Exhibit 99(h) ARKANSAS POWER & LIGHT COMPANY STATEMENT OF INCOME Twelve Months Ended March 31, 1994 (In Thousands) (Unaudited) Operating Revenues: $1,615,919 ---------- Operating Expenses: Operation and maintenance: Fuel and fuel-related expenses 262,505 Purchased power 359,230 Nuclear refueling outage expenses 35,428 Other operation and maintenance 360,319 Depreciation and decommissioning 137,817 Taxes other than income taxes 30,361 Income taxes 19,456 Amortization of rate deferrals 166,868 ---------- Total 1,371,984 ---------- Operating Income 243,935 ---------- Other Income (Deductions): Allowance for equity funds used during construction 3,502 Miscellaneous - net 64,371 Income taxes (27,983) ---------- Total 39,890 Interest Charges: Interest on long-term debt 105,735 Other interest - net 14,817 Allowance for borrowed funds used during construction (2,331) ---------- Total 118,221 Net Income 165,604 Preferred Stock Dividend Requirements and Other 20,498 ---------- Earnings Applicable to Common Stock $145,106 ==========