<PAGE>
 
                 ZAPATA HAYNIE CORPORATION PROFIT-SHARING PLAN
                 ---------------------------------------------

                 ZAPATA CORPORATION MASTER PROFIT-SHARING TRUST
                 ----------------------------------------------


        STATEMENT OF EARNINGS AND CHANGES IN PARTICIPATING PLANS' EQUITY
        ----------------------------------------------------------------

                     FOR THE YEAR ENDED SEPTEMBER 30, 1992
                     -------------------------------------

<TABLE>
<CAPTION>
 
 
                                                         Money Market/                   Zapata
                                                           Guaranteed       Fixed        Common
                                             Equity        Investment       Income       Stock
                                              Fund       Contract Fund       Fund         Fund          Total
                                          -------------  --------------  ------------  ----------   --------------
<S>                                       <C>            <C>             <C>           <C>          <C>
 
PARTICIPATING PLANS' EQUITY, beginning
 of year                                   $10,567,573      $6,612,045    $1,784,612    $153,211     $19,117,441
 
 
CONTRIBUTIONS:
   Employee                                  1,037,772         507,137       126,521      21,522       1,692,952
   Employer                                     72,503         122,679         8,842      12,969         216,993
 
INTEREST INCOME                                  7,135         551,442       154,041         376         712,994
 
DIVIDEND INCOME                                313,503               -             -           -         313,503
 
GAIN (LOSS) ON SALE OF SECURITIES
                                               (55,906)              -        (2,418)      1,255         (57,069)
 
UNREALIZED APPRECIATION IN INVESTMENTS:
   Common stocks                             1,205,036               -             -      33,202       1,238,238
   Preferred stocks                             33,880               -             -           -          33,880
   Corporate obligations                             -               -        66,010           -          66,010
   U.S. Treasury notes and
    agencies                                         -               -        51,802           -          51,802
 
 
ADMINISTRATIVE EXPENSES                       (163,301)       (126,003)      (24,724)          -        (314,028)
                                           -----------      ----------    ----------    --------     -----------
                                            13,018,195       7,667,300     2,164,686     222,535      23,072,716
 
WITHDRAWALS, net of transfers
   between funds                              (921,458)       (846,802)      (93,845)    (19,431)     (1,881,536)
                                           -----------      ----------    ----------    --------     -----------
 
 
PARTICIPATING PLANS' EQUITY, end of
   year                                    $12,096,737      $6,820,498    $2,070,841    $203,104     $21,191,180
                                           ===========      ==========    ==========    ========     ===========  
</TABLE>

    The accompanying notes to exhibit and foregoing notes to the financial
      statements of Zapata Haynie Corporation Profit-Sharing Plan are an
                        integral part of this exhibit.

                                     F-17