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<br />SOUTHEASTERN ENGINEERING CONTRACTORS, INC.
<br />BALANCE SHEETS
<br />DECEJ"fBER 31,
<br />
<br />ASSETS
<br />
<br />CURRENT ASSETS
<br />Cash and cash equivalents
<br />Contracts receivable
<br />Costs and estimated earnings in excess of billings
<br />on uncompleted contracts
<br />
<br />Total current assets
<br />
<br /> 2008 2007
<br />$ 2,035,194 5) 709,118
<br /> 6,797,1 12 6, I 57,279
<br /> 222,970 44.852
<br /> 9,055,276 6,911,249
<br /> 872,657 823.99 ]
<br /> 14,557 I 1.465
<br />$ 9,942,490 $ 7,746,705
<br />
<br />PROPERTY AND EQUIPMENT - NET
<br />
<br />OTHER ASSETS
<br />
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<br />
<br />LIABILITIES AND STOCKHOLDERS' EQUITY
<br />
<br />CURRENT LIABILITIES
<br />Short-term borrowings $ $ 236,397
<br />CUlTcnt portion of long-term debt 201,] 61 186.241
<br />Accounts payable - trade 2,332,609 1,951,338
<br />Accrued expenses 17,762 8.735
<br />Billings in exeess of eosts and estimated earnings
<br />on uncompleted contracts 3,241,468 2,800,706
<br />Total current liabilities 5,793,000 5,183.417
<br />DUE TO STOCKHOLDERS 200,000 397,000
<br /> .~.".;.:.\
<br />LONG - TERM DEBT ~-l~ ',' . 270,449
<br />[J;1" Y .., 154.361
<br />'.toP'" ~ ':... I., . 0(\'..':1
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<br />STOCKHOLDERS' EQUITY ",0:.(;\:,,,,.
<br />;~.ox ('",
<br />C0I111110n stock - 50 shares of S 1 0 par value
<br />authorized, issued and outstanding 500 500
<br />Paid-in capital in excess of par 69,000 69,000
<br />Retained earnings 3,609.54 ] ] ,942.427
<br /> 3,679,04] 2,011,927
<br /> $ 9,942,490 $ 7,746,705
<br />
<br />The accompanying notes are an integral part of this statement
<br />
<br />2.?
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