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<br />BROOKS & FREUND, LLC
<br />BALANCE SHEETS
<br />DECEMBER 31, 2009 AND 2008
<br />ASSETS 2009 2008
<br />CURRENT ASSETS
<br />Cash and cash equivalents $ 2,834,922 $ 5,366,957
<br />Contract receivables, net of allowance for doubtful accounts
<br />of $24,247 and $24,837, respectively (Note 2) 3,629,423 7,701,185
<br />Certificates of deposit 2,582,978 2,500,000
<br />Costs and estimated earnings in excess of billings on
<br />uncompleted contracts (Note 3) 311,502 369,313
<br />Other assets 2,424 2,424
<br />Total current assets 9,361,249 15,939,879
<br />NOTE AND ADVANCE RECEIVABLES (NOTE 5) 581,218
<br />PROPERTY AND EQUIPMENT (NOTE 4) 386,316 474,662
<br /> $ 10,328,783 $ 16,414,541
<br />LIABILITIES AND MEMBERS' EQUITY
<br />CURRENT LIABILITIES
<br />Accounts payable and accrued liabilities (Note 6) $ 4,309,281 $ 8,088,092
<br />Billings in excess of costs and estimated earnings on
<br />uncompleted contracts (Note 3) 3,196,491 4,767,208
<br />Current maturities of long-term debt 8,429 8,601
<br />Total current liabilities 7,514,201 12,863,90 I
<br />LONG-TERM DEBT 8,430
<br />COMMITMENTS AND CONTINGENCIES
<br />(NOTES 9,10 AND 11)
<br />MEMBERS' EQUITY (NOTE 8) 2,814,582 3,542,210
<br /> $ 10,328,783 $ 16,414,541
<br />
<br />See accompanying notes.
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