Page 27 - 2019 Apple Supply Chain Co-op, Inc. Annual Report
P. 27
CENTRALIZED SUPPLY CHAIN SERVICES, LLC
BALANCE SHEETS
December 31, 2019 and 2018
2019 2018
ASSETS
Current assets
Cash and cash equivalents $ 4,671,304 $ 3,528,384
Accounts receivable 1,683,437 1,668,539
Prepaid expenses 753,392 66,202
Total current assets 7,108,133 5,263,125
Computers and equipment 314,111 314,111
Leasehold improvements 40,530 40,530
354,641 354,641
Accumulated depreciation (337,506) (324,289)
17,135 30,352
Total assets $ 7,125,268 $ 5,293,477
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities
Accounts payable $ 1,863,859 $ 1,696,544
Accrued payroll 1,609,445 1,380,041
Due to related party 5,258 -
Note payable (Note 4) 725,000 -
Total current liabilities 4,203,562 3,076,585
Deferred compensation (Note 2) 674,907 404,859
Members’ equity (Note 1) 2,246,799 1,812,033
Total liabilities and members’ equity $ 7,125,268 $ 5,293,477
See accompanying notes to financial statements.
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