Lumber Liquidators 2007 Annual Report Download - page 54

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Lumber Liquidators, Inc.
Balance Sheets
(in thousands, except share data)
December 31,
2007 2006
Assets
Current Assets:
Cash and Cash Equivalents ............................................... $ 33,168 $ 3,965
Merchandise Inventories ................................................. 72,024 51,758
Prepaid Expenses ....................................................... 4,011 3,638
Other Current Assets .................................................... 3,862 3,359
Total Current Assets ............................................... 113,065 62,720
Property and Equipment, net .................................................. 11,580 9,332
Deferred Income Taxes ...................................................... 1,220 3,737
Other Assets .............................................................. 2,559 2,231
Total Assets .............................................................. $128,424 $78,020
Liabilities and Stockholders’ Equity (Deficit)
Current Liabilities:
Accounts Payable ...................................................... $ 15,654 $16,296
Customer Deposits and Store Credits ....................................... 9,609 6,804
Accrued Compensation .................................................. 3,157 1,566
Other Current Liabilities ................................................. 7,694 5,292
Current Portions of Long-Term Debt and Capital Lease Obligations .............. 122 3,065
Total Current Liabilities ............................................ 36,236 33,023
Stock Compensation Liability ................................................. — 9,132
Long-Term Debt and Capital Lease Obligations .................................. — 6,538
Redeemable Preferred Stock .................................................. — 34,795
Stockholders’ Equity (Deficit):
Common Stock ($0.001 par value and no par value, respectively; 35,000,000
authorized; 26,752,118 and 15,000,100 issued and outstanding, respectively) ..... 27 —
Additional Capital ...................................................... 87,553 1,250
Retained Earnings (Deficit) ............................................... 4,608 (6,718)
Total Stockholders’ Equity (Deficit) ...................................... 92,188 (5,468)
Total Liabilities and Stockholders’ Equity (Deficit) ............................. $128,424 $78,020
See accompanying notes to financial statements
48