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<br /> PROCTOR CONSTRUCTION COMPANY
<br /> Combined Balance Sheets
<br /> December 31,2015 and 2014
<br /> Assets 2015 2014
<br /> Current assets:
<br /> Cash and cash equivalents 8,097,066 12,061,535,
<br /> Contract receivables (notes 4 and 8) 7,743,877 6,591,125
<br /> Costs and estimated earnings in excess of billings on
<br /> Uncompleted contracts(note 5) 73,375 30,611
<br /> Other receivables(note 9) 4,196 12,489
<br /> Other current assets 158,435 41,470
<br /> Total current assets 16,076,949 18,737,230
<br /> Net property and equipment(note 6) 352,648 651,504
<br /> Deposits and other assets 13,561 7,609
<br /> Liabilities and Eauitv
<br /> i.
<br /> Current liabilities: I.
<br /> Current installments of long-term debt(note 8) 40,000 160,000
<br /> Accounts payable and accrued expenses(note 7) 6,824,499 7,668',551
<br /> Billings in excess of costs and estimated earnings on
<br /> uncompleted contracts(note 5) 239,303 395,852.
<br /> Loan from stockholder(note 9) — 3,107,748
<br /> Total current liabilities 6,603$802 11,332,151
<br /> Long-term debt,excluding current installments(note 8) 40,000
<br /> Total liabilities . 6,603,802 11,372,151
<br /> Commitments and contingencies:(notes 10, 12 and 13)
<br /> Equity(note 3):
<br /> Proctor Construction Company stockholder's equity 5,,890,265 8,019;569
<br /> Proctor Construction Company,LLC members' equity 4,149091
<br /> MP 4,623
<br /> Total.combined equity 10,039,356 8,024,192
<br /> See accompanying notes to combined financial statements.
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