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<br />TLC ENGINEEIUNG FOR ARCHITECTURE, INC.
<br />
<br />BALANCE SHEETS
<br />
<br />December 31,2008 and 2007
<br />
<br />ASSETS
<br />
<br /> 2008 2007
<br /> (Consolidated) (U nconsolidated)
<br /> CURRENT ASSETS:
<br /> Cash $ 4,400 $ 4,400
<br /> Accounts receivable - net of allowance for
<br /> doubtful accounts of $400,000 in each year 18,830,935 17,197,867
<br /> Unbilled revenue 1,647,043 3,559,108
<br /> Prepaid expenses 1,052,739 831,259
<br /> TOT AL CURRENT ASSETS 21,535,117 21,592,634
<br /> PROPERTY AND EQUIPMENT:
<br /> Leasehold improvements 4,551,929 4,287,564
<br /> Furniture and equipment 1,705,560 1,650,900
<br /> Computer equipment 4,919,292 4,045,361
<br /> 11,176,781 9,983,825
<br /> Less accumulated depreciation and amortization 4,989,753 3,788,370
<br /> PROPERTY AND EQUIPMENT - Net 6,187,028 6,195,455
<br /> ~ OTHER ASSETS:
<br /> ~ Prepaid expenses 170,592 285,282
<br /> Ie
<br /> Ii Goodwill 1,481,190
<br /> [
<br /> ~ Deposits 100,973 102,614
<br /> Cash value of life insurance policies 523,779 593,525
<br /> r~ Deferred income taxes 596,000
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<br /> fi TOT AL OTHER ASSETS 2,276,534 1,577 ,421
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<br /> i $ 29,998,679 $ 29,365,510
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