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Schmidt Constlruction
<br />Divisional Balance Sheet
<br />December 31, 2003
<br />Assets
<br />Current Assets
<br />Cash $ 630,365
<br />Accounts receivable -Including retainages of $1,894,500 10,619, I OI
<br />Inventories 1,175,157
<br />Prepaid expenses and other current asses 249,092
<br />Tonal current asses 12,673,715
<br />Property, Plant, and Equipment
<br />Land 4,448,386
<br />Land improvements 682,227
<br />Buildings 8,678,588
<br />Machinery and equtpment 883,012
<br />Transportation equipment 11,649,351
<br />Total property, plant, and equipment 26,341,566
<br />Less accumulated depreciation 16,769,144
<br />Net property, plant, and equipment 9,572,422
<br />AmOUtltS Due from Edw. C. Levy Co. and Affiliates -Net 15,771,110
<br />Other Assets 364,698
<br />Total asses $ 38,381,945
<br />Liabilities and Divisional Equity
<br />Current Liabilities
<br />Accounts payable -Including retainages of $404,698 $ 1,700,950
<br />Notes payable -Former stockholders -Current portion (Note 3) 352,983
<br />Accrued wages, taxes, and other 419,490
<br />Total current liabilities 2,473,423
<br />Notes Payable -Former stockholders -Net of current portion (Note 3) 4,446,208
<br />Divisional Equity 3 I ,462,3 14
<br />Total liabilities and divisional equity $ 38,381,945
<br />See Notes to Divisional Balance Sheet. 2
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