Creator:H Tracy Hall
Date Created:August 31, 1976
Place Created:Provo, Utah
Keywords:H Tracy Hall Inc,financial statements
Context:financial statements from year ended August 31, 1976
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H. TRACY HALL, INCORPORATED
UNAUDITED FINANCIAL STATEMENTS YEARS ENDED AUGUST 31, 1976 AND 1975
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, 1976 and August 31, 1975 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 September 16, 1976
H. TRACY HALL, INCORPORATED BALANCE SHEET (Unaudited)
ASSETS
	August	31,
	1976	1975
Current assets:		
Cash	$ 6,644	$24,800
Prepaid expenses	70	135
Total current assets	6,714	24,935
Property and equipment, at cost:		
Machinery and equipment	32,501	30,108
Less accumulated depreciation	10,812	6,727
	21,689	23,381
	$28,403	$48,316
LIABILITIES AND STOCKHOLDERS' EQUITY		
Liabilities:		
Accounts payable	$	$ 168
9-1/2% note payable to a bank	5,000	-
Notes payable to stockholders	11,426	11,426
Debentures payable	2,500	2,500
Total liabilities	18,926	14,094
Stockholders' equity:		
Common stock, $1 par value		
Authorized - 50,000 shares		
Issued and outstanding - 25,000 shares	25,000	25,000
Retained earnings	(15,523)	9,222
	9,477	34,222
	$28,403	$48,316
H. TRACY HALL, INCORPORATED
STATEMENT OF EARNINGS (LOSS) AND RETAINED EARNINGS (ACCUMULATED DEFICIT)
(Unaudited)
Year ended August 31,
1976	1975
Net sales	$ 13,342 $27,095
Cost of sales Gross margin on sales
Other earnings: Interest income Gains on sale of equipment
Gross earnings
u f	
6,773	18,843
637	1,441
-	36,117
637	37,558
7,410	56,401
Operating expenses:
Salaries and wages	1,100	7,885
Insurance	320	374
Freight and express	138	1,773
Supplies	-	8,516
Interest expense	236	1,555
Travel expense	2,889	3,589
Taxes and licenses	723	2,598
Dues and subscriptions	305	413
Rent	-	2,900
Depreciation and amortization	4,150	4,178
Utilities	719	809
Miscellaneous expense	988	1,472
	11,568	36,062
Net earnings (loss)	(4,158)	20,339
Retained earnings (deficit) at beginning of year	9,222	11,383
Dividends paid	(20,587)	(22,500)
Retained earnings (deficit) at end of year	$(15,523)	$ 9.222
Net earnings (loss) per share	$(.17)	$.81