Laserfiche WebLink
<br />Annual Report for 1988 <br /> <br />STATEMENT OF CHANGES IN FINANCIAL POSITION <br />For Yeafs Ended December 31,1988 and 1987 <br />SCHEDULE OF CHANGES IN WORKING CAPITAL <br /> <br />1988 <br /> <br />1987 <br /> <br />INCREASE <br />(DECREASE) <br /> <br />CURRENT ASSETS <br />Cash......... . <br />Unpaid Assessments <br />Supplies Inventory. <br />Patronage Dividends . . . . . . . . <br />TOTAL CURRENT ASSETS. <br /> <br />.$ <br /> <br />(4,082.16) <br />14,519.40 <br />3,033.61 <br />16,069.92 <br />29,594,77 <br /> <br />$ 28,021.86 $ (32,104.02) <br />11,652.82 2,866.58 <br />8,242.70 (5,209.09) <br />13,689.56 2,380.36 <br />$ 61,606.94 $ (32,066.17) <br /> <br />.. .$ <br /> <br />CURRENT LIABILITIES <br />Current Portion-Long Term Debt <br />Accrued Interest Payable. <br />TOTAL CURRENT LIABILITIES. ........ $ <br />NET CHANGE IN WORKING CAPITAL. . , . $ <br /> <br />40,802.00 <br />4,641.94 <br />45,443.94 $ <br />(15,849.17) $ <br /> <br />37,849.00 2,953.00 <br />8,492.54 (3,850.60) <br />46,341.54 $ ( 897.60) <br />15,265.40 $ (31,166.571 <br /> <br />SCHEDULE OF RESOURCES <br /> <br />1988 <br /> <br />RESOURCES PROVIDED BY: <br />Operations: <br />Net Income. . . <br />Add: Expenses not requiring Cash Outlayl <br />Depreciation .... . <br />TOTAL RESOURCES PROVIDED <br /> <br />$ (18,224.09) <br /> <br />36,084.99 <br />$ 17,860.90 <br /> <br />RESOURCES APPLIED TO: <br />Purchase Fixed Assets. . . . . . . . . <br />Reduction Long Term Debt. . . . . . . . . . . . <br />Reclassify Current Portion Long term Debt. <br />C.Stock Investment. . . . . . . . . . . <br />TOTAL RESOURCES APPLIED. <br />NET DECREASE IN WORKING CAPITAL. <br /> <br />$ 5,974.65 <br />37,849.00 <br />2,953.00 <br />2,252.82 <br /> <br />49,029.47 <br />$ (31,168.57) <br /> <br />I wish to thank the Directors, Officers, Stockholders and <br />Employees for their cooperation, and the kind consideration shown <br />me as Secretary. <br /> <br />Respectfully submitted, <br />Kerry Bezona, Secretary <br /> <br />Page 12 <br />