Each association formed under this chapter shall prepare and make out an annual report on forms furnished by the director of the State extension service of Clemson University containing:
(1) The name of the association;
(2) Its principal place of business; and
(3) A general statement of its business operations during the fiscal year, showing
(a) the amount of capital stock paid up and the number of stockholders, if a stock association, or the number of members and amount of membership fees received, if a nonstock association,
(b) the total expenses of operations,
(c) the amount of its indebtedness or liability and
(d) its balance sheets.