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<br />I. <br />I <br /> <br />TUNNEL WATER COMPANY, INC. <br />BALANCE SHEETS <br />November 30, 1998 and 1997 <br /> <br />ASSETS <br /> <br />CURRENT ASSETS: <br />Cash <br />Assessments receivable, Water Supply <br />& Storage Company, Inc. <br />Account receivable <br />prepaid insurance <br />Total current assets <br /> <br />PROPERTY AND EQUIPMENT, AT COST: <br />Land, easements, reservoirs and ditches <br />Buildings <br />Furniture and fixtures <br />Transportation equipment <br />Machinery and equipment <br /> <br />Less accumulated ~epreciation <br /> <br />TOTAL ASSETS <br /> <br />LIABILITIES AND NET ASSETS <br /> <br />CURRENT LIABILITIES: <br />Accrued payroll taxes <br />Accounts payable, Water Supply & Storage <br />Company, lnc" <br />Total current liabilities <br /> <br />NET ASSETS: <br />capital stock, no par value, authorized <br />'and issued 450 shares <br />Unrestricted operating <br /> <br />TOTAL LIABILITIES AND NET ASSETS <br /> <br />See accompanying notes to financial statements. <br /> <br /> 1998 <br />$ 19,130 <br /> S,OOO <br /> 70 <br /> 862 <br /> 2S,062 <br /> 360,582 <br /> 37,727 <br /> 1,332 <br /> 24,738 <br /> 39,601 <br /> 463,980 <br /> (285,153) <br /> 178,827 <br />$ 203,889 <br /> <br />$ <br /> <br />llS <br /> <br />1,290 <br />1. 405 <br /> <br />202,484 <br /> <br />$ 203,889 <br /> <br />1997 <br /> <br />9,444 <br /> <br />1,615 <br />859 <br />11,918 <br /> <br />360,S82 <br />37,727 <br />1,332 <br />24,738 <br />39,601 <br />463,980 <br />(278,200) <br />185,780 <br /> <br />197,698 <br /> <br />129 <br /> <br />302 <br />431 <br /> <br />197,267 <br /> <br />197,698 <br />