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Water: Economics

Policy & Guidance: Exhibit 3-7

Interim Economic Guidance for Water Quality Standards 

XYZ, inc.
CONSOLIDATED
BALANCE
SHEETS
SEPTEMBER 30, 1988 AND 1987


1988 1987
ASSETS Current Assets:


Cash and cash equivalents $ 2,944,964 $ 1,459,475

Cash investments 2,244,061 3,369,289

Trade receivables - less allowance for doubtful accounts: 1988, $85,352; 1987, $135,353 5,025,964 4,171,421

Inventories 4,109,264 3,335,251

prepaid expenses and other 725,964 122,370

Total current assets

15,050,217

12,457,806



Property, Plant and Equipment:




Land 356,217 296,217

Buildings and Improvements 5,476,155

4,837,392


Machinery and equipment 2,160,671

1,546,476


Transportation equipment 1,866,005

1,705,107


Office furniture and equipment 463,750

483,769


Total 10,322,798

8,868,961


Less accumulated depreciation 4,705,580

4,207,598


Property - net

5,617,218

4,661,363



Other Assets:




Intangible assets - less accumulated amortization: 1988, $197,437; 1987, $239,281

226,728

252,884


Insurance trust 1,122,796 1,066,964

Other

89,287 77,778

Total other assets

 

1,438,811

1,397,626


Total

$22,106,246

$18,516,795


LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities:

Current portion of long-term debt $ 17,902 $ 32,405
Accounts payable - trade 5,049,234 2,686,669
Accrued income taxes
21,400

Accrued payroll and employee benefits 681,369 678,752

Container deposits 1,054,373 1,199,263

Other accruals 198,477 178,736

Total current liabilities

7,001,355

4,797,225



Long-term debt 53,706 71,608


Deferred income taxes 249,900 242,200


Shareholders' Equity:


Common stock - authorized 4,000,000 shares of $.05
par value, issued: 1988, 3,592,673; 1987, 3,268,337
179,634 163,417

Additional paid-in capital 14,671,885 12,084,817

Retained earnings (deficit) (50,234) 1,157,528

Total shareholders' equity

14,801,285

13,405,762



Total $22,106,246 $18,516,795

See accompanying Notes to Financial Statements

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