| ASSETS |
|
| Current Assets |
|
| Checking/Savings |
|
| Cash & Equivalents-Note 3 |
110,419 |
| Total Checking/Savings |
110,419 |
| Other Current Assets |
|
| Maintenance Receivable-Note 3 |
22,492 |
| Prepaid Expenses |
166,501 |
| Total Other Current Assets |
188,993 |
| Total Current Assets |
299,412 |
| Fixed Assets |
|
| Fixed Assets-Note 3 |
4,460,817 |
| Land |
2,077,614 |
| Less-Accumulated Depreciation |
(3,894,256) |
| Total Fixed Assets |
2,644,175 |
| Other Assets |
|
| Intangible Assets-Note 6 |
47,925 |
| Less-Accumulated Amortization |
(33,541) |
| Total Other Assets |
14,384 |
| TOTAL ASSETS |
2,957,971 |
| LIABILITIES & EQUITY |
|
| Liabilities |
|
| Current Liabilities |
|
| Other Current Liabilities |
|
| Accrued Expenses |
112,679 |
| Due to ABC Management Corp. |
-0- |
| Due to New York City-Note 5 |
43,786 |
| Due to owners-NYC Tax Abatement |
89,586 |
| Due to owners for Scries |
16,035 |
| Prepaid Maintenance |
10,948 |
| Total Other Current Liabilities |
273,034 |
| Total Current Liabilities |
273,034 |
| Long Term Liabilities |
|
| Mortgages Payable-Note 7 |
2,400,508 |
| Security Payable |
2,901 |
| Total Long Term Liabilities |
2,403,409 |
| Total Liabilities |
2,676,443 |
| Equity |
|
| Additional Paid in Capital |
4,500,897 |
| Common Stock |
50,757 |
| Retained Earnings (Deficit) |
(3,847,609) |
| Treasury Stock-Note 8 |
(422,517) |
| Total Equity |
281,528 |
| TOTAL LIABILITIES & EQUITY |
2,957,971 |