Creator:H Tracy Hall Inc
Date Created:August 1978
Place Created:Provo, Utah
Keywords:H Tracy Hall Inc,financial statements
Context:financial statements from year ended August 31, 1978
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H. TRACY HALL, INCORPORATED
UNAUDITED FINANCIAL STATEMENTS YEARS ENDED AUGUST 31, 1978 AND 1977
Elmer Fox,Westheimer & Co.
Certified Public Accountants
H. TRACY HALL, INCORPORATED
UNAUDITED FINANCIAL STATEMENTS YEARS ENDED AUGUST 31, 1978 AND 1977
Elmer Fox, Westheimer & Co.
Certified Public Accountants
Board of Directors H. Tracy Hall, Incorporated Provo, Utah
The accompanying balance sheet of H. Tracy Hall, Incorporated as of August 31, 1978 and August 31, 1977 and the related statements of earnings and retained earnings for the fiscal years then ended were not audited by us and accordingly we do not express an opinion on them.
These statements are for internal use by management and do not include a statement of changes in financial position or all disclosures that might be required for a fair presentation to third parties.
Provo, Utah October 4, 1978
H. TRACY HALL, INCORPORATED BALANCE SHEET (Unaudited)
ASSETS
	August	31,
	1978	1977
Current assets:		
Cash	$ 2,070	$ 4,240
Prepaid expenses	14,348	9,169
Total current assets	16,418	13,409
Property and equipment, at cost:		
Machinery and equipment	33,093	32,501
Less accumulated depreciation	20,451	16,074
	12,642	16,427
	$29,060	$29,836
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
9-l/27o notes payable to a bank $10,000	$10,000
Notes payable to stockholders 11,426	11,426
Debentures payable 2,500	2,500
Total liabilities 23,926	23,926
Stockholders' equity:
Common stock, $1 par value Authorized - 50,000 shares
Issued and outstanding - 25,000 shares 25,000	25,000
Retained earnings (19,866)	(19,090)
5,134	5,910
$29.060	$29.836
H. TRACY HALL, INCORPORATED
STATEMENT OF EARNINGS (LOSS) AND RETAINED EARNINGS (ACCUMULATED DEFICIT)
(Unaudited)
Year ended
Net earnings (loss)
Retained earnings (deficit) at beginning of year Retained earnings (deficit) at end of year
Net earnings (loss) per share
(776) (19,090) $ 19.866
$(.03)
	1978	1977
Net sales	$ 8,652	$ 5,844
Cost of sales	2,165	600
Gross margin on sales	6,487	5,244
Other earnings:		
Interest income	170	264
Gross earnings	6,657	5,508
Operating expenses:		
Salaries and wages	-	-
Insurance	92	366
Freight and express	284	67
Supplies	560	296
Interest expense	1,005	594
Travel expense	-	136
Taxes and licenses	6	70
Dues and subscriptions	-	124
Rent	97	185
Depreciation and amortization	4,382	5,327
Utilities	602	765
Miscellaneous expense	405	1,145
	7,433	9,075
(3,567) (15,523) $(19.090)
$(.14)