DIVERSIFIED ROYALTY CORP.  ConsolidatedStatementof Financial Position  (Expressed in Canadian dollars)  December 31, 2014and 2013  2014  2013  Assets  Current assets:  Cash and cash equivalents  $  34,510,514  $ 68,999,809  Royalty receivable from Franworks (note 4) 1,062,224  -  Amounts receivable (note5)  434,564  392,598  Prepaid expenses and other 125,975  149,382  36,133,277  69,541,789  Deferred income tax asset (note  6)  10,328,049  -  Intangible assets, Franworks Rights(note 7)  108,755,000  -  $ 155,216,326  $ 69,541,789  Liabilities and Shareholders' Equity Current liabilities:  Accounts payable and accrued liabilities  $  615,626  $  407,074  Current tax liabilities -  57,881  Provisions (note 8)  1,499,040  615,112  Restricted share unitobligations  60,847  -  Current portion of long -term liability (note 9)  79,000  79,000  2,254,513  1,159,067  Long-term liability (note9)  519,986  574,057  Long-term bankloan (note 10)  14,804,733  -  Shareholders' equity:  Share capital (note 11)  115,013,462  97,155,660  Contributed surplus  8,209,663  8,664,249  Retained earnings (accumulated deficit)  14,413,969  (38,011,244)  137,637,094  67,808,665  $ 155,216,326  $ 69,541,789  Nature ofoperations (note 1)  Contingencies (note8)  The accompanying notesare an integral part of theseconsolidated financial statements. 1 