 9 and 10, less Me 12 Id 13 I Note: Do not use PartII or Part IM below for fistedproperty. Instead, use Part V. Part It I Special Depreciation Allowance and Other Depreciation (Do not include listed property.) 14 Special depreciation allowance for quailed property (other than fisted propeny) placed in service during the tax year 14 15 Property subject to section 168(0)(1) election 15 16 Other deprecation (Including ADM vannlatal 16 I Part Intl MACRS Depreciation (Do not include fisted property.) (See instructions.) Section A 17 MACRS deductions for assets placed in service In tax years beginning before 2012 17 1,270,949. 18 gnu we /tenting to Tao any asSetS elated In UMW wane ee tax yew nto ate a mac general asset accrutts. tate* are Section B - Assets Placed in Service During 2012 Tax Year Using the General Deprecation System S) Mont and k)ariabde0reetnenn undastecntka of poor, year awn CoulaunearreetUrer4 us. (d) ono Nal.'" al) 000.1•1110.1 te) Melted eaKtepierateree donator, In $w.ce my • sea Matruteces) 19a 3'year property b 6year property c 7•Year property d 10 year property e 16year property t 20 year property g 25-year property 25 yrs. S/L / 27.5 yrs. MM S/L h Residential rental property / 27.5 yrs. MM St / 39 yrs. MM S/L I Nonresidential real property / MM S/L Section C - Assets Placed in Service During 2012 Tax Year Using the Alternative Depreciation System 20a Class lite 1,143,547. VARIES HY set 37,910. b 12-year 12 yrs. SA. c 40-year / 40 yrs. MM S/L Part IV'i Summary (See Instructions.) 21 Listed property. Enter anoint from line 28 21 22 Total. Add amounts from line 12. lines 14 through 17, lines 19 and 20 in column (g), and ine 21. Enter here and on the appropriate lines of your return. Partnerships and S corporations • see rah. 22 1,308,859. 23 For assets shown above and placed in service during the current year, enter the ion of the basis attributable to section 263A costs 23 1/52 ll 12.20ri 1t LHA For Paperwork Reduction Act Notice, see separate instructions. Feint 4562 (2012) 11 EFTA01127931 Form 4562(2012) BJAV knAINE, LTD nsis Ipart V' Listed Property (Include automobiles, certain other vehicles, certain computers, and property used for entertainment. recreation, or amusement.) Note: For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 24b, columns (a) through (c) of Section A all of Section 8 and Section C if applicable. Section A • Depreciation and Other Information (Caution: See the instructions for emits for passenger automobiles.) 24e Do you have evidence to support the business/investment use clairned? U Yes U No 24b If 'Yes: is the evidence written? Li Yes U No (a) (d) fel (i) 19) (h) (I) Type of propaty Date Business/ Ban I°"14areciadeci Recovery Method! Depreciation Elected pLaced in investment Cost or. ouirmaarimnamm section 179 Dist vehicles first ) percentage other basis pewit - Convention deduction service use use only) Cog 25 Special depreciation alowence for qualified listed property placed in service during the tax year and ok .e7., used more than 50% In a qualified business use 25 '.;e- -../ 26 Property used more than 50% in a qualified business use: 86 27 Property used 50% or less in a qualified business use: S/L SA. • 46 Sit • 28 Add amounts in colurm 09, Ines 25 through 27. Enter here and on line 21, page 1 28 29 Add amounts it colurm (I), line 26. Enter here and on Sie 7, page 1 1 29 Section B - Information on Use of Vehicles Complete this section for vehicles used by a sole proprietor, partner, or other *more than 5% owner,' or related person. If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles. (a) (b) (c) (d) (e) (f) 30 Total businessAnvestment miles driven during the Vehicle Vehicle Vehicle Vehicle Vehicle Vehicle yew (do not include commuting miles) 31 Total commuting miles driven during the yew „ 32 Total other personal (nonoornmutIng) maws driven 33 Total rules driven during the year. Add lines 30 through 32 34 Was the vehicle available for personal use Yes No Yes No Yes No Yes No Yes No Yes No during off•duty hours? 35 Was the vehicle used pnrnanly by a mom than 5% owner or related person? 36 Is another vehicle available for personal use? Section C - Questions for Employers Who Provide Vehicles fo Use by Their Employees Answer these questions to determine If you meet an exception to completing Section B for vehicles used by employees who are not more than 5% owners or related persons. 37 Do you maintain a written piety statement that prohibits all personal use of vehicles, including commuting, by yotr Yes No employees? 38 Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your employees? See the instructions for vehicles used by corporate officers, directors, or 1% or more owners 39 Do you treat al use of vehicles by employees as personal use? 40 Do you provide more than five vehicles to your employees, obtain Information from your employees about the use of the vehicles, and retain the information received? 41 Do you meet the nequirernents concerning qualified automobile demonstration use? Note: If answer to 37, 38, 39. 40, or 47 Is 'Yes,' do riot complete Section S for the covered various. Isaiste I Rift-VF1Amortization (a) (b) (C) (e) Ottscection al cos% fa =mention Anarlizree Cods MIOAS630 Amereration Seri tiVont NOM WSW WNW, x Inb nee 42 Amortization of costs that begins during your 2012 tax year. 43 Amortization of costs that began before your 2012 tax yew 43 12,844. 44 Total. Add amounts In column A). See the nstructicas for where to report 44 12,844. 215252 12.25.12 FM14562(2012) 12 EFTA01127932 BJAV MARINE, LTD FORM 1065 OTHER DEDUCTIONS STATEMENT 1 DESCRIPTION AMOUNT ADVERTISING 7,753. AGENT FEES 51,866. AMORTIZATION EXPENSE 12,844. BANK CHARGES 9,949. BROKER COMISSION 198,235. CHARTS AND PUBLICATIONS 19,752. COMMUNICATION 112,560. CREW EDUCATION 4,612. CUSTOMS AND LANDING FEES 29,756. DOCKAGE 287,640. EMPLOYEE HOUSING COSTS (FOR CONVENI 138,002. FOOD & BEVERAGE 41,214. FX LOSS -5,873. INSURANCE 175,369. MEALS AND ENTERTAINMENT 21,500. OFFICE EXPENSE 13,455. PROFESSIONAL FEES 35,000. RECRUITING 10,920. SHIPPING 197,512. STORAGE 2,664. SUPPLIES 269,484. TEMPORARY LABOR 106,221. TRANSPORTATION 30,173. UNIFORMS 23,713. UTILITIES 591,391. VESSEL CLASSING 67,485. TOTAL TO FORM 1065, LINE 20 2,453,197. REPAIR AND MAINTENANCE STATEMENT 2 DESCRIPTION AMOUNT REPAIRS AND MAINT., M-3 D 919,406. TOTAL 919,406. 13 STATEMENT(S) 1, 2 EFTA01127933 BJAV MARINE, LTD SCHEDULE K NONDEDUCTIBLE EXPENSE STATEMENT 3 DESCRIPTION AMOUNT EXCLUDED MEALS AND ENTERTAINMENT EXPENSES 21,500. TOTAL TO SCHEDULE K, LINE 18C 21,500. SCHEDULE L OTHER CURRENT LIABILITIES STATEMENT 4 BEGINNING OF END OF TAX DESCRIPTION TAX YEAR YEAR ACCRUED LIABILITIES 66,021. 34,493. TOTAL TO SCHEDULE L, LINE 17 66,021. 34,493. FORM 1065 PARTNERS' CAPITAL ACCOUNT SUMMARY STATEMENT 5 PARTNER BEGINNING CAPITAL SCHEDULE M-2 WITH- ENDING NUMBER CAPITAL CONTRIBUTED LNS 3, 4 & -7 DRAWALS CAPITAL 1 21,786,494. 2,883,548. -2,882,617. 21,787,425. 2 220,065. 29,127. -29,117. 220,075. TOTAL 22,006,559. 2,912,675. -2,911,734. 22,007,500. 14 STATEMENT(S) 3, 4, 5 EFTA01127934 BJAV MARINE, LTD SCHEDULE M-3 OTHER INCOME (LOSS) AND EXPENSE / DEDUCTION STATEMENT 6 ITEMS WITH NO DIFFERENCES PER INCOME PER TAX DESCRIPTION STATEMENT RETURN OTHER INCOME (LOSS) - SEE STATEMENT 3,206,396. 3,206,396. OTHER EXPENSE / DEDUCTION - SEE STATEMENT -4,753,427. -4,753,427. TOTAL TO SCHEDULE M-3, PART II, LINE 25 -1,547,031. -1,547,031. SCHEDULE M-3 OTHER INCOME (LOSS) ITEMS WITH NO DIFFERENCES STATEMENT 7 INCOME INCOME (LOSS) (LOSS) PER INCOME PER TAX DESCRIPTION STATEMENT RETURN SALES 3,206,396. 3,206,396. TOTAL TO SCHEDULE M-3, PART II, LINE 25 3,206,396. 3,206,396. SCHEDULE M-3 MEALS AND ENTERTAINMENT STATEMENT 8 EXPENSE DEDUCTION PER INCOME TEMPORARY PERMANENT PER TAX DESCRIPTION STATEMENT DIFFERENCE DIFFERENCE RETURN MEALS AND ENTERTAINMENT FROM TRADE OR BUSINESS 43,000. -21,500. 21,500. TOTAL 43,000. -21,500. 21,500. 15 STATEMENT(S) 6, 7, 8 EFTA01127935 BJAV MARINE, LTD SCHEDULE M-3 OTHER AMORTIZATION OR STATEMENT 9 IMPAIRMENT WRITE-OFFS EXPENSE DEDUCTION PER INCOME TEMPORARY PERMANENT PER TAX DESCRIPTION STATEMENT DIFFERENCE DIFFERENCE RETURN DEFERRED ACQUISITION COSTS 12,844. 0. 12,844. TOTAL 12,844. 0. 12,844. SCHEDULE M-3 OTHER EXPENSE/DEDUCTION ITEMS STATEMENT 10 WITH NO DIFFERENCES EXPENSE/ EXPENSE/ DEDUCTION DEDUCTION PER INCOME PER TAX DESCRIPTION STATEMENT RETURN ADVERTISING 7,753. 7,753. AGENT FEES 51,866. 51,866. BANK CHARGES 9,949. 9,949. BROKER COMISSION 198,235. 198,235. CHARTS AND PUBLICATIONS 19,752. 19,752. COMMUNICATION 112,560. 112,560. CREW EDUCATION 4,612. 4,612. CUSTOMS AND LANDING FEES 29,756. 29,756. DOCKAGE 287,640. 287,640. EMPLOYEE BENEFIT PROGRAMS 11,108. 11,108. EMPLOYEE HOUSING COSTS (FOR CONVENT 138,002. 138,002. FOOD & BEVERAGE 41,214. 41,214. FX LOSS -5,873. -5,873. INSURANCE 175,369. 175,369. OFFICE EXPENSE 13,455. 13,455. PROFESSIONAL FEES 35,000. 35,000. RECRUITING 10,920. 10,920. REPAIRS AND MAINT., M-3 D 919,406. 919,406. SALARIES AND WAGES 1,404,060. 1,404,060. SHIPPING 197,512. 197,512. STORAGE 2,664. 2,664. SUPPLIES 269,484. 269,484. TEMPORARY LABOR 106,221. 106,221. TRANSPORTATION 30,173. 30,173. UNIFORMS 23,713. 23,713. UTILITIES 591,391. 591,391. VESSEL CLASSING 67,485. 67,485. TOTAL TO SCHEDULE M-3, PART II, LINE 25 4,753,427. 4,753,427. 16 STATEMENT(S) 9, 10 EFTA01127936 1 651112 Schedule K-1 (Form 1065) rwcwoorwwwmmermx 2012 Final!(-1 0 Amended K-1 OMB No. 1545-0099 Part III Partner's Share of Current Year Income, Department of the Treasory yn b.wrong Deductions, Credits, and Other Items Internal Revenue Service Ong 1 Ordinary business income (loss) 15 Crests Partner's Share of Income, Deductions, I -2,861,332. Credits, etc. li.• See separate instructions. 2 priniontems wcaw acorns line) I 16 Foreign transactions 3 *a net rental income (loss) Part I Information About the Partnership I r identification number 4 Guaranteed payments •• I B Partnership's name, address, city, slate, and Woods 5 Interest income BJAV MARINE, LTD ea Ordinary dividends 760 PARK AVENUE, STE # 7 I 17 Alternative min tax (MAT) items NEW YORK, NY 10021 eh Qualified dividends C IRS Center where partnership fled return I E-FILE 7 Royalties I lit Tax-exempt Income and 0 Q Check if this is a publicly traded partnership (PIP) 8 Net short-term capital gain (loss) nondeductible menses I C* 21,285. 9a Net logterm capital gain (loss) irrildifili Information About the Partner E Partners identi In. number 9b Collectibles (28%) gain (loss) 19 Distributions F Partners name, address, city, state, and ZIP code 9c Unrocaptured sec 1250 gain 20 Other information 10 Net section 1231 gait (loss) 11 Other income (loss) a 1.2LI General partner or LLC LJ Limited partner or other LLC member-manager member H H Domestt partner C Foreign partner 11 What type of entity is this Danner? INDIVIDUAL 12 Section 179 deduction 12 If this partner is a retirement plan (IRA/SEP/Keogh/etc.), cbedc here LJ J Partners share of profit, lass, and capital: 13 Other deductions Beginning Ending Profit 99.0000000% 99.0000000% Loss 99.0000000% 99.0000000% Capital 99.0000000% 99.0000000% II Sell-employment earnings (loss) K Partners share of rebifities at year end: it I O. Nonrecourse S Qualified nonrecourse financing $ *See attached statement for additional information. Recourse S O. L Partners capital account analysis: Beginning capital account $ 21,786,494. Capital contributed during the year $ 2,883,548.8 Current year Increase (decrease) $ —2,882,617. g withdrawals& thstrioutions S( ) i2 Ending capital account $ 21,787,425. h LL F.4 Tax basis C GAAP 0 Section 704(b) book o her (explain) M Did the partner contribute property with a bull -in gain or loss? Yes El No If Yes', attach statement (see instructions) oi:otia LHA. For Paperwork Redaction Act Notice. see Instructions for Form 1065. inS.govrtorn-.1065 Snedu'e K-1 (Fort 1065} 20'2 17 1 EFTA01127937 BJAV MARINE, LTD SCHEDULE K-1 NONDEDUCTIBLE EXPENSES, BOX 18, CODE C DESCRIPTION PARTNER FILING INSTRUCTIONS AMOUNT EXCLUDED MEALS AND NONDEDUCTIBLE PORTION ENTERTAINMENT EXPENSES 21,285. TOTAL TO SCHEDULE K-1, BOX 18, CODE C 21,285. 18 PARTNER NUMBER 1 EFTA01127938 2 651112 Schedule K-1 (Form 1065) Fee calerder yew 2012. ar tax 2012 0 Rnal K-1 Amended K-1 .TarkIll'.i Partner's Share of Current Year Income, OMB No.1545-0099 Department of the Treasury v.'seosin-mg Deductions, Credits, and Other Items internal Revenue Service ',King 1 Ordinary business income Doss) 15 Credds Partner's Share of Income, Deductions, I —28,902. Credits, etc. Pi See separate instructions. 2 Not rented 1tai estate income Ices) _J 3 Other net rental income (loss) 16 Foreign transactions Parti Information About the Partnership I eradication number 4 Guaranteed payments B Partnership's name, address, city, state, and ZIP code 5 Interest income BJAV MARINE, LTD 6a Ordinary dividends 760 PARK AVENUE, STE # 7 I 17 Alternative min tur (AMT) items NEW YORK, NY 10021 lb Qualified dividends C IRS Center where partnership tiled return I E —FILE 7 Royalties I I 18 Tax-exempt Income and 0 O Check if this is a publicly traded partnerehM (PTP) 8 Net short-term capital gain (loss) nondeductible menses I C1 215. 9a Net ionglerm capital gain (loss) 7',Pert II Information About the Partner 9b Colectbles (28%) gain Doss) 19 Distributions I F Partners name, address, city, state, and ZIP code Sc Unrecaptured sec 1250 gain I 20 Other information 10 Net section 1231 gain (loss) IIIIIIIM 11 Other income (loss) El LJ General partner or U.0 L21.1 Limited partner or other LL C member-martsger member H MI Domestic partner O Foreign partner II What type ol entity is this partner? INDIVIDUAL 12 Section 179 deduction I2 It this partner is a retirement plan (IWSEPACeogIVetc.), check here Li J Partners share of pea loss, and capital: 13 Other deductions Beginning Ending Profit 1.0000000% 1.0000000% Loss 1.0000000% 1.0000000% Capital 1.0000000% 1. 0 0 0 0 0 0 0% t4 Sell-employment earnings (loss) K Partners share of Ibbifities at year end: 14, I 0. Nonrecourse 5 Qualified nonrecotrse financing S *See attached statement for additional Information. Recourse ... S 0. L Partners capital account analyst Beginning capital accourrt $ 220,065. z Capital contributed during the year 5 29,127.8 Current year increase (decrease) 5 — 29,117. g Withdrawals & distnbutions S( ) Ending capital account S 220,U1S. x tr. EZ Tax bass C GAAP M Section 104(b) book Other (explain) M Did the partner contribute property with a built-in gain or bss? Yes E4 No If 'Yes', attach statement (see rstructlons) 3p. 13 LI-IA For Paperwork Reduction Mt Notice, see Instructions for crm 1065 1St:151 IP.S.gov/lorm1065 Schedule K-1 (Form 1085) 2012 19 2 EFTA01127939 BJAV MARINE, LTD SCHEDULE K-1 NONDEDUCTIBLE EXPENSES, BOX 18, CODE C DESCRIPTION PARTNER FILING INSTRUCTIONS AMOUNT EXCLUDED MEALS AND NONDEDUCTIBLE PORTION ENTERTAINMENT EXPENSES 215. TOTAL TO SCHEDULE K-1, BOX 18, CODE C 215. 20 PARTNER NUMBER 2 EFTA01127940 2012 TAX RETURN FILING INSTRUCTIONS NEW YORK FORM IT -204 FOR THE YEAR ENDING DECEMBER 31, 2012 Prepared for BJAV MARINE, LTD 760 PARK AVENUE, STE # 7 NEW YORK, NY 10021 Prepared by RAICH ENDE HALTER & CO., LLP 1375 BROADWAY NEW YORK, NY 10018 To be signed and A PERSON AUTHORIZED TO SIGN THE RETURN dated by Amount of tax Total tax $ . 0.00 Less: payments and credits $ 0.00 Plus: other amount $ 0.00 Plus: Interest and penalties $ (Lop NO PMT REQUIRED s Overpayment Credited to your estimated tax S 0.00 Other amount $ 0.00 Refunded to you $ 0.00 Mall tax return THE NEW YORK RETURN HAS BEEN PREPARED FOR ELECTRONIC FILING. and check (if IF YOU WISH TO HAVE IT TRANSMITTED TO THE NYSDTF, PLEASE SIGN, applicable) to DATE AND RETURN FORM TR-579-PT TO OUR OFFICE. WE WILL THEN SUBMIT THE ELECTRONIC RETURN TO THE NYSDTF. Forms to be ENCLOSED ARE COPIES OF SCHEDULE K-1 TO BE DISTRIBUTED TO THE distributed PARTNERS. to partners Return must be NOT APPLICABLE mailed on or before Special DO NOT MAIL THE PAPER COPY OF THE RETURN TO THE NYSDTF. Instructions CLIENT'SCOPY 2'0142 M.01.12 EFTA01127941 New York State New York State E-File Signature Authorizat_il for Tax Year 2012 e-flie verntow ny go For Forms IT-204 and IT-204-LL loctronrc return originator (ERO): do not marl this form to the Tax Department. Keep it for your records. Partnership name: BJAV MARINE, LTD Return type (mark an X to indicate which form you are e-firrig): X 11.204 IT.204.LL Purpose Both the paid preparer and the ERO are required to sign Part B. Form TR-579-PT must be completed to authorize an ERO to e-fle However, if an individual performs as both the paid preparer and the Fonn IT-204, Partnership Return, or Form IT-204LL, Partnership, ERO, he or she is only required to sign as the paid preparer. It is not Limited Liabdity Company, and Limited Litany Partnership Filing necessary to include the ERO signature In this case Please note that Fee Payment Form. For the purposes of this term, all three forms an alternative signature can be used as described in Publication 58, of business entities vas be referred to hereinafter as a partnership. Information for Income Tax Return Preparers Go to our Web site at www.taxny.gov to view this document. General Instructions Pail A must be completed by an authorized member or general partner before the ERO transmits the electronically filed Form Do not mall Form TR-579-PT to the Tax Department. IT-204 or IT-204-LL. EROs must keep this form for three years and present it to the Tax Department upon request. EROs must complete Part B prior to transmitting an electronically Ned Form IT-204 or IT-204-LL. This form is not required for electronically filed Form IT-370-PF, Application for Automatic Extension of Time to Re for Partnerships and Fiducienes. Financial institution information for Form IT-204 -LL f ilere(must be present if electronic payment is authorised) 1 Amount owed on return 1. 2 Financial institution routing number 2. 3 Financial institution account number 3. Part A - Declaration of authorized member or general partner and authorizations for Forms 11-204 or IT-204-LL Under penalty of perjury, I declare that I have examined the information on this 2012 New York State electronic partnership return, including any accompanying schedulea, attachments, and statements, and certify that this electronic return le true, correct, and complete. The ERO has my consent to send this 2012 New York State electronic partnership return to New York State through the Internal Revenue Service (IRS). I understand that by executing this Fomi TR-579-PT, I am authorizing the ERO to sign and file this retum on behalf of the partnership and agree that the ERO's submission of the partnership's return to the IRS, together with this authorization, ail serve as the electronic signature for the return and any authorized payment transaction. If I am paying my New York State partnership fees due by electronic funds withdrawal, I authorize the New York State Tax Department and its designated financial agents to initiate an electronic funds withdrawal from the financial ristitution account indicated on this 2012 electronic return. and I authorize the financial institution to withdraw the amount from the account. I understand and agree that I may revoke this authorization for payment only by contacting the Tax Department no later then in'. (5) business days prior to the payment date. Signature of authorized member or general partner. Date: Print your name and title:EILEEN ALEXANDERSON MANAGER/DIRECTOR Part B - Declaration of electronic retum originator (ERO) and paid preparer Under penalty of perjury, I declare that the Information contained In this 2012 New York State electronic partnership return is the information furnished to me by the partnership. If the partnership furnished me a completed paper 2012 New York State partnership return signed by a paid preparer, I declare that the information contained In the partnership's 2012 New York State electronic partnership tax return Is identical to that contained in the paper return, If I am the paid preparer, under penalty of perjury I declare that I have examined this 2012 New York State electronic partnership tax return, and, to the best of my knowledge and beard, the return is true, correct. and complete. I have based this declaration on all information avalable to me. ERO's signature: Date: 08 -2 9 -13 Print name: Paid preparer's signature: Date: Print name: THOMAS ¶ORRIN TR-579-PT (7/12) 258315 10-19-12 1019 EFTA01127942 2012 York State Department of Taxation and Fnance Partnership Return IT-204 For calendar year 2012 and See the instructions, Form IT-204-I. or tax year beginning 01-01-2012 ending 12-31-2012 Legal name aroe inn BJAV MARINE, LTD Trade name of business if different from legal name above Nwatibusetessumy CHARTERING Address (number and street or rural route) City, village, or post office :VACS 760 PARK AVENUE, STE # 7 NEW YORK State ZIP code Country ptndDV moduclacunem Oat business staled NY 10021 CHARTER OCEAN VESSEL 03-10-2011 spies aandltbne for fans year Section 1- Partnership information 2012 W /Mum Oss heal ... . A Mark an x in the box that applies to entity Regular partnership U Limited liablKy partnership (LLP) 0 Portfolio investment partlerthip (see lnstr.) Ej Other U Limited lability company (LW - including Smiled lability investment company and a limited liabrity trust company) B 1) Did the partnership have any income, gain, loss, or deduction derived from NY sources during the tax year? ,...., B1 Yes 0 No E:I 2) If NO enter the number of resident partners 82 2 C Mark applicable box(es) 0 Change of address 0 Initial return Amended robin Final return (submit explanation D 1) is this return the result of federal audit changes? D1 Yes 0 No XX N Yes: 2) Enter date of final federal determination D2 3) Do you concede the federal audit changes? D3 Yes . No E Did you Ole a NYS partnership return for: 1) 2010? El NOM 2) 20111 E2 Yes El No if No, state reason: F Numbered partners 1) Article 22 F1 2 2) Anne 9A F2 3) Other F3 4) Total F4 2 0 R Does the partnership currently have tax accounts with NYS for the Mowing taxes? 1) Sales and use tax 2) Withholding tax No Yes Yes Yes B N NoO El El (If Yes, enter ID number) (N Yes, enter ID number) 01 02 H Did the partnership have an interest in real property located in NYS during the last three years? H Yes — No I Has there been a transfer or acquisition of a controling interest in this entity during the last three years? I Yes — No J Are any partners in this partnershp also partnerships or LLCs? J Yes — No 7r K Did the partnership engage ki a Ike-lend transaction under IRC 1031 during the tax year? K yes _ No Ir L Was there a distribution of property or a transfer of a partnership interest during the tax year? L N.; s No TC M Did the partnership make an election under IRC section 754? M Yes No N Is this partnership under audit by the IRS or has it been audited in a prior year? N Yes No O Is the partnership recaired to file Form DTF-888 or D'TF-886-ATT for this King period, to report a reportable transaction, New York reportable transaction, fisted transaction or registered tax shaker? 0 Yes 0 No [1] If Yes, complete and submit Form(s) DTF-886, OTF-888A17, and any applicable federal forms. P Did the partnership make pwciases subject to Saba and compensating use tax for which NYS tax was not paid? (see Instr.) P vas No O Did the partnership have a fnancial account Located in a foreign country? (see instructions) 0 Yes No Third-party Personal identification Print designee's name Designee's phone number number (PIN) designee? We Intr.) Yes El No 0 V Paid preparer must complete (see instr.) Date V Sign here V Preparers signature Preparers NYTPRIN Signature of general partner Fiat's name (or yours, if self-endOloYa0 RAICH ENDE HALTER & CO., LL Address 1375 BROADWAY Date NEW YORK, NY 10018 self-employed L_J Email: 204001121019 259301 Mail your return to: STATE PROCESSING CENTER, PO BOX 61000, ALBANY NY 12261.0001. 12.01.12 EFTA01127943 Page 2 of 8 IT-204(2012)RJAV MARINE, LTD Section 2 - Federal ordinary business income (loss) Part 1- Income from federal Form 1065 to Merchant card and third party payments (Including amounts reported on Form 10994() la lb Gross receipts or sales not reported on line la lb 3,206,396. to Total (add tines la and lb) lc 3,206,396. 2 Returns and allowances plus any other adjustments to line la 2 3 Subtract line 2 from tine lc 3 3,206,396. 4 Cost of goods sold 4 5 Gross profit (subtract fine 4 from line 3) 5 3,206,396. 8 Ordinary income (loss) from other partnerships, estates, and trusts (submit statement) 6 7 Net farm profit Ooss) (submit fedora!Form 1040, Schedule F) 7 8 Net gain (loss) from federal Form 4797, Pat II, brie 17 (submit federalForm 4797) 8 9 Other income (loes)(subrrat statement) 9 10 Total income (loss)(combine lines 5 through 9) 10 3,206,396. Part 2 - Deductions from federal Form 1065 11 Salaries and wages (other than to partners) (less employment credits) it 1,404,060. 12 Guaranteed payments to partners 12 13 Repairs and maintenance 13 919,406. 14 Bad debts 14 15 Rent 15 16 Taxes and bcerises 16 17 Interest 17 18 Depreciation (if required, submit federalForm 4562) 18 1 308,659. 19 Depreciation reported on federal Form 1125-A and elsewhere on return 19 20 Subtract fine 19 from line 18 20 1,308,859. 21 Depletion (do not deduct cif and gas depletion) 21 22 Retirement plans, etc 22 23 Employee benefit programs 23 11,108. 24 Other deductions (Submit &atoning SEE STATEMENT 1 24 2,453,197. 25 Total deductions (add lines 11 through 17&1d Enos 20 through 24) 25 6,096,630. 26 Ordinary business income Boss) (subtract Me 25 from line 10) 26 -2,890,234. Section 3 - Cost of goods sold (from federal Form 1125-A see instructions) 27 Inventory at beginning of year 27 28 Purchases 28 29 Cost of labor 29 30 Additional IRC section 263A costs (submit statement) 30 31 Other costs (submit statement) 31 32 Total (add fines 27 through 31) 32 33 Inventory at end of year 33 34 Cost of goods sold (subtract line 33 from tine 32) 34 Cost 35 Methods used for valuing dosing Inventory (mark an x Lower of cost or market Other (specify method used and explain) amicable boxes) 36 Was there a writedown of subnormal goods? Yes No 37a Was UFO nventory method adopted this tax year for any goods? Of Yes, submit federalRim 970.) Yes No 37b If the UFO nventory method was used for this tax year, enter the amount of dosing inventory computed under LIFO 37b 38 Do the rules of IRO section 263A (for property produced or acquired for resale) apply to the partnership? Yes No 39 Was there any change in deterrnining quantities, cost, or valuations between opening and closing inviantone? Yes No If Yes, explain 204002121019 IIEIIllMliiiIll101111IIIll 206502 12.0612 EFTA01127944 BJAV MARINE, LTD 17-204 (2012) Page 3 of 8 Section 4 - Balance sheets per books (from federal Form 1065. Schedule L) Assets Beginning of tax year End of tax yew (a) (b) (c) Id) 40 Cash 11,190. 194,978. 41 inee note/ as:treat+ 41. 42 Less olowances for bed dais 42. 43 Inventories 43. 44 U.S. govt obligations 44. 45 Tax•exerrpt securities 45. 48 ore ant net (sub start) 46. elates's prime (ei pas WSW Wattle) CB. 4ThMortgireal estate loans 47b. 48 Othr invstmt (sub stmt) 48. 49 ens and oft etas asses 49. 22,503,742. 23,643,790. 50 Less acorn depatalica 50. 529,569. 21,974,173. 1,838,428. 21,805,362. 51 Own asses 51. 52 Len =am eloplean 63 Land (net any amrtztn) 53. 54 Intnoeb astit earatilowl 54. 231,193. 231,193. 55 Loss acetified emanation 10,703. 220,490. 23,547. 207,646. 56 Othr assets (sub sting 58. 67 Toll assets 57. 22,205,853. 22,207,986. Liabilities and capital Beginning of tax year End of tax year (b) (81 58 Accounts payable 58. 133,273. 165,993. 59 Mortgages, notes. bonds payable in less than one year 59. 60 Other current liabilities (subrnitstatemeng STATEMENT 2 gg, 66,021. 34,493. 61 All nonrecourse loans 61. 62a Loans from partners (or persons related to partners) 62a. 62b Mortgages, notes, bonds payable in one year or more ea,. 63 Other liabilities (submit statement) 63. 64 Partners' capital accounts 64. 22,006,559. 22,007,500. 65 Total fabirties and capital 65. 22,205,853. 22,207,986. 204003121019 261603 12.06-12 EFTA01127945 Page 4 of 6 IT-204 (2012)BJAV MAR J.DIE , LTD Section 5 - Reconciliation of income (loss) per books with income (loss) per return (From federal Form 1065, Schedule M-1; see instructions. If Schedule M-3 was !Wed. mark an x in the box Me Schedule M-3 and any related documents watt Form IT-204; skip Section 5 and continue with Section 6.) 66 Net income (loss) per books 66 67 Income Included on return not recorded on books ttis year, from Schedule 1.4-1, fine 2 67 Identity: 68 Guaranteed payments (other than health insurance) 88 69 Expenses recorded on books Via year not Included on return, from Schedule M•1, One 4 89 Identify: 70 Add Ines 66 through 69 70 71 Income recorded on books this year not included on return. from Schedule M-1, line 6 71 Identify: 72 Deductions included on return not charged against book Income this year. from Schedule M 1, line 7 72 Identify: 73 Add Ines 71 and 72 73 74 Income (loss)(subtract line 73 from &le 70) 74 Section 6 - Analysis of partners' capital accounts (frcrn federa' Fait 1065, Schedule M-2) 75 Balance at beginning of year 76 22,006,559. 76 Capital contributed -cash 76 2,912,675. 77 Capital contributed • property 77 78 Net income (loss) per books 78 -2,911,734. 79 Other increases 79 Identify: 80 Add &les 75 through 79 80 22,007,500. 81 Distributions cash 81 82 Distributions - property 82 83 Other decreases 83 Idendly: 84 Add linos 81, 82, end 83 84 85 Balance at end of year (subtract hoe 84 from line 80) 86 22,007,500. 204004121019 IIIIIIIIIIII I1it111 MINN SOB-11 EFTA01127946 BJAV MARINE, LTD IT•204 (2812) Page 5 of 8 Section 7 - Partners' share of income, deductions, etc. (from federal Form 1065, Schedule IQ Partners' distributive share Items 86 Ordinary business income (loss) 86 -2,890,234. 87 Net rental real estate income (loss) (submit federal Fan) 8825) 87 88a Other gross rental income (loss) 88. 88b Expenses from other rental activities 89 Other net rental income (loss) (subtractIS 88b from 89 90 Guaranteed payments 93 91 Interest Income 91 92 Ordhary dividends 92 93 Royalties 93 94 Net ehort•term capital gain (loss) (submit federal Schedule D) 94 95 Net longterm capital gain (loss) (submit federal Schedule CO es 96 Net section 1231 gain (loss) (submit federal Form 4797) 98 97 Other income pots) (see Instructions) 97 Identify: 98 Section 179 deduction (submit federal Form 4562) ge 99 Other deductions (See instructions) ........... ............ Identity: 100 Tex preference items for minimum tax (see instructions) 100 Wen*: 101 Nat earnings (loss) from setf•employment 101 102 Tax•exernpt Income and nondeductible expenses (see fregreedsne) 102 21,500. 103 Distributions • cash and marketable securities 103 104 Distributions • other property 104 105 Other Items not Included above that are required to be reported separately to partners (see Inst.) 105 identify: Analysis of not income (loss) 106 Enter amount from federal Form 1065, Analysis of Net Income (Loss), line 1 106 -2,890,234. Analysis by type of partner A B C D E F Corporate Individual Individual Partnenthip Exempt Nominee/other (active) (passive) organization General partners -2,861,332. Limited partners -28,902. 204005121019 1111111111111111111101 I IIII 266505 EFTA01127947 Page Sof 8 1T-204 (2012) BJAV MARJANE , LTD Section 8 - New York modifications (see inductions) 107 New York State additions Number A - Total amount B Now York State allocated amount 107a EA — 107b EA — 107c EA — 107d EA — 1070 EA — 107f EA — 108 Total addition moddlcabons (total of column A lines 107a through 1070 toe 109 New York State subtractions Number A - Total amount B - Now York State allocated amount 109a ES — 109b ES — 109c ES — 109d ES — 109e ES - 109t ES — 110 Total subtraction modifications (total of column A, lines 109a through 1090 110 111 Addition to federal itemized deductions Letter Amount 112 Total additions to federal itemized deductions (add lines /11a through MO 112 113 Subtractions from federal itemized deductions Letter Amount 113a 113b 113c 113d 113o 113t 114 Total subtractions from federal itemized deductions (add lines 113a through 1130 114 115 New York adjustments to tax preference items 115 I1'111011111i 0H111 1611106 12.06.12 EFTA01127948 BJAV MARINE, LTD IT•204 (2012) Pagelot6 Section 9 - Other information 116a New York source gross Income (see Pstruchons) 1160 0 . 116b MCD allocation percentage (see lir/strut- dons) 1111) •0000 % 117 Is this partnership a partner in another partnership or LL0? nekest the Minn and ElAta below; submit additional sheets if necessary.) Yea 0 No MI Name of entity BN Section 10 - New York allocation schedule Part 1 - List all places, both In aid out of NYS, where the partnership conies on business (submit additional sheets necessary) Street address City and state Desorption (see instructions) C/O ARCADIA, CAYMAN BUSINESS PAR GRAND CAYMAN REGISTERED OFFICE 760 PARK AVE NEW YORK, NY MAILING ADDRESS IN US KINGSTOWN ST VINCENT PORT OF REGISTRY 118 Do books and records reflect income earned in New York? (1( Yes, do not complete Part 2) Yes No El Part 2 - Formula basis allocation of income if books and records do not reflect mcome earned in New York Items used as factors A - Totals - in and out of NYS 6 • New York State amounts C • Percent col. B Property percentage (see instrucbbns) Dollars Dollars is of col. A 119 Real property owned 119 119 120 Real property rented from others 120 120 121 Tangible personal property owned 121 121 122 Property percentage (add lines 119, 120, and 121; see Instr.) 122 122 122 % 123 Payroll percentage (see Instr.) 123 123 123 % 124 Gross Income percentage (see Instr.) 124 124 124 % 125 Total of percentages (total column C, lines 122, 123, and 124) 125 % 126 Business allocation percentage (divide line 125 by three or by actualnumber ofpercentages Klass than three) 128 .0000 % Section 11 - Partners' credit information (see instructions) Pert 1 - Flow-through credit bases and factors Brownfield redevelopment tax credit (Pam IT-611 and/or IT-611.1) 127 Site preparation credit component 127 128 Tangible property credit component 128 129 On-site groundwater remediation credit component 129 204007121019 301$07 21441-11 EFTA01127949 Page Sot 8 IT-204(2012) BJAV TSARS iE , LTD Section 11 (continued) EZ capital tax credit (Form IT-602) 130 Contributions of money to EL community development projects 130 131 Recapture of credit for investments in certified EZ businesses 131 132 Recapture of credit for contributions of money to EZ community development prefects 132 QEZE tax reduction creed (Form IT-604) 133 QEZE employment increase factor 133 134 QEZE zone Weston factor 134 135 QEZE benefit period factor 135 Excelsior jobs program tax credit (Form (T-607) 136 Excelsior jobs tax credit component 136 137 Excelsior investment tax credit component 137 138 Excelsior research and development tax credit component 138 139 Excelsior real property tax credit component 139 Farmers' school tax credit (Form IT-217) 140 Acres of quaWied agricultural property 140 141 Acres of queered conservation property 141 142 Bigble school district property taxes paid 142 143 Acres of qualified agricultural property convened to nonquaafied use 143 Other flow-through credit bases and factors Credit bases Code Amount Cods Amount 144a 144d 144b 144* 144c 144f Credit factors Code Factor Code Factor Code Factor 144g 144i 144k 144h 144J 1441 Pert 2 - Flow-through credits, addbacks and recaptures 145 Longterm care insurance credit (Form IT-249) 146 146a Investment credit including employment incentive credit and historic barn rehabilitationmedic Form IT-212) 144to 146b Research and development • investment credit (Form IT-212) 147 Other flow-through creeds Code Amount Code Amount 147a 147o 147b 147f 147c 147g 147d 147h 148 Addbacks of credits and recaptures Code Amount Code 148a tad 148b 148e 148c imIillifiliiiii°1i1111 1111 SIM moots EFTA01127950 BJAV MARINE, LTD NY IT-204 OTHER DEDUCTIONS STATEMENT 1 DESCRIPTION AMOUNT ADVERTISING 7,753. AGENT FEES 51,866. AMORTIZATION EXPENSE 12,844. BANK CHARGES 9,949. BROKER COMISSION 198,235. CHARTS AND PUBLICATIONS 19,752. COMMUNICATION 112,560. CREW EDUCATION 4,612. CUSTOMS AND LANDING FEES 29,756. DOCKAGE 287,640. EMPLOYEE HOUSING COSTS (FOR CONVENI 138,002. FOOD & BEVERAGE 41,214. FX LOSS -5,873. INSURANCE 175,369. MEALS AND ENTERTAINMENT 21,500. OFFICE EXPENSE 13,455. PROFESSIONAL FEES 35,000. RECRUITING 10,920. SHIPPING 197,512. STORAGE 2,664. SUPPLIES 269,484. TEMPORARY LABOR 106,221. TRANSPORTATION 30,173. UNIFORMS 23,713. UTILITIES 591,391. VESSEL CLASSING 67,485. TOTAL TO FORM IT-204, PAGE 2, LINE 24 2,453,197. NY IT-204 OTHER CURRENT LIABILITIES STATEMENT 2 BEGINNING OF END OF TAX DESCRIPTION TAX YEAR YEAR ACCRUED LIABILITIES 66,021. 34,493. TOTAL TO FORM IT-204, PAGE 3, LINE 60 66,021. 34,493. STATEMENT(S) 1, 2 EFTA01127951 2012 New York State Deportment of Taxation and Finance New York Partner's Schedule K-1 IT-204-IP Tax Law - Article 22 (Personal Income Tax) — Final K-1 For calendar year 2012 or tax year beginning 01-01-2012 and ending 12-31-2012 AMCIld c cl K-1 Partners: Before completing your Income tax return, see Form IT-204-IPA, Partners instuctions for Forma-204-1P (available at ye vve.tax.n y.9 ov:.. PartDOMMOWCWITIBBOh(seinsinichons) Partnership's name (as shown on Form er-204) Partnersh"s EIN BJAV MARINE, LTD A Mark an x In the box if either apples to your entity 0 Publicly traded partnership 0 Poetised ovestment partnership B Tax shelter registration number, If any B C Ekisiness allocation percentage C Partner's information (see instructions) Partner's name LEON D BLACK Partner's address city State ZIP code D The partner is a (mak an x in Ms *pawn box) W General partner or LLC membermanager O Limited partner or other LLC member E What is the tax fling status of the partner? hark ort)On the savoys sox 'Nowt) Ell Individual I:: Estate/trust 7: Partnership F If the partner is a disregarded entity or grantor trust, enter the tax ID of the entity or individual reporting the income. if known G Did the partner set its entire interest during the tax year? G Yes C No al Ending H Partners share of profit, loss, and capital Beginning 1) Profit H1 99.0000 V. 99.0000 % 2) Loss H2 99.0000 % 99.0000 Vi 3) Capital H3 99.0000 % 99.0000 .,,, I Partners share of fiabiRies at the end albs year 1) Nonrecourse Ii 2) Qualified ncrrecouree financing 12 3) Recourse 13 J Partner's capital account analysis 1) Beginning capital acockint J1 21,786,494. 2) Capita contributed during the year • cash J2 2,883,548. 3) Capital contributed during the year • propety J3 4) Current year increase (decrease) .14 -2,882,617. 5) Withdrawals and distributions • cash J5 8) Withdrawals and distributions - property J6 7) Ending capital account J7 21,787,425. 8) Method of accounting (mark an x in the appropriate box) al Tax basis C GAAP 0 Book I=I Other (submit explanation) K Resident status (mark an x in as boxes that nio al NYS fulyear resident Yonkers full year resident C NYC full-year resident 0 NYS part-year resident El Yonkers partyear resident C NYC part year resident 0 NYS nonresident ILI Yonkers nonresident L if the partner was included In a group return, enter the special NYS identification number, if known L 118001121019 288151 111/12 EFTA01127952 Page 2 of 4 IT•204-IP (2012) M 1) Was Form IT2658E filed with the partnership? M1 Yes O No C3 2) Was Form MTA-405-E filed with the partnership? M2 Tes ti' No N NYS estimated tax paid on behalf of partner (from Form 1T-2658) Dots Amount 1) First Installment Ni 2) Second instalment N2 3) Third installment N3 4) Fourth instalment N4 Total NYS estimated tax paid on behalf of partner (add lines N1 through N4) O Estimated MCTMT paid on behalf of partner (from Form MTA-4O5) OM* Amount 1) Fast installment 01 2) Second instalment 02 3) Thad installment 08 4) Fourth instalment 04 Total estimated MCTMT paid on behalf of partner (addlines 01 through On 0 Partners share of income, deductions, etc. A • Partner's dist rbutive share Items 8 - Federal K-1 amount C - Now York State amount 1 Ordinary business income floss) 1 -2,861,332. 1 -2,861,332. 2 Net rental real estate income (loss) 2 2 3 Other net rental income (loss) 3 3 4 Guaranteed payments 4 4 5 interest income 5 5 6 Ordinary cfMdende B 6 7 Royalties 7 7 8 Net short4erm capital gain (loss) 8 8 9 Net longterm capital gain Coss) 9 9 10 Net section 1231 gain (loss) 10 10 11 Other income (loss) Identify: 11 11 12 Section 179 deduction 12 12 13 Other deductions identify- 13 13 14 Tax preference items for minimum tax 14 14 Identify: 15 Net earnings (toss) from setf-errployment 15 15 16 Tax-exempt income and nondeductible expenses 18 21,285. 16 21,285. 17 Distributions • cash and marketable securities 17 17 18 Distributions other property 18 18 19 Other items not included above that are required to be reported separately to partners 19 19 Identify: Partner's share of New York modifications (seo insfnstions) 20 Now York State additions Number A - Total amount - New York State allocated amount 20a EA- 20b EA- 20c EA- 20d EA- 20c EA- 201 EA- 21 Total addition modifications (total of column A, linos 20a through 20/) 21 288852 EFTA01127953 IT-2O4-IP (2012) Page 3 o14 Partner's share of New York modifications (continued) 22 New York State subtractions Number A - Total amount B - New York State allocated amount 22a ES- 22b ES- 22c ES- 22d ES- 22e ES- 221 ES 23 Total subtraction modifications (total of column A lines 22a through 220 23 24 Additions to federal Itemized deductions Letter Amount 24a 24b 24c 24d 24e 241 25 Total additions to federal itemized deductions (add lines 24a through 240 28 26 Subtractions from federal itemized deductions Letter Amount 26a 26b 26c 26d 26e 261 27 Total subtractions from federal itemized deductions (add lines 26a through 260 28 New York adjustments to tax preference items 23 Partner's other information 20a Partner's share of New York source gross Income 20. 29b MCTD alocation percentage (see instructions) 29b Partner's credit information Part 1 - Flow-through credit bases and factors Brownfield redevelopment tax credit (Form IT-611 or IT-611.1) A- FarmIT-811 B - FawnIt 30 Site preparation credit component 30 30 31 Tangible property credit component 31 91 32 On site groundwater remediation credit component 32 82 III III 1111 iii°1111110 286101 1141.12 EFTA01127954 Rage 4 ot4 IT-204-IR (2012) Partner's credit information (continued) U capital tax credit (Form IT-602) 33 Contributions of money to EZ community development projects 33 34 Recapture of credit for investments in certified EZ businesses 34 35 Recapture of credit for contributions of money to EZ communily development projects 35 OEZE tax reduction credit (Form IT-604) 36 QEZE employment increase factor 96 37 QEZE zone allocation factor 97 38 OEZE benefit period factor „ , 38 Excelsior jobs program tax omit (Form IT-607) 39 Excelsior jobs tax credit component 39 40 Exceesior Investment tax credit corrponent 40 41 Excelsior research and development tax credit component 41 42 Excelsior real property tax credit component 42 Farmers' school tax credit (Form IT-217) 43 Acres of qualified agncultural property 43 44 Acres of qualified conservation property 44 45 Eligible school district property taxes paid 45 48 Acres of qualified agncUtural property converted to nonqualified use 46 Other flow-through credit bases and factors Credit bases Code Amount Code Amount 47a 47d 47b 47e 47c 47f Credit factors Code Factor Code Factor Coda Factor 47g 471 47k 47h 47J 471 Part 2 - Flow-through credits, addbacks and recaptures 48 Longterm care insurance credit (Form IT-249) 48 49 Investment credit (nclocfing employment krcenther credit and historic barn rehabilitation credit Form IT-212) a 60 Research and development - investment credit (Form IT-212) 60 51 Other Flow-through credits Code Amount Code Amount 51a 610 51b 51f 61c 61g 51d tith 52 Addbacks of credits and recaptures Code Amount Cods AntouM 62a 5:31 52b 152e 52c 52f 118004121019 2MIN2 11.1101 EFTA01127955 2012 Now York State Dt.,....tment of Taxation and Finance New York Partner's Schedule K-1 IT-204-IP Tax Law - Article 22 (Personal Income Tax) For calendar year 2012 or tax year beginning 01-01-2012 and ending 12-31-2012 Ei Final K-1 Amended K.I 2 Partners: Before completng your ricome tax return, see Form IT-2044P-I, Partner's Instructions for Form IT-204-IP(avaaable at www.tax.ny.gov). Partnership's Information (see Instniceons) Partnership's name (as shown on Form 1T-204) P n r hi ' BJAV MARINE, LTD A Mark en x in the box if either applies to your entity 0 Puol'oly traded palnership E) Portfo'io investment partnership B Tax shelter registration number, it any B C Business allocation percentage C Partner's information (see Instnictions) Partner's name Partner's 'dent in number Prnr r • State ZIP code D The partner is a (kirk m x r ski appraisals bcoo 0 General partner or LLC rnembermanager United partner or other LLC member E What is the tax filing status of the partner? Kok an X in eciproosse sok if haling Individual C Estate/trust 0 Partnership F If the partner is a disregarded entity or grantor trust, enter the tax ID of the entity or individual reporting the income, if known G Did the partner sell its entire interest during the tax year? G Yes 0 No Xi H Partner's share of profit, loss, and capital Beginning Ending 1) Profit H1 1.0000 % 1.0000 % 2) Loss H2 1.0000 */* 1.0000 % 3) Capital H3 1.0000 % 1.0000 % I Partners share of liabilities at the end of the year 1) Nonrecourse It 2) Qualified nonrestourSe financing 12 3) Recourse 13 J Partners capital account analysis 1) Beginning capital acccunt JI 220,065. 2) Capital contributed during the year • cash .12 29,127. 3) Capital contributed during the year • property .13 4) Current year incomes (decrease) ..14 -29,117. 5) Withdrawals and distnbutions • bah J5 6) 1Mthdrawals and distnbutions • property .16 7) Ending capital account ..17 220,075. 8) Method of accounting (mark an x in the appropriate box) XI Tax basis I=I GAAP 0 Book CI Other (submit exptsratIon) K Resident status (mark an x In as boxes that apply) CE NYS full-year resident 0 Yonkers fullyear resident CI NYC tayear resident 0 NYS part-year resident 0 Yonkers part-year resident 0 NYC pat-year resident El NYS nonresident 0 Yonkers nonresident L If the partner was included in a group return, enter the special NYS identification number, If known I. 118001121019 IIIIIIIElIIINIIIIIII11110111 288851 EFTA01127956 Page 2 of 4 IT-204-IP (2012) M 1) Was Form IT-2858E filed with the partnership? M1 Yes 0 No 2) Was Form MTA-405-E filed with the partnership? M2 Yes No CI N NYS estmatecf tax paid on behalf of partner (from Form IT-2658) Date Amount 1) Fret Installment N1 2) Second instalment re 3) Third Installment Na 4) Fourth installment 114 Total NYS estimated tax paid on behalf of partner (add tines N1 thrOoSitt N4) 0 Estimated MCTMT paid on behalf of partner (from Form MIA-405) Date Amount 1) Ent installment 01 2) Second installment 02 3) Third installment 03 4) Fourth instalment 04 Total estimated MCTMT paid on behalf of partner (addlines O1through 0 0 0 Partner's share of income, deductions, etc. A - Partner's distributive share Items B - Federal K I amount C - New York State amount 1 Ordinary business income (loss) 1 -28,902. 1 -28,902. 2 Net rental real estate income (loss) 2 2 3 Other not rental income goes) 3 3 4 Guaranteed payments 4 4 5 Interest income 5 5 8 Ordinary dividends 6 7 Royalties 7 7 8 Net short-term capital gain goes) 8 8 9 Net long-term capital gain goes) 9 9 10 Net section 1231 gni (loss) 10 10 11 Other Income (loss) Identify: 11 11 12 Section 179 deduction 12 12 13 Other deductions Identify: 13 13 14 Tax preference items for minimum tax 14 14 Identify: 15 Net earnings (loss) from self-employment 15 15 18 Tax-exempt Income and nondeductible expenses 16 215. 16 215. 17 Distnbutions • cash and marketable securities 17 17 18 Distributions • other property 18 18 19 Other Items not included above that are requited to he reported separately to partners 19 19 Identity: Partner's share of New York modifications (see instructions) 20 New York State additions Number A- Total amount B - New York State allocated amount 20a EA- 20b EA- 20c EA- 20d EA- 20e EA- 20f EA- 21 Total addition modifications (total of column A, lines 20a through 20!) 21 III II1110 21112IfITIIIII 141102 11-11.12 EFTA01127957 11*-200-IP (2012) Page 3 of 4 Partner's share of New York modifications (continued) 22 New York State subtractions Number A - Total amount B - New York State allocated amount 22a ES- 22b ES- 22c ES- 22d ES- 22e ES- 221 ES- 23 Total subtraction modifications (total of column A Ones 22a through 220 23 24 Additions to federal itemized deductions Letter Amount 24a 24b 24c 24d 24e 241 26 Total additions to federal itemized deductions (odd lines 24e through 241) 26 Subtractions from federal itemized deductions Lotter Amount 26a 26b 26e 26d 26e 261 27 Total subtractions from federal itemized deductions (add fines 26a through 260 27 28 New York adjustments to tax preference Items 28 Partner's other information 28a Partners share of New York source gross income 20a 29b ACID allocation percentage (see Instructions) 29b Partner's credit information Part 1 - Flow-through credit bases and factors Brownfield redevelopment tax credit (Form IT-611 or IT-677.1) A • Form 11-611 13•FormIT4311.1 30 Site preparation credit component 30 31 Tangible property credit component 31 31 32 On•site groundwater remediation credit component 32 32 118003121019 213•111 11.18.111 EFTA01127958 Page 4 o14 1T-204-IP 2014 Partner's credit information (continued) EZ capital tax credit (Form 17-602) 33 CoMnbutions of money to EZ community development projects 33 34 Recapture of credit for investments in certified EZ businesses 34 35 Recapture of credit for contributions of money to EZ oomrnunity development projects 35 OEZE tax reduction credit (Form17-604) 36 OEZE employment increase factor as 37 QEZE zone allocation factor 37 38 QEZE benefit period factor 38 Excelsior jobs program tax credit (Form 17-607) 39 Excelsior jobs tax credit component 30 40 Excelsior investment tax credit component 40 41 Excelsior research and development tax credit component 41 42 Excelsior real property tax credit component 42 Farmers' school tax credit (Form?-217) 43 Acres of qualified agricultural property 43 44 Acres of qualified conservation property 44 45 Eligible school district property taxes paid 45 46 Acres of qualified agricultural property converted to nonqualified use 46 Other flow-through credit bases and factors Credo bases Code Amount Code Amount 47a 47d 47b 47e 47c 47f Credit tactcs Code Factor Code Factor Cods Pastor 47g 47i 47k 471r 47J 47i Part 2 - Flow-through credits, addbacks and recaptures 48 Longterm care insurance credo (Form 17-249) 48 49 InveStment trait (including employment incentive credit and historic Dam rehabildetbn credit RNM17.-212)49 50 Research and development • investment credit (Form 17-272) 60 51 Other flow-through credits Code Amount Code Amount 51a 51e 51b sit 51e 519 51d ftlit 52 Addbacks of credits and recaptures Code Amount Cods Amount 52a 52d 52b 52s 52e 531 III 261.012 11-111-12 EFTA01127959 ONO Not 1545.0172 Rem 4562 Depreciation and Amortization 2012 Department of or Truant (Including Information on Listed Property) OTHER Attu:lama IrownalRavornaaeratat ► See separate Instructions. ► Attach to your tax return. Socatanco Na 179 teoNESIXtwn co ream Business or earn to Witch Ks fora nano klantlylrog art CHARTERING OF OCEAN BJAV MARINE, LTD VESSEL Part I Election To Expense Certain Property Under Section 179 Note:If you have any fisted property, complete Part V before you complete Part I. 1 Maximum amount (see instructions) 1 2 Total cost of section 179 property placed it service (see instructions) 2 3 Threshold cost of section 179 property before reduction in imitation 3 4 Reduction in limitation. Subtract one 3 from line 2. If zero or less, enter 43- 4 5 Dotal IltrautIon to tax year. arbtract Ina 4 tan the 1. It we or watt 41-Jimmied Gana aaparatalt re Imamate 6 6 to Dasechplon of MPH, / MCOII(Ovelinvis OW) glMeted coil 7 Listed property. Enter the amount from line 29 I 7 8 Total elected cost of section 179 property. Add amounts in column (c). lines 6 and 7 8 9 Tentative deduction. Enter the smaller of fine 5 or line 8 9 10 Carryover of disallowed deduction from line 13 of your 2011 Form 4562 10 11 Business income imitation. Enter the smaller of business income (not less than zero) or line 5 11 12 Section 179 expense deduction. Add fines 9 and 10, but do not enter more than line 11 12 13 Carryover of disallowed deduction to 2013. Add Ines 9 and 10. lees Ire 12 18 I Note: Do not use Part II or Part Ill below for listed property. Instead, use Part V. I Partin Special Depreciation Allowance and Other Depreciation (Do not include fisted property.) 14 Special depreciation allowance for qualified property (other then listed property) placed in Siarliell dung the tax year 14 15 Property subject to section 168(0(1) election 16 16 Other depreciation fricludine ACRS) 18 I Partin:I MACRS Depreciation (Do not include fisted property.) (See instructicrts) Section A 17 MACRS deductions for assets placed in service in tax years beginning before 2012 17 1,270,949. 18 eyaanerectng to graspany =Cr. Mete in service &Pig He lax year M. ene a Imo pneral accoinee, check hes . . ..., El Section B - Assets Placed in Service During 2012 Tax Year Using the General Depreciation System 04 M0Ql WV M ases ice depredation secleaercafte of MOM/ yew paced tousearaohnvoltrant no MR•OOVIrf tot Comintern to Mothod Is) Ooonatottan dodoctan he service My - see reatteterel PeflOe 19a 3-year property b 5-year property c Tyear property d 10-year property e 15-year property 1 20-year property g 25.year property 25 yrs. S/L / 27.5 yrs. MM SA. h Residential rental property / 27.5 yrs. MM S/L / 39 yrs. MM SA. I Nonresidential real property / MM S/L Section C - Assets Placed in Service During 2012 Tax Year Using the Alternative Depreciation System 20a Class life 1,143,547. VARIES HY SA. 37,910. b 12-year 12 yrs. S/L e 40 year 40 yrs. MM S/L Part1V{summary(seeinstructions.) 21 Listed property. Enter amount from line 28 21 22 Total. Add amounts from line 12. lies 14 through 17, lines 19 and 20 In column (g), arid one 21. Enter here and on the appropriate knee of your return. Partnerships and S corporations - see Matt 22 1,308,859. 23 For assets shown above and placed in service during the current yew, enter the ion of the basis attributable to section 263A costs 23 216211W 12.2a.ra LHA For Paperwork Reduction Act Notice, see separate instructions. Form 4662 (2012) 18 EFTA01127960 Fonn 45621(2012) BJAV MiutINE, LTD 98-0702970 Page 2 I PLOW Listed Property (Include automob,les, certain other vehicles, certain computers. and property used for entertrnmeM, recreation, or amusement.) Note: For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete only 24a, 2413, columns (a) through (C) of Section A, all of Section 8, and Section Cif applicable. Section A - Depreciation and Other Information (Caution: See the instructions for limits for passenger automobiles.) 24a Do you have evidence to support the businessAnvestment use claimed? Li Yes I I No 24b If "Yes,' is the evidence written? I__I Yes No (a) (b) (c) (d) (s) (I) (g) (h) (I) Type of properly Date Business/ Bees ice decree:oda' Recovery Mellow Depreciation Elected placed in Cost or orwmamwemm period section 179 (fist vehicles fuels) other basis urarew Convention deduction sate use percentage cos: 25 Special depreciation allowance for qualified listed property placed In service during the tax year and used more than 50% in a quaffed business use 25 28 Property used more that 50% in a quakfted business use: 27 Property used 50% or less in a qualified business use: S/L • Sh_• St • 28 Add amounts in column (h). Fos 25 through 27. Enter here and on Nne 21, page 1 128 29 Add amounts in column (i), Irma 26. Enter here and on line 7, page 1 1 29 Section 8 - Information on Use of Vehicles Complete this section for vehicles used by a sole proprietor, partner• or other more than 5% owner," o related person. It you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles. fa) (b) (c) (d) (e) (0 30 Total businessAnvestment miles driven during the Vehicle Vehicle Vehicle Vehicle Vehicle Vehicle year (do not ander* commuting miles) 31 Total commuting miles driven duty the yew ,„ 32 Total other personal (ncocomrnuting) miles driven 33 Total roses driven during the year. Add lines 30 through 32 34 Was the vehicle available for personal use Yes No Yes No Yos No Yos No Yes No Yes No during offduty hours? 35 Was the vehicle used primary by a mere than 5% owner or related person? 36 Is another vehicle available for persona! use? Section C - Questions for Employers Who Provide Vehicles for Use by Their Employees Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who are not mare than 5% owners or related persons. 37 Do you maintain a written policy statement that prohibits al personal use of vehicles, including commuting, by your Yes No employees? 38 Do you maintain a written policy statement that prohibits personal use of vehicles, accept commuting, by yotr employees? See the instructions for vehicles used by corporate officers, Erectors, or 1% or more owners 39 Do you treat all use of vehicles by employees as personal use? 40 Do you provide more than five vehicles to your employees, obtain Information from your employees about the use of the vehicles, and retain the information received? 41 Do you meet the requirements concerning qualified automobile demonstration use? Note: !your answer to 37, 38, 39, 40. or 41Is Yes," do not complete Section 8 for the covered vehicles. iPlatVill Amortization (a) (b) (0 ) (0 ) (e) oremorke doors Deramoilatir Peocetcrade Code Anaerobe knernatcn Noss invent "Sn ors) sr poem 01 hllY 42 Amortization of costs that begins during your 2012 tax year 43 Amortization of costs that began before your 2012 tax year 43 12,844. 44 Total. Add amounts in column M. See the Instructions for where to report 44 12,844. 214262 I2.25-12 Perm 4562 (2012) 19 EFTA01127961 SCHEDULE M-3 Net Income (Loss) Reconciliatitni (Form 1065) for Certain Partnerships Deportnwnl Vire Tryasury rEarnal %vents Sews Attach to Form 1065 or Form 1065.B. lei Information abeet Schedule IA-3 (Form 1065) and its instructions is at www.irs.govfloun1065 2012 Name of partnership Employer dentilication number BJAV MARINE, LTD This Schedule M-3 is being filed because (cheek ell that apply): A al The amount of the partnership's total assets at the end of the lax year 6 equal to $10 milion or more. B ER3 The amount of the partnership's adjusted total assets for the year is equal to $10 million or more. II box B is checked. enter the amount of adjusted total assets for the tax year 25,119,720. . C C3 The amount of total receipts tor the tax year is equal to $35 milhon or more. If box C is cheated, enter the total receipts for the tax year 0 0 An entity that is a reportable entity partner with respect to the partnership owns or is deemed to own an interest of 50 percent or more in the partnership's capital, profit, or loss, on any day during the tax year of the partnership. Maximum Percentage Owned or Name of Reportable Entity Partner Identifying Number Deemed Owned E U Voluntary Filer Part I Financial Information and Net Income (Loss) Reconciliation Is Did the partnership fie SEC Form 10-IC for ks Income statement period ending with or within this tax year? D Yes. Skip lines lb and lc and complete lines 2 trout) 11 with respect to that SEC Form 10-K. Xi No. Go to line tb. See instructions il multiple non-tax-basis income statements are prepared. b Did the partnership prepare a certified audited non-tax-basis income statement for that period? Yes. Skip line lc and complete lines 2 through 11 with respect to that income statement M No. Go to line lc. c Did the partnership prepare a non-tax-basis income statement for that period? El Yes. Complete lines 2 through 11 with respect to that income statement EX] No. Skip lines 2 through 3b and enter the partnership's net income (loss) per its books and records on line 4a. 2 Enter the income statement period: Beginning Ending 3a Has the partnership's income statement been restated for the income statement period on One 2? Yes. (II Yes,' attach a statement and the amount of each item restated) o No. b Has the partnership's income statement been restated for any of the five income statement periods preceding the period on the 2? I=1 Yes. (IIVas:attach a statement and the amount of each item restated.) Ora. 4a Worldwide consolidated net income (loss) from income statement source identified in Part I, tine 1 4a 2,911,734 b Indicate accounting standard used for line 4a (see instructions): GAAP 2 Q IFRS 3 0 704(b) 4 a Tax-basis 5 Other: (specify)► 54 Net income from nonincludible foreign entities (attach statement) b Net loss from flora:cloak) foreign entities (attach statement and enter as a positive amount) 5b 6a Net income from nonincludble U.S. entities (attach statement) ( ) b Net loss from nonlncludtle U.S. entities (attach statement and enter ass positive amount) 7a Net income (loss) of other foreign disregarded entities (attach statement) 7a b Net Income (loss) of other U.S. disregarded entities (attach statement) 7b 6 Adjustment to eliminations of transactions between Inaudible entities and nonincludbie entities (attach strap e 9 Adjustment to reconcile income statement period to tax year (attach statement) a 10 Other adjustments to reconcile to amount on the 11 (attach statement) 10 11 Net income (loss) per income statement of the partnership. Combine Ines 41 through 10 11 —2,911,734. Note. Part I, fine 11, must equal the amount on Part II, fine 26, column (a). 12 Enter the total amount (not just the partnership's share) of the assets and liabilities of all entities included or removed on the allowing Ines: Total Assets Tote! Liabilities a Included on Part I, line 4 22,207,986. 200,486. b Removed on Part I, ine 5 e Removed on Part I. in 6 d Included on Part I, line 7 For Paperwork Reduction Act Notice, see the Instructions for your return. Schedule 11-3 (Form 1085)2012 210991 11.20-12 MA 20 EFTA01127962 &modulo 1.1-3 tarn 1066) 2012 Page 2 Name ol parthershO Em " er BJAV MARINE, LTD Reconciliation of Net Income (Loss) per Income Statement of Partnership with mom) oss per Part II Return (a) (b) (c) d) Income (Loss) Items income (Loss) per Temporary Permanent Income Loss) per Income Statement Difference Difference Tax Return (Attach statements for fines 1 through 9) I Yearn NW tam !gay neva Sofelun corporal:ono 2 somerstegri ClYkkfaS not al . YSubpon F. OE. and Wiles 3 am rboluolcos 4 grew weiczwribences 5 weasecrtesteres t ) tem .sflm 6 us. miaow 7 Income (loss) from U.S. partnerships a hoom• Coss)tom Iceolgl pflon29196 ,.. room 0asn)tont ol1W pen- V trough oltnios 10 It? sorsitoloon not 11 Interest income (attach Form 6916-A) 12 Total accrual to cash adpstrnent 19 wedging transactons 14 Mark-to-market income (loss) 15 Cost of goods sold (attach Form 8916-A) ( ) ( ) S leall ((btells. 16 owe( lonotool 17 Section 481(a) adpstments 18 Unearned/deferred revenue 14 eicomeerecen tsfrom ot°721nPrnriaes woos. and 20 uns1inlets. 21a Income statement gainAoss on sale, exchange, abandonment, worthlessness, or other apposition of assets other than inventory and pass-through entities b Gross capital gains from Schedule D, excluding amounts from pass-through entities c Gross capital losses from Schedule D, excluding amounts from pass-through entities, abandonment losses, and worthless stock losses d Net gain/loss reported on Form 4797, line 17, excluding amounts from pass-through entitles, abandonment losses, and worthless stock losses e Abandonment losses I itotiliono Stan rue txn o Other oninnoso on 0ttooshoo ol soot* sear 1hon Invonginy .... Other MOM. 10134 karts ye. a Ottoman fettxh saternen1) 23 Total income (loss) Items. Combine ins 1 through 22 24 Total expense/deductioo items (from Pat III, line 31) (see instructions) . -1,364,703. 21,500. -1,343,203. 25 Other items with no differences 02MT... a_ -1 ,547,031.f,-, -2,911,734. -1,547,031. 21,500. -2,890,234. 26 Reconciliation totals. Combne 5nes 23 through 25 Note. Line 26, column (a), must equal the amount on Part I, line 11, and column (d) must equal Fpm 1065, Analyses of Get Income (Loss), line 1. JWA Schedule PA•3 (Form 1065) 2012 210962 11.20.12 21 EFTA01127963 BJAV MARINE, LTD SCHEDULE M-3 OTHER INCOME (LOSS) AND EXPENSE / DEDUCTION STATEMENT 3 ITEMS WITH NO DIFFERENCES PER INCOME PER TAX DESCRIPTION STATEMENT RETURN OTHER INCOME (LOSS) - SEE STATEMENT 3,206,396. 3,206,396. OTHER EXPENSE / DEDUCTION - SEE STATEMENT -4,753,427. -4,753,427. TOTAL TO SCHEDULE M-3, PART II, LINE 25 -1,547,031. -1,547,031. SCHEDULE M-3 OTHER INCOME (LOSS) ITEMS WITH NO DIFFERENCES STATEMENT 4 INCOME INCOME (LOSS) (LOSS) PER INCOME PER TAX DESCRIPTION STATEMENT RETURN SALES 3,206,396. 3,206,396. TOTAL TO SCHEDULE M-3, PART II, LINE 25 3,206,396. 3,206,396. 22 STATEMENT(S) 3, 4 EFTA01127964 9Chic101611-3 (Form 1065) 20 12 Page 3 Nome of partnership • fon number BJAV MARINE, LTD Reconciliation of Net Income (Loss) per Income Statement of Partnership WithIncome oss per Part Return - Expense/Deduction Items (a) lb) (C) (0) Expense/Deduction Items Expense per Temporary Permanent Deduction per income Statement Difference Difference Tax Return 1 State and local current income tax expense 2 Stale and local deterred income tax expense 3 Foreign current income tax expense (other than foreign withholding taxes) 4 Foreign deferred Income tax expense S Equity-based corroensabion 6 Meals and enterlainmeM STMT 5 43,000. -21,500. 21,500. 7 Fines and penalties 8 tr emor . 'Nana 9 Guaranteed payments 10 Pension and mord-sharing .. 11 Other post-retirement benefits 12 Deferred compensation 13 Charitable contribution of cash and tutor progeny 14 cav int,,9ba:r"ro„Pir a 15 Organizational expenses as per Regulations section 1.709-2(a) 18 sinmmmmoinsmaperfembomesectleum266 - 17 Current year acquisithankeorganIzaben investment banking fees 18 Current year acquisitioNreorganizston legal and accounting lees 19 AmorittatioNimparneeff of goochrid 20 Amortization of acquisban, readandailon, and start-vp costs 21 "" rat STMT 6 12,844. 12,844. 22 r.InepmO facile., 19: sewleren•ms Grata 23e Depletion - Oil & Gas b Depletion - Other than DI & Gas 24 IntanMble drilling & development costs 25 Depreciation 1,308,859. 1,308,859. 28 Bad debt expense 27 Interest expense (attach Form 8916-A) 28 Purchase versus lease (for purchasers and/or lessees) 29 sawduswetwropemmmiu 30Other expense/deduction items wilt differences (attach statement) 31 Total expense/deduction Items. Gambill) lines 1 through 30. Enter here and on Part luine 24. reporting positive amounts as negative and negative amounts as positive 1,364,703. —21,500. 1,343,203. JWA Belied* /4-3 (Form 1016)2012 210993 1140-.2 23 EFTA01127965 BJAV MARINE, LTD MEALS AND ENTERTAINMENT STATEMENT 5 SCHEDULE M-3 EXPENSE DEDUCTION PER INCOME TEMPORARY PERMANENT PER TAX STATEMENT DIFFERENCE DIFFERENCE RETURN DESCRIPTION MEALS AND ENTERTAINMENT FROM 43,000. -21,500. 21,500. TRADE OR BUSINESS TOTAL 43,000. -21,500. 21,500. OTHER AMORTIZATION OR STATEMENT 6 SCHEDULE M-3 IMPAIRMENT WRITE-OFFS EXPENSE DEDUCTION PER INCOME TEMPORARY PERMANENT PER TAX STATEMENT DIFFERENCE DIFFERENCE RETURN DESCRIPTION 12,844. 0. 12,844. DEFERRED ACQUISITION COSTS 12,844. 0. 12,844. TOTAL OTHER EXPENSE/DEDUCTION ITEMS STATEMENT 7 SCHEDULE M-3 WITH NO DIFFERENCES EXPENSE/ EXPENSE/ DEDUCTION DEDUCTION PER INCOME PER TAX STATEMENT RETURN DESCRIPTION ADVERTISING 7,753. 7,753. 51,866. 51,866. AGENT FEES 9,949. 9,949. BANK CHARGES 198,235. 198,235. BROKER COMISSION 19,752. 19,752. CHARTS AND PUBLICATIONS COMMUNICATION 112,560. 112,560. 4,612. 4,612. CREW EDUCATION 29,756. 29,756. CUSTOMS AND LANDING FEES 287,640. 287,640. DOCKAGE 11,108. 11,108. EMPLOYEE BENEFIT PROGRAMS EMPLOYEE HOUSING COSTS (FOR CONVENI 138,002. 138,002. 41,214. 41,214. FOOD & BEVERAGE -5,873. -5,873. FX LOSS 175,369. 175,369. INSURANCE OFFICE EXPENSE 13,455. 13,455. 35,000. 35,000. PROFESSIONAL FEES 24 STATEMENT(S) 5, 6, 7 EFTA01127966 BJAV MARINE, LTD RECRUITING 10,920. 10,920. REPAIRS AND MAINT., M-3 D 919,406. 919,406. SALARIES AND WAGES 1,404,060. 1,404,060. SHIPPING 197,512. 197,512. STORAGE 2,664. 2,664. SUPPLIES 269,484. 269,484. TEMPORARY LABOR 106,221. 106,221. TRANSPORTATION 30,173. 30,173. UNIFORMS 23,713. 23,713. UTILITIES 591,391. 591,391. VESSEL CLASSING 67,485. 67,485. TOTAL TO SCHEDULE M-3, PART II, LINE 25 4,753,427. 4,753,427. 25 STATEMENT(S) 7 EFTA01127967 SCHEDULE C (Form 1065) Additional Information for Schedule M-3 Filers OgiCable 2011) DIAS No. 1545.0099 Devalmmt of V.Teacny ► Attach to Form 1065. See separate instructions. Inurnal Rtkierta Servite Name of partnershp Enylwer idenbkalkon no,0er BJAV MARINE, LTD Yes No 1 At any time during the tax year, were there any transfers between the partnership and its partners subject to the disclosure requirements of Regulations section 1.7074? 2 Do the amounts reported on Schedule kW, Part II, lines 7 a 8, column (d), reflect allocations to this partnership from another partnership of income, gat, loss, deduction, or credit that are disproportionate to this partnership's share of capital In such partnership or its ratio for sharing other items of such partnership? 3 At any time during the tax year, did the partnership see, exchange, or transfer any interest In an Intangible asset to a related person as defined in sections 267(b) and 70701X1P 4 At any time during the tax year, did the partnership acquire any Merest in en Intangible asset from a (Mad person as defined in sections 267(b) and 707(bX1)? 5 At any time during the tax year, did the partnership make any change in accounting principle for financial accounting purposes? See instructions for a definition of change in accounting principle 6At any time during the tax year, did the partnership make any change in a method of atcountrg for U.S. Income tax purposes? MA For Paperwork Reduction Act Notice, see the lastructIons for Form 1065. Soliedel• C (Fern 1006) (Rev. 12-2011) 211151 05.01.12 26 EFTA01127968