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<br />
<br />E C DEVELOPMENT COUNSELLORS INTERNATIONAL, L TO,
<br />. (AN S CORPORATION)
<br />
<br />I
<br />accountants & advisors . BALANCE SHEETS
<br />
<br />FOR THE YEARS ENDED DECEMBER 31,
<br />
<br />ASSETS
<br />
<br />2009 2008
<br />
<br />Current Assets:
<br />Cash and cash equivalents
<br />Accounts receivable
<br />Work in progress
<br />Investments
<br />Loans and exchanges
<br />Prepaid income taxes
<br />Prepaid expenses
<br />
<br />$ 26,473 $ 28,799
<br /> 1,004,654 1,238,155
<br /> 211,820 196,704
<br /> 1,703 1,703
<br /> 32.328 25,4 79
<br /> 20,849 0
<br /> 114.733 141,985
<br /> 1,412,560 1,632,825
<br />
<br /> 20.000 20,000
<br /> 1,584,565 1,619,820
<br /> (60.000) (60,000)
<br /> 1,544,565 1.579,820
<br />$ 2,273,514 $ 2,579,004
<br />
<br />Property and equipment - less accumulated depreciation
<br />of $ 850,606 and $ 771,442 in 2009 and 2008 respectively
<br />
<br />605,764
<br />
<br />Security deposits
<br />Total Assets
<br />
<br />255,190
<br />$ 2,273,514
<br />
<br />LIABILITIES AND SHAREHOLDERS' EQUITY
<br />
<br />Current Liabilities:
<br />Accounts payable and accrued expenses
<br />Accrued pension payable
<br />I ncome taxes payable
<br />Line of credit
<br />Lease payable
<br />Deferred income
<br />Deferred rent payable
<br />Deferred taxes payable
<br />Total Liabilities
<br />
<br />$
<br />
<br />28,148
<br />7,415
<br />o
<br />499,031
<br />9,776
<br />50,000
<br />58,712
<br />75,867
<br />728,949
<br />
<br />Shareholders' Equity
<br />Common stock - 100 shares issued and
<br />outstanding; without par value at aggregate
<br />stated value
<br />Retained earnings and undistributed "S" Corporation
<br />taxable earnings
<br />Less: Treasury Stock at Cost
<br />
<br />Total Liabilities and Shareholders' Equity
<br />
<br />See accountant's report and notes to financial statements.
<br />
<br />... --................ .
<br />. .' . . .
<br />
<br />. .;........-..-....;.... ..-....,
<br />. . ,.... ..... . "
<br />
<br />684,929
<br />261,250
<br />$ 2,579,004
<br />
<br />$ 298,113
<br />54.392
<br />3.750
<br />500,000
<br />16,955
<br />o
<br />58,712
<br />67,262
<br />999.184
<br />
<br />. .......--..-. .............
<br />," ," ..",", . " . ....... .
<br />.... .
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