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<br />THE GREELEY AND LOVELAND IRRIGATION COMPANY
<br />G~eeley. Colorado
<br />Balance Sheets
<br />October 31. 2002 and 2001
<br />
<br />ASSETS
<br />
<br />Current Assets
<br />Cash in Bank (Note 1)
<br />Restricted Cash (Notes 1 and 3)
<br />Note Receivable (Note 2)
<br />Accounts Receivable
<br />Federal Tax Refund Receivable
<br />Accrued Interest Receivable
<br />Prepaid Expense
<br />
<br />Total Current Assets
<br />
<br />Propertv Assets (Notes 1 and 3)
<br />Land and Water Rights
<br />Water Storage and Distribution System
<br />Buildings and Improvements
<br />Automotive Equipment
<br />Other Equipment
<br />Office Equipment
<br />:rotal
<br />Less: Accumulated Depreciation
<br />
<br />Total Property Assets
<br />
<br />Other Assets
<br />Stock in Other Companies - At Cost
<br />Note Receivable (Note 2)
<br />
<br />Total Other Assets
<br />
<br />Total lissets
<br />
<br />2002
<br />
<br />2001
<br />
<br />184,107 183,907
<br />3,609 3,517
<br />918 888
<br />34,202 43
<br />4,360 4,360
<br />113 131
<br />13,684 12,681
<br />240,993 205,527
<br />
<br />280,697 318,724
<br />3,825,517 3,825,517
<br />226,881 177,707
<br />190,588 190,588
<br />25,219 24,670
<br />13,949 13,949
<br />4,562,851 4,551,155
<br />(1,987,843) (1,907,156)
<br />2,575,008 2,643,999
<br />1,155 4,771
<br />5,053 5,97.0
<br />6,208 10,741
<br />
<br />2,822,209
<br />
<br />2,860,267
<br />
<br />Exhibit 1
<br />
<br />The accompanying notes are an integral part of these financial statements.
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