| BALANCE SHEET |
|
| ASSETS |
|
| Current Assets |
|
| Cash in bank- operating accounts |
1,598 |
| Shareholders' arrears receivable |
166 |
| Miscellaneous receivables |
66 |
| Prepaid expenses (Page 12) |
203 |
| Contract work in progress (Note 13) |
1,298 |
| Reserve fund (Page 12) |
5,967 |
| Total current assets |
9,296 |
| Land, Building and Equipment (Note 2) |
|
| Land |
24,507 |
| Building |
73,520 |
| Building improvements |
22,329 |
| Fixed equipment |
251 |
| Oil burner |
247 |
| Total land, building and equipment |
120,853 |
| Less: accumulated depreciation |
82,804 |
| Net land, building, equipment |
38,049 |
| TOTAL ASSETS |
47,345 |
| LIABILITIES |
|
| Current Liabilities |
|
| Accounts payable and accrued expenses (Page 12) |
2,519 |
| Maintenance received in advance |
100 |
| New York State Franchise tax payable (Note 5) |
-0- |
| Shareholders' deposits payable |
105 |
| Mortgage note payable- current (Note 3) |
1,718 |
| Total current liabilities |
4,442 |
| Long Term Liabilities |
|
| Mortgage note payable. (Notes 3 & 12) |
16,800 |
| Total long term liabilities |
16,800 |
| Total liabilities |
21,242 |
| STOCKHOLDERS' EQUITY |
|
| Capital stock- par value $1.00, authorized 70,000 shares, issued and outstanding 67,164 shares |
740 |
| Paid in capital |
77,974 |
| Accumulated deficit |
(52,611) |
| Total stockholders equity |
26,103 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
47,345 |