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2:54 PM <br />10/15/13 <br />Accrual Basis <br />Oligarchy Irrigation Company <br />Balance Sheet <br />As of December 31, 2012 <br />Page 1 <br />Dec 31, 12 <br />ASSNS <br />Current Assets <br />Checking /Savings <br />Checking <br />3,64439 <br />- - — I'doney- arkex_Savings <br />....... .... --- -._,._ <br />. -__ -- <br />Accounts Receivable <br />.Accounts Receivable <br />73,74 <br />-- -73.74 <br />Total Accounts Receivable_._ <br />Other Current Assets <br />Due from City of Longmont <br />9,116.33 <br />Due from Union Reservoir <br />34,025.31 <br />Total Other Current Assets <br />43,141.64 <br />Total Current Assets <br />152,999.18 <br />Fixed Assets <br />Fixed Assets <br />Depreciable Assets <br />Burch Lake Outlet Mod, 2012 <br />8,673.96 <br />Depreciable Assets - Other <br />8,561.00 <br />Total Depreciable Assets <br />17,234.96 <br />Accumulated Depreciation <br />- 11,523.00 <br />Total Fixed Assets <br />5,711.96 <br />Total Fixed Assets <br />5,711.96 <br />TOTAL ASSETS <br />156,711.14 <br />LIABILITIES & EQUITY <br />-- <br />Liabilities <br />Current Liabilities <br />Other Current Liabilities <br />Federal Tax Payable <br />478,00 <br />State Income Tax Payable <br />155.00 <br />Payroll Liabilities <br />State Withholding <br />345,00 <br />Total Payroll Liabilities <br />345.00 <br />Total Other Current Liabilities <br />978.00 <br />Total Current Liabilities <br />978.00 <br />Total Liabilities <br />978.00 <br />Equity <br />Equity Due from City of Longmon <br />9,116.33 <br />Equity Due from Union Reservoir <br />34,025.31 <br />Retained Earnings <br />88,984.31 <br />Net Income <br />26,407,29 <br />Total Equity <br />157,733.14 <br />TOTAL LIABILITIES & EQUITY <br />158,71114 <br />Page 1 <br />