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<br /> 5 FINANCIAL BACKGROUND
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<br /> Fahlgren, Inc. and Subsidiaries
<br /> dba Fahlgren Mortine
<br /> Consolidated Balance Sheets
<br /> December 31, 2015 2014
<br /> Liabilities and Stockholders'Equity
<br /> Current Liabilities
<br /> Media accounts payable $ 7,433,146 S 7,282,240
<br /> Trade and other accounts payable 109,669 172,118
<br /> Accrued media liability 4,326,117 3,256,428 0
<br /> Client prebillings 812,009 1,402,725
<br /> Current portion of notes payable and longterm debt 1,890,481 2,040,798
<br /> Current portion of capital lease 6,080 68,962
<br /> Income taxes payable 160,455 •
<br /> Accrued expenses 830,944 583,154 0
<br /> Total Current Liabilities 15,568,901 14,806,425
<br /> Long-term Liabilities 0
<br /> Long-term debt,net of current portion 1,369,672 2,307,305
<br /> Capital lease obligation,net of current portion - 6,079 '1'
<br /> Deferred tax liability,net 187,397 346,000
<br /> Other non-current liabilities and deferrals 122,958 165,646
<br /> 1,680,027 2,825,030
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<br /> Total Liabilities 17,248,928 17,631,455
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<br /> Stockholders'Equity
<br /> Common stock(S1 par value;50,000 shares authorized;
<br /> 885 shares issued and outstanding in 2015 and 2014) 885 885
<br /> Additional paid in capital 375,076 375,076
<br /> Retained earnings 4,284,476 4,124,689
<br /> Total Stockholders'Equity 4,660,437 4,500,650 0
<br /> Total Liabilities and Stockholders'Equity $ 21,909,365 S 22,132,105 0
<br /> See accompanying notes to the consolidated financial statements. 0
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<br /> TURNER 56 RFP: 17-10-01 f `I
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