MANHATTAN ELECTRICAL SUPPL

consolidated ba

at december

ASSETS
 

Current Assets:

Cash in Banks and on Hand................................

Notes Receivable ....................................................

Accounts Receivable ..............................................                                $790,820.52

Less: Reserve for Doubtful Accounts................                                     18,677.46

Inventories   (at  Cost  or   Market,   whichever   is
lower)   ........................................................

Total Current Assets......................

Investments in and Advances to Affiliated

Companies......................................................

Fixed Assets:

Real Estate ............................................................                                $367,841.32

Buildings   ..............................................................      $344,438.08

IMach'y, Tools, Patterns and Equipment............         416,006.41

Office and Store Furniture and Fixtures............         110,399.05

$870,843.54^
Lrss:    Reserve for Depreciation.....................         322,900.51        $547,943.03

Deferred Charges:

Prepaid Rent, Insurance, Taxes, Interest, etc—                                 $ 12,809.15

Development   of   New   Products—Deferred........                                    77,609.92
 

$   584,616.92
19,311.21

772,143.06

959,713.98

$2,335,785.17

$   398,010.49
 

915,784.85
 

Patents, Tr-^demarks and Goodwill of Par¬
ent Company and Subsidiaries
 

$3,528,868.84
$7",268,868.42
 

CERTIFICATE OF

^Ve have examined the books and records of the MANHATTAN ELECTRICAL SUPPLY COMPANY, INC. AND
We have not verified the value of the Investments in and Advances to Affiliated Companies, which are stated at cost.
Subject to the foregoing we hereby certify that this Balance Sheet sets forth, in our opinion, the true linancial position of
 

New York, March 8,   1927.