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ValleyCrest Holding Co. and Subsidiaries
<br />Consolidated Balance Sheet
<br />April 30, 2008
<br />Assets
<br />Current assets:
<br />Cash $ 18,294,000
<br />Investments and escrowed retention 3,304,000
<br />Receivables:
<br />Trade receivables, less allowance for doubtful accounts
<br />of $4,067,000
<br />155,450,000
<br />Notes receivable
<br />1,044,000
<br />Other receivables
<br />1,675,000
<br />Total receivables
<br />158,169,000
<br />Costs and estimated earnings in excess of billings on
<br />uncompleted contracts 6,061,000
<br />Inventories 30,114,000
<br />Prepaid expenses 3,706,000
<br />Deferred tax assets 2,584,000
<br />Total current assets 222,232,000
<br />Property and equipment, at cost:
<br />Land
<br />Buildings and improvements
<br />Landscape equipment
<br />Office equipment and furniture
<br />Less accumulated depreciation and amortization
<br />Property and equipment, net
<br />Golf course properties, net of accumulated depreciation of
<br />$6,124,000
<br />Goodwill
<br />Intangible assets, net of accumulated amortization of
<br />$28,635,000
<br />Notes receivable and other long -term assets
<br />Total assets
<br />47,356,000
<br />27,800,000
<br />98,403,000
<br />11,202,000
<br />184,761,000
<br />(95,368,000)
<br />89,393,000
<br />6,580,000
<br />346,325,000
<br />143,229,000
<br />17,166,000
<br />$ 824,925,000
<br />See accompanying notes. 10 -1 t _ d 1
<br />2
<br />ValleyCrest Landsccpe Mair:t.
<br />16100 NW 127th Ave.
<br />Miami, FL 33018.1CC),., i
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