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<br />c <br /> <br />COASTAL CONTRACTING AND DEVELOPMENT, INC. <br />BALANCE SHEET <br />DECEMBER 31, 2010 <br /> <br />3 <br /> <br />LIABILITIES AND STOCKHOLDERS' EQUITY <br /> <br />CURRENT LIABILITIES <br />Accounts payable <br />Litigation settlement payable <br />Accrued estimated losses on uncompleted contracts <br />Billings in excess of costs and estimated <br />eamings on uncompleted contracts <br /> <br />$ 248,862 <br />6,000 <br />46,832 <br /> <br />47,227 <br /> <br />Total Current Liabilities <br /> <br />348,921 <br /> <br />STOCKHOLDERS' EQUITY <br />Common stock, $1 par value, 1,000 shares <br />authorized issued and outstanding <br />Paid-in capital <br />Retained earnings <br /> <br />1,000 <br />44,162 <br />689,891 <br /> <br />735,053 <br /> <br />c <br /> <br />$ 1,083,974 <br /> <br />c <br /> <br />See accompanying notes and independent accountants' review report. <br />