Audiovox 2010 Annual Report Download - page 117

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Audiovox Specialized Applications, LLC and Subsidiary
(A Limited Liability Company)
Consolidated Balance Sheets
November 30, 2009 and 2008
2009 2008
ASSETS
Current Assets
Cash and cash equivalents $ 1,299,842 $ 5,012,292
Available-for-sale securities 8,005,000 3,995,000
Trade receivables 4,012,261 2,956,954
Inventories 8,373,154 14,376,282
Prepaid expenses 157,712 176,928
Total current assets 21,847,969 26,517,456
Leashold Improvements and Equipment at depreciated cost 2,742,061 1,999,681
Intangible Assets, trademark rights 2,647,623 2,647,623
$ 27,237,653 $ 31,164,760
LIABILITIES AND MEMBERS' EQUITY
Current Liabilities
Accounts payable $ 2,048,229 $ 1,368,205
Accrued expenses:
Payroll and related taxes 696,599 770,296
Warranty 2,329,000 2,647,000
Other 126,036 243,673
Total current liabilities 5,199,864 5,029,174
Commitments and Contingencies
Members' Equity 22,037,789 26,135,586
$ 27,237,653 $ 31,164,760
See Notes to Financial Statements
4
Source: AUDIOVOX CORP, 10-K, May 14, 2010 Powered by Morningstar® Document Research℠