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W&J CONSTRUCTION CORPORATION
<br />BALANCE SHEETS
<br />December 31,
<br />2017 2016
<br />ASSETS
<br />CURRENT ASSETS
<br />Cash and cash equivalents $ 104,277 $ 1,648,760
<br />Restricted cash 281,477
<br />Contract receivables 7,195,804 5,361,288
<br />Cost and estimated earnings in excess of
<br />billings on uncompleted contracts 78,479 48,245
<br />Other current assets 15,200 349
<br />Total current assets 7,393,760 7,340,119
<br />PROPERTY AND EQUIPMENT, NET 372,822 318,476
<br />$ 7,766,582 $ 7,658,595
<br />LIABILITIES AND STOCKHOLDERS' EQUITY
<br />CURRENT LIABILITIES
<br />Accounts payable $ 5,595,689 $ 4,461,574
<br />Accrued expenses 29,997 42,357
<br />Billings in excess of costs and estimated
<br />earnings on uncompleted contracts 1,304,188 955,579
<br />Advances received on contracts 901,474
<br />Current portion of Tong -term debt 13,471 22,057
<br />Total current liabilities 6,943,345 6,383,041
<br />LONG-TERM LIABILITIES
<br />Long-term debt, net of current portion 43,031 36,602
<br />STOCKHOLDERS' EQUITY
<br />Common stock, 100 shares with no par value,
<br />authorized, issued, and outstanding
<br />Retained earnings
<br />2,900
<br />777,306
<br />2,900
<br />1,236,052
<br />780,206 1,238,952
<br />7,766,582 $ 7,658,595
<br />3
<br />See accompanying notes and independent accountant's review report.
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