Page 23 - Apple Supply Chain Co-op Inc. 2016 Annual Report.
P. 23
APPLE SUPPLY CHAIN CO-OP, INC.
BALANCE SHEETS
December 31, 2016 and 2015
2016 2015
ASSETS
Current assets
Cash and cash equivalents $ 297,530 $ 873,541
Current portion of member notes receivable (Note 4) 1,654,956 404,467
Income tax receivable 8,568 -
Interest receivable - 10,697
Total current assets 1,961,054 1,288,705
Investment at equity (Note 2) 1,233,055 1,172,355
Long-term member notes receivable (Note 4) - 412,735
Total assets $ 3,194,109 $ 2,873,795
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities
Accounts payable $ - $ 147,216
Current maturities of long-term debt (Note 5) 1,662,565 750,000
Accrued interest - 1,988
Accrued income taxes - 6,226
Total current liabilities 1,662,565 905,430
Long-term debt (Note 5) 275,000 750,000
Members’ equity (Note 1) 1,256,544 1,218,365
Total liabilities and members’ equity $ 3,194,109 $ 2,873,795
See accompanying notes to financial statements.
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