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SUNSHINE LAND DESIGN, INC.
<br />BALANCE SHEET
<br />DECEMBER 31, 2014 and 2013 As Restated
<br />(Read Accountant's Independent Review Report)
<br />ASSETS
<br />2014 2013 As Restated
<br />Current Assets
<br />Cash $ 465,450 $ 623.398
<br />Accounts Receivable - Trade 580,882 1,879,721
<br />Cost and Estimated Eamings in Excess of Billings
<br />on Uncompleted Contracts 0 109,011
<br />Deferred Tax Asset 211,612 0
<br />Loan Receivable — Shareholder 41,326
<br />Prepaid Construction Costs 9,510 0
<br />Prepaid Expenses 18.783 111.164
<br />Total Current Assets 1.327.563 2.733.394
<br />Equipment and Improvements at Cost
<br />Office Equipment 52,087 52,087
<br />Field Equipment 5,255,270 4,303,523
<br />Vehicles 1,293,638 1,270,138
<br />Leasehold improvements 1 1 1.865 1 1 1.865
<br />6,712,860 5,736,613
<br />Less Accumulated Depreciation ( 4.265.885) ( 3.765.171)
<br />Equipment and Improvements -Net 2.446.975 1.971.442
<br />TOTAL ASSETS $ 3,774,538 $ 4,704.836
<br />LIABILITIES AND STOCKHOLDERS' EQUITY
<br />Current Liabilities
<br />Current Maturity of Debt
<br />Accounts Payable
<br />Corporate Income Tax Payable
<br />Billings In Excess of Cost
<br />Total Current Liabilities
<br />$ 479,966
<br />160,168
<br />3,015
<br />32.654
<br />675.803
<br />$ 378,210
<br />842,041
<br />3,015
<br />102,729
<br />1.325.995
<br />Long Tenn Liabilities
<br />Long Term Debt 917.054 616.713
<br />Total Long Term Liabilities 917.054 616.713
<br />Deferred Income Taxes (note I)
<br />TOTAL LIABILITIES
<br />57.837 83.843
<br />1.650.694 2.026.551
<br />Stockholders' Equity
<br />Common Stock, $ I Per Share Authorized,
<br />Issued 3,750, Outstanding 1,875 Shares 3,750 3,750
<br />Additional Paid in Capital 1,000,614 1,000,614
<br />Retained Earnings 1,150,524 1,704,965
<br />Treasury Stock ( 31.044) ( 31.044)
<br />Total Stockholders' Equity 2.123.844 2.678.285
<br />TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,774,538 $ 4,704,836
<br />The accompanying notes are an integral part of these financial statements.
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