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<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 />E C DEVELOPMENT COUNSELLORS INTERNATIONAL, L TO.
<br />. (AN S CORPORATION)
<br />I
<br />accountants & advisors BALANCE SHEETS
<br />
<br />FOR THE YEARS ENDED DECEMBER 31,
<br />
<br />2009
<br />
<br />ASSETS
<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
<br />1,004,654
<br />211,820
<br />1,703
<br />32,328
<br />20,849
<br />114,733
<br />1,412,560
<br />
<br />Property and equipment -Isss accumulated depreciation
<br />of $ 850,606 and $ 771,442 in 2009 and 2008 respectively
<br />
<br />605.764
<br />255,190
<br />2,273,514
<br />
<br />Security deposits
<br />Total Assets
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<br />$
<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
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<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,
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<br />$ 28,799
<br />1,238,155
<br />196,704
<br />1,703
<br />25,479
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<br />141,985
<br />1,632,825
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<br />684,929
<br />261,250
<br />$ 2,579,004'
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<br />$ 298,113
<br />54,392
<br />3,750
<br />500,000
<br />16,955
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<br />58,712
<br />67,262
<br />999,184
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