AFM_451_attach_Q1_TVB_FS

AFM_451_attach_Q1_TVB_FS - (in thousands of dollars 2006...

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Exhibit to question 1 Page 1 of 2 Question one TVB Software Balance Sheet For the year ended December 31, (in thousands of dollars) 2006 2005 $ $ Assets Current Assets Prepaids 237 410 Accounts receivable 6,146 5,410 Inventory 13,904 9,382 20,287 15,202 Other Assets Fixed assets 13,640 14,975 Goodwill 4,084 4,310 Other assets 6,950 7,010 24,674 26,295 44,961 41,497 Liabilities and Shareholder Equity Current Liabilities Bank indebtedness 4,940 1,749 Accounts payable 10,641 5,940 Deferred revenue 140 3,643 Current portion of long-term debt 1,400 1,400 17,121 12,732 Long-term Debt 18,210 19,990 Share Capital 8,500 8,500 Retained Earnings 1,130 275 Total Liabilities and Capital 44,961 41,497
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Exhibit to question 1 Page 2 of 2 Question one TVB Software Income Statement For the years ended December 31
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Unformatted text preview: (in thousands of dollars) 2006 2005 Sales 21,724 31,490 Cost of Sales 15,908 20,130 Gross Margin 5,816 11,360 Sales and Administrative Expenses Salaries 1,760 3,170 Research costs 304 3,775 Marketing and sales 501 2,607 Interest 1,739 1,889 Other 657 16 4,961 11,457 Net Income Before Taxes 855 -97 Income Taxes - 203 Net Income 855 -300 TVB Software For the year ended December 31 From Note 1—Accounting Policies Goodwill Goodwill is amortized to income over its 40-year life. From Note 7—Fixed Assets Fixed assets comprises. December 31, 2006 Accumulated Book Cost Depreciation Value Computer Equipment 29,790 26,100 3,690 Furniture and Fixtures 10,650 7,700 2,950 Building 11,000 4,000 7,000 Total 51,440 37,800 13,640...
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