Audiovox 2008 Annual Report Download - page 116
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Audiovox Specialized Applications, LLC and Subsidiary
(A Limited Liability Company)
Consolidated Balance Sheets
November 30, 2007 and 2006
2007 2006
ASSETS
Current Assets
Cash and cash equivalents $ 1,267,393 $ 1,017,540
Available-for-sale securities 4,900,000 3,570,000
Trade receivables 5,411,975 4,849,471
Inventories 15,181,445 15,018,215
Prepaid expenses 135,982 115,530
Total current assets 26,896,795 24,570,756
Leasehold Improvements and Equipment at depreciated cost 2,122,580 1,850,088
Intangible Assets, trademark rights 2,647,623 2,647,623
$ 31,666,998 $ 29,068,467
LIABILITIES AND MEMBERS' EQUITY
Current Liabilities
Accounts payable $ 1,541,118 $ 2,078,898
Accrued expenses:
Payroll and related taxes 1,457,057 1,214,604
Warranty 2,457,000 2,307,000
Other 83,165 131,117
Total current liabilities 5,538,340 5,731,619
Commitments and Contingencies
Members' Equity 26,128,658 23,336,848
$ 31,666,998 $ 29,068,467
See Notes to Financial Statements
2
Source: AUDIOVOX CORP, 10-K, May 14, 2008