FairPoint Communications 2003 Annual Report Download - page 126

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TOTAL ASSETS $4,683,747 $3,930,058
2
ILLINOIS VALLEY CELLULAR RSA 2-III PARTNERSHIP
BALANCE SHEETS
December 31, 2002 and 2001
2002
2001
LIABILITIES AND PARTNERS' CAPITAL
CURRENT LIABILITIES
Current portion of long-term debt $ — $236,690
Capital lease obligation 11,495 —
Notes payable 1,500,000 400,000
Accounts payable:
Trade 107,184 38,031
Affiliates 401,580 429,224
Other 130,070 151,128
Accrued commissions 39,849 51,572
Advance billings 2,383 3,683
Other 154,660 123,789
2,347,221 1,434,117
LONG-TERM OBLIGATIONS
Capital lease obligation 52,175 —
PARTNERS' CAPITAL 2,284,351 2,495,941
TOTAL LIABILITIES AND PARTNERS' CAPITAL $4,683,747 $3,930,058
The accompanying notes are an integral part of these financial statements.
3
ILLINOIS VALLEY CELLULAR RSA 2-III PARTNERSHIP
STATEMENTS OF INCOME
Years Ended December 31, 2002, 2001, and 2000
2002
2001
2000
OPERATING REVENUES
Retail service $3,469,059 $3,227,973 $3,047,399
Roamer service 2,521,150 3,344,344 2,573,368
Equipment sales 101,694 111,163 85,863
Miscellaneous services 788,808 637,263 442,516
6,880,771 7,320,743 6,149,146
OPERATING EXPENSES
Cost of sales 3,628,394 3,563,141 2,817,688
Cost of equipment sales 578,473 570,489 555,587
Selling, general, and administrative 2,280,964 2,080,607 1,758,277
Depreciation 580,137 493,940 489,717
7,067,968 6,708,177 5,621,269