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OCEAN GATE GENERAL CONTRACTORS , INC . <br /> BALANCE SHEETS <br /> (EVIEWED-UNAUDITED) <br /> DECEMBER 319 2007 AND 2006 <br /> ASSETS <br /> Current assets : 2007 2006 <br /> Cash and cash equivalents $ 1 , 521 ,543 <br /> Investments $ 6079685 <br /> Contracts receivable 729 ,073 6269467 <br /> Contract retainage 291192949 757,299 <br /> Other receivables 1 , 3379462 387, 007 <br /> Costs and estimated earnings in excess of billings on 13 ,462 2 ,352 <br /> uncompleted contracts 132, 034 <br /> Employee loans 548 ,222 <br /> 50,05050 <br /> Prepaid expenses 1 , 0 _ <br /> Total current assets 21 , 603 <br /> 599049773 21950 , 635 <br /> Property and equipment: <br /> Construction equipment 361 ,484 <br /> Transportation equipment 330 , 883 <br /> Furniture and fixtures 216 ,259 214 ,216 . <br /> Leasehold improvements 127 , 948 80, 943 <br /> 25 ,559 13 ,557 <br /> Less - accumulated depreciation 731 ,250 6399599 <br /> (3619340) (266 ,554) <br /> 369 , 910 373 ; 045 <br /> Other assets : <br /> Deposits 29754 <br /> 2 , 094 <br /> $ 692779437 $ 3 , 325 , 774 <br />