Audiovox 2006 Annual Report Download - page 102

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Audiovox Specialized Applications, LLC and Subsidiary
(A Limited Liability Company)
Consolidated Balance Sheets
November 30, 2006 and 2005
2006 2005
Assets
Current Assets
Cash and cash equivalents ..................................... $ 1,017,540 $ 1,119,463
Available-for-sale securities ...................................... 3,570,000 10,250,000
Trade receivables ............................................. 4,849,471 3,934,525
Inventories................................................... 15,018,215 9,112,246
Prepaid expenses ............................................. 115,530 110,115
Total Current Assets ...................................... 24,570,756 24,526,349
Leasehold Improvements and Equipment at depreciated cost ........ 1,850,088 1,710,386
Intangible Assets, trademark rights ............................... 2,647,623 2,647,623
$29,068,467 $28,884,358
Liabilities and Members’ Equity
Current Liabilities
Accounts payable............................................. $ 2,078,898 $ 1,522,570
Accrued expenses:
Payroll and related taxes .................................... 1,214,604 720,660
Warranty .................................................. 2,307,000 2,390,000
Other ..................................................... 131,117 105,579
Total Current Liabilities ................................... 5,731,619 4,738,809
Commitments and Contingencies
Members’ Equity ............................................... 23,336,848 24,145,549
$29,068,467 $28,884,358
See Notes to Financial Statements.
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