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UNDERWATER ENGINEERING SERVICES, INC.
<br />BALANCE SHEETS
<br />DECEMBER 31, 2017 AND 2016
<br />CURRENT ASSETS:
<br />Cash and cash equivalents
<br />Accounts receivable, net
<br />Accounts receivable - related party
<br />Advances to related parties
<br />Prepaid expenses and other current assets
<br />Total Current Assets
<br />PROPERTY AND EQUIPMENT, NET
<br />OTHER ASSETS:
<br />Advances to related parties
<br />Other assets
<br />Total Assets
<br />ASSETS
<br />2017
<br />$ 105,572
<br />1,538,485
<br />35,591
<br />3,500,000
<br />111,108
<br />5,290,756
<br />250,701
<br />20,731,491
<br />31,807
<br />20,763,298
<br />2016
<br />$ 19,367
<br />1,383,168
<br />12,551
<br />3,500,000
<br />100,837
<br />5,015,923
<br />334,301
<br />19,971,391
<br />31,807
<br />20,003,198
<br />$ 26,304,755 $ 25,353,422
<br />LIABILITIES AND STOCKHOLDER'S EQUITY
<br />CURRENT LIABILITIES:
<br />Accounts payable
<br />Deferred revenue
<br />Accrued expenses and other current liabilities
<br />Total Current Liabilities
<br />COMMITMENTS AND CONTINGENCIES
<br />STOCKHOLDER'S EQUITY:
<br />Common stock, $.10 par value; authorized
<br />50,000 shares; 25,005 shares
<br />issued and outstanding
<br />Additional paid -in capital
<br />Retained earnings
<br />Total Stockholder's Equity
<br />Total Liabilities and Stockholder's Equity
<br />$ 203,748
<br />94,368
<br />1,959,389
<br />2,257,505
<br />2,500
<br />1,411,196
<br />22,633,554
<br />24,047,250
<br />$ 282,389
<br />71,515
<br />2,327,311
<br />2,681,215
<br />2,500
<br />1,411,196
<br />21,258,511
<br />22,672,207
<br />$ 26,304,755 $ 25,353,422
<br />The accompanying notes are an integral part of these financial statements.
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