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ERNEST ENERGY, INC. AND SUBSIDIARIES <br />CONSOLIDATED BALANCE SHEET <br />DECEMBER 31, 2022 <br /> <br />See independent accountants’ compilation report. <br />3 <br />CURRENT LIABILITIES: <br />Accounts payable 128,818$ <br />Contract liabilities 22,847 <br />Accrued expenses and other current liabilities 59,846 <br />Total Current Liabilities 211,511 <br />LONG-TERM LIABILITIES: <br />Contingent liabilities 685,000 <br />Note payable from stockholder 32,999 <br />Total Long-Term Liabilities 717,999 <br />Total Liabilities 929,510 <br />CONTINGENCIES <br />EQUITY: <br />Common stock - $.01 par value; 10,000,000 shares authorized, <br /> 90,000 shares issued and outstanding 900 <br />Additional paid-in capital 3,435,000 <br />Accumulated deficit and members' deficit (1,313,730) <br />Total Equity 2,122,170 <br />TOTAL LIABILITIES AND EQUITY 3,051,680$ <br />LIABILITIES AND EQUITY