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Schmidt Construction
<br />Divisional Balance Sheet
<br />December 31, 2002
<br />Assets
<br />Current Assets
<br />Cash $ 375,902
<br />Investments 7,512
<br />Accounts receivable -Including retainages of $1,358,482 7,320,938
<br />Inventories 1,614,985
<br />Prepaid expenses and other current asseu 246,274
<br />Total current assets 9,565,61 I
<br />Property, Plant, and Equipment
<br />Land 4,448,388
<br />Land improvements 600,000
<br />Buildings I ,200,000
<br />Machinery and equipment 20,040,649
<br />Transportation equipment 2,183,452
<br />Furniture and fixtures 146,212
<br />Total property, plant, and equipment 28,616,701
<br />Less accumulated depreciation 17,806,147
<br />Net property, plant, and equipment 10,812,554
<br />Amounts Due from Edw. C. Levy Co. and Affiliates -Net 15,841,40 i
<br />Other Assets 364,698
<br />Total asseu $ 36,584,264
<br />Liabilities and Divisional Equity
<br />Current Liabilities
<br />Accounts payable -Including retainages of $337, 135 $ I ,961,778
<br />Accrued wages, taxes, and other 217,861
<br />Total current liabilities 2,179,639
<br />Divisional Equity 34,404,625
<br />Total liabilties and divisional equity $ 36,584,264
<br />See Notes to Divisional Balance Sheet. 2
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