| ASSETS |
|
| CURRENT ASSETS |
|
| Cash - Operating Account |
15,713 |
| Cash - Reserve Account |
-0- |
| Proprietary Charges Receivable |
-0- |
| Prepaid Expenses |
8,444 |
| Mortgage Escrow Account |
541 |
| Total Current Assets |
24,698 |
| PROPERTY- NET - Note 4 |
1,705,661 |
| OTHER ASSETS |
|
| Investment in National Cooperative Bank |
9,255 |
| Mortgage Finance Costs - Net |
16,008 |
| Total Other Assets |
25,263 |
| Total Assets |
1,755,622 |
| LIABILITIES & STOCKHOLDERS’ EQUITY |
|
| CURRENT LIABILITIES |
|
| Accounts Payable/Accrued Expenses |
32,669 |
| Due to Holder of Unsold Shares |
4,338 |
| Mortgage Payable - Current |
8,969 |
| Prepaid Proprietary Charges |
-0- |
| Total Current Liabilities |
45,976 |
| LONG-TERM LIABILITIES |
|
| NCB Mortgage Payable |
352,848 |
| Total Liabilities |
398,824 |
| STOCKHOLDERS' EQUITY |
|
| Capital stock - Common - 10,000 shares Authorized; 8,888 shares Issued and Outstanding at $1.00 par value |
8,888 |
| Additional Paid-In-Capital |
2,390,587 |
| Accumulated Deficit |
(1,042,677) |
| Total Stockhoiders' Equity |
1,356,798 |
| Total Liabilities and Stockholders’ Equity |
1,755,622 |