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_ L <br /> L. H. TANNER CONSTRUCTION CORPORATION <br /> BALANCE SHEET <br /> I 1 May 31 , 2006 <br /> L ASSETS <br /> L CURRENT ASSETS <br /> Cash <br /> Loan receivable $ 64,375 <br /> Contract receivables 63000 <br /> Other receivable 246,396 <br /> Employee receivable <br /> 9,821 <br /> Costs and estimated earnings in excess of billings on uncompleted contracts 350 <br /> p 9.918 <br /> TOTAL CURRENT ASSETS 336,860 <br /> PROPERTY AND EQUIPMENT <br /> Furniture, fixtures, and equipment 261 ,074 <br /> Accumulated depreciation ( 108,361 ) <br /> 152,713 <br /> s <br /> TOTAL ASSETS $ 489,573 <br /> +� LIABILITIES AND STOCKHOLDER' S EQUITY <br /> CURRENT LIABILITIES <br /> Accounts payable $ 122.452 <br /> Payroll liabilities <br /> Billings in excess of costs and estimated earnings on uncompleted contracts 32 , 907 <br /> 0 <br /> TOTAL CURRENT LIABILITIES 155 ,359 <br /> STOCKHOLDER'S EQUITY <br /> Common stock. $4 . 00 par value, 1 , 000 shares authorized and issued 43000 <br /> Additional paid in capital <br /> Retained earnings 51 .550 <br /> 278 ,664 <br /> 334.214 <br /> TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 489,573 <br /> See accompanying notes and accountant's report. <br /> 2 <br /> r <br />