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TIMOTHY ROSE CONTRACTING , INC . <br /> BALANCE SHEET <br /> DECEMBER 31 , 2007 <br /> ASSETS <br /> CURRENT ASSETS : <br /> Cash $ 53 , 548 <br /> Marketable securities 501316 <br /> Contracts receivable 21052 , 370 <br /> Cost and estimated earnings <br /> in excess of billings on <br /> uncompleted contracts 11 , 588 <br /> Other receivables 17 , 050 <br /> Total Current Assets $ 21184 , 872 <br /> PROPERTY AND EQUIPMENT : <br /> Construction equipment 31123 , 917 <br /> Office furniture and equipment 46 , 091 <br /> Vehicles 11095 , 229 <br /> 4 , 265 , 237 <br /> Less : Accumulated depreciation 3 , 911 , 043 <br /> 354 , 194 <br /> OTHER ASSETS : <br /> Security deposits 517 <br /> 2 . 539 . 583 <br /> LIABILITIES AND STOKHOLDERS' EQUITY <br /> CURRENT LIABILITIES : <br /> Current portion of long term debt $ 1051955 <br /> Accounts payable 693 , 783 <br /> Billings in excess of costs and estimated <br /> earnings on uncompleted contracts 54 , 445 <br /> Other payables 81849 <br /> Total Current Liabilities $ 863 , 032 <br /> LONG TERM DEBIT : <br /> Long term debt , less current portion 150 , 608 <br /> STOCKHOLDERS' EQUITY : <br /> Common stock , $ 1 par value , 500 shares <br /> authorized , issued and outstanding 500 <br /> Additional paid -in capital 277 , 897 <br /> Retained earnings 1 , 247 , 546 <br /> 1 , 525 . 943 <br /> 2539_• 583 <br /> Read the accompanying notes and accountants ' review report <br /> 2 <br />