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<br />SOUTHEASTERN ENGINEERING CONTRACTORS, INC.
<br />BALANCE SHEETS
<br />JUNE 30,
<br />
<br />ASSETS 2009 2008
<br />CURRENT ASSETS
<br />Cash and cash equivalents $ 2,875,221 $ 1,019,660
<br />Contracts receivable 7,364,618 6,083,254
<br />Costs and estimated earnings in excess of billings
<br />on uncompleted contracts 115,913
<br />Total current assets 10,239,839 7,218,827
<br />PROPERTY AND EQUIPMENT - NET 876,804 808,392
<br />OTHER ASSETS 14,557 13,101
<br /> $ 11,131,200 $ 8,040,320
<br />
<br />LIABILITIES AND STOCKHOLDERS' EQUITY
<br />CURRENT LIABILITIES
<br />Short-term borrowings $ $ 136,972
<br />Current portion of long-term debt 181,435 165,245
<br />Accounts payable - trade 1,594,741 1,771,742
<br />Accrued expenses 12,396 29,565
<br />. Billings in excess of costs and estimated earnings
<br />on uncompleted contracts 4,477,102 2,913,776
<br />Total current liabilities 6,265,674 5,017,300
<br />LONG - TERM DEBT 286,100 168,866
<br />DUE TO STOCKHOLDERS 200,000 200,000
<br />STOCKHOLDERS' EQillTY
<br />Common stock - 50 shares of $1 0 par value
<br />authorized, issued and outstanding 500 500
<br />Paid-in capital in excess of par 69,000 69,000
<br />Retained earnings 4,309,926 2,584,654
<br /> 4,379,426 2,654,154
<br /> $ 11,131,200 $ 8,040,320
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<br />Read Accountants' Review Report
<br />The accompanying notes are an integral part of this statement
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