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I <br /> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--Continued <br /> ADJUSTERS INTERNATIONAL, INC. AND SUBSIDIARIES <br /> IDecember 31, 2016 and 2015 <br /> I <br /> INOTE E--LONG-TERM DEBT <br /> Long-term debt is summarized as follows: <br /> I <br /> ,�/,L,0�I6 2015 <br /> 126 Business Park Partners �OU <br /> IMortgage payable to a bank with monthly installments of\' <br /> principal and interest through oSeptember 2021. Interest\ <br /> variable at the prime rate (3.75% at December 31, 203:16 a od <br /> I3.25% at December 31, 2015) and cannot be less than 25/o <br /> (floor) or exceed 6.25% (ceiling). The note is guarant ed by <br /> Adjusters International, Inc. and C. L. & S. Properties, Inc., a <br /> Irelated party partner in 126 Business Park Partners $ 770,657 $ 922,402 <br /> O <br /> Less deferred financing costs net of accumulated amortization of <br /> I $10,422 and $8,436, respectively (9,439) (11,425) <br /> Less current maturities ‹b' (159,166) (154,083) <br /> I o Q <br /> c.\ $ 602,052 $ 756,894 <br /> I Substantially all of 126 Bus tress Park Partners' assets are pledged under ageneral security <br /> ��� �. <br /> agreement as collator l for the long-term debt. <br /> IISubsequent maturities of long-term debt for the year ended December 31 are: 2018--$164,416; <br /> 2019--$169,840; 2020--$175,443 and 2021--$101,792. <br /> Il <br /> NOTE F--INCOME TAXES <br /> 1 The components of the deferred tax assets and(liabilities)are as follows: <br /> 2016 2015 <br /> IDeferred tax assets: <br /> Non-deductible accruals and reserves $ 38,000 $ 47,000 <br /> State and local net operating loss carryforwards, net 3,000 47,000 <br /> Depreciation and amortization 97,000 -0- <br /> Investment in partnerships 130,000 -0- <br /> I • <br /> Deferred income tax assets 268,000 94,000 <br /> -17- <br /> I <br />