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<br /> I THE LAKE HENRY RESERVOIR COMPANY <br />i I <br /> BALANCE SHEET <br /> DECEMBER 31, 1999 AND 1998 <br /> I ASSETS <br /> 1999 1998 <br /> I CURRENT ASSETS <br /> Cash $ 42,263 $ 9,842 <br /> Accounts receivable 617 <br /> I Prepaid insurance 1,027 1,027 <br /> TOTAL CURRENT ASSETS 43,290 11,486 <br /> I OTHER ASSETS <br /> Mineral rights 2,409 2,409 <br /> I Water rights 30,000 30,000 <br /> TOTAL OTHER ASSETS 32,409 32,409 <br /> I PROPERTY AND EQUIPMENT <br /> Reservoir, canals and ditches 500,000 500,000 <br /> I Reservoir improvements 347,239 334,610 <br /> Machinery and equipment 3,716 3,716 <br /> 850,955 838,326 <br /> I Less accumulated depreciation (276,939) (268,803) <br /> NET PROPERTY AND EQUIPMENT 574,016 569,523 <br /> I TOTAL ASSETS $ 649,715 $ 613,418 <br /> I LIABILITIES AND STOCKHOLDERS' EQUITY <br /> CURRENT LIABILITIES <br /> I Accounts payable $ 13,861 $ 11,604 <br /> Deferred lease income 1,083 1,083 <br /> I TOTAL CURRENT LIABILITIES 14,944 12,687 <br /> STOCKHOLDERS' EQUITY <br /> I Capital stock no par value; authorized and issued 8967_58 shares 500,440 500,440 <br /> Retained earnings 134,331 100,291 <br /> I TOTAL STOCKHOLDERS' EQUITY 634,771 600,731 <br /> TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 649,715 $ 613,418 <br /> I <br /> I See Notes To Financial Statements <br /> Page 2 <br /> I <br />