Creator:H Tracy Hall Inc
Date Created:August 1978
Place Created:Provo, Utah
Keywords:H Tracy Hall Inc,financial statements
Context:financial statements for 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:
9-1/2% notes payable to a bank Notes payable to stockholders Debentures payable
Total liabilities
$10,000 11,426 2,500
$10,000 11,426 2,500
23,926 23,926
Stockholders' equity:
Common stock, $1 par value Authorized - 50,000 shares Issued and outstanding - 25,000 shares Retained earnings
25,000 (19,866)
5,134
25,000 (19,090)
5,910
$29.060 $29.836

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H. TRACY HALL, INCORPORATED
STATEMENT OF EARNINGS (LOSS) AND RETAINED EARNINGS (ACCUMULATED DEFICIT)
(Unaudited)
Year ended
	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
f 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
Net earnings (loss)	(776)	(3,567)
Retained earnings (deficit) at beginning of year	(19,090)	(15,523)
Retained earnings (deficit) at end of year	$ 19.866	$ri9.090)
Net earnings (loss) per share	$(.03)	$(.14)
4^04530