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<br />PROFESSIONAL GENERAL ENGINEERING CONSULTANT
<br />
<br />RFQ # 07-07-01
<br />
<br />REYNOLDS, SMITH AND HILLS, INC.
<br />CONSOLIDATED BALANCE SHEETS
<br /> March 31, April t,
<br /> 2006 2005
<br />ASSETS
<br />Current assets:
<br />Cash and equivalents $ 13,156,000 $ 13,603,000
<br />Accounts receivable, net of allowance of $320,000 and $224,000,
<br />respectively 15,398,000 9,870,000
<br />Unbilled service revenue 7,311,000 7,537,000
<br />Deferred income taxes 596,000 513,000
<br />Prepaid expenses and other current assets 238,000 121,000
<br />T 0la1 current assets 36,699,000 31,644,000
<br />Property and equipment, net 1,761,000 1,935,000
<br />Goodwill 1,734,000 1,660,000
<br />Deferred income taxes 268,000
<br />Other assets 197,000 115,000
<br /> $ 40,659,000 $ 35,354,000
<br />LIAB]LITlES AND SHAREHOLDERS' EOUITY
<br />Current liabilities:
<br />Current portion oflong-term debt $ 106,000 $ 220,000
<br />Accounts payable 4,302,000 4,738,000
<br />Accrued expenses 7,929,000 6,304,000
<br />Unearned service revenue 8,591,000 8,293,000
<br />Total current liabilities 20,928,000 19,555,000
<br />Long-term debt, excluding cunent portion 318,000 424,000
<br />Deferred income taxes 14,000
<br />Other liabilities 379,000 343,000
<br />T otalliabilities 21,625,000 20,336,000
<br />Commitments and contingencies (Notes 7 and 8)
<br />Shareholders' Equity:
<br />Common Stock, $.0 I par value, 4,000,000 shares authorized,
<br />524,000 and 500,000 issued and outstanding, respectively 5,000 5,000
<br />Paid-in capital 4,844,000 4,284,000
<br />Notes receivable from employee stock purchases (965,000) (865,000)
<br />Retained earnings 15,150,000 11,594,000
<br />Total shareholders' equity 19,034,000 ]5,018,000
<br /> $ 40,659,000 $ 35,354,000
<br />See accompanying noles to consolidated fmancial statements.
<br />
<br />IIS6.
<br />
<br />,.,.ROVlNG YOUII WORLD
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