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TLC Diversified, Inc.
<br />Balance Sheets
<br />December 31, 2020 and 2019
<br />Assets 2020 2019
<br />Current assets:
<br />Cash and cash equivalents $ 5,208,934 $ 4,628,487
<br />Accounts receivable 8,250,081 9,082,543
<br />Other receivable 14,115 59049
<br />Costs and estimated earnings in excess of
<br />billings on uncompleted contracts 1,404,247 1,890,592
<br />Prepaid expenses and deposits 30,098 27,495
<br />Total current assets 14,907,475 15,634,166
<br />Fixed assets:
<br />Leasehold improvements
<br />101,218
<br />101,218 .
<br />Vehicles and trailers
<br />1,453,362
<br />1,327,837
<br />Construction equipment
<br />1,593,316
<br />1,638,952
<br />3,147,896
<br />3,068,007
<br />Less: accumulated depreciation
<br />1,467,144
<br />1;x278,450
<br />Fixed assets, net
<br />1,680,752
<br />1,789,557
<br />Cash surrender value of life insurance policies
<br />14,162
<br />19,341
<br />Total assets
<br />$ 16,602,389 $
<br />17,443,064
<br />Liabilities and shareholders' equity
<br />Current liabilities:
<br />Accounts payable $ 4,714,235 $ 6,066,389
<br />Accrued liabilities 768,170 472,299
<br />Billings in excess of costs and estimated earnings
<br />on uncompleted contracts 914,958 1,227,103
<br />Current portion of long term debt 71,277 95,095
<br />Total current liabilities 6,468,640 7,860,886
<br />Longterm debt less current portion - 71,277
<br />Shareholders' equity:
<br />Capital stock, $1 par, 1,000 shares
<br />authorized; 200 issued and outstanding 200 200
<br />Retained earnings 10,133,549 9,510,701
<br />Total shareholders' equity 109133,749 9,510,901
<br />'dotal liabilities and shareholders' equity $ 16,602,389 $ 17.441064
<br />See accompanying notes and auditors'report.
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