Horizon Exhibits

Horizon Exhibits - EXHIBIT 1 ENTERTAINMENT SYSTEMS, INC....

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EXHIBIT 1 ENTERTAINMENT SYSTEMS, INC. Balance Sheets as of December 31, 1980 - 1981 (000's) ASSETS 31-Dec-81 31-Dec-80 Cash $560 $906 8,104 7,747 Inventory 5,683 6,609 Tax Carryback Claim 777 0 Total Current Assets $15,124 $15,262 Net Fixed Assets 1,538 2,004 Net Leasehold Improvements 4,446 4,410 Other 631 642 169 113 183 173 Total Assets 22,091 22,604 Notes Payable--Devey Finance Corp. $5,619 $6,259 Accounts Payable 4,241 3,640 Misc. Accruals 774 1,272 TOTAL CURRENT LIABILITIES $10,634 $11,171 Common Stock 4,700 4,700 Retained Earnings 6,757 6,733 Total Equity 11,457 11,433
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Exhibit 2 ENTERTAINMENT SYSTEMS, INC. Income Statements as of December 31, 1980 - 1981 31-Dec-81 31-Dec-80 Gross Sales $35,223 $38,221 Less returns and allowances 2,678 3,602 Net Sales $32,545 $34,619 Cost of Goods Sold 22,416 23,177 Gross Margin $10,129 $11,442 Less operating expenses 11,773 10,938 Operating Profit
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Horizon Exhibits - EXHIBIT 1 ENTERTAINMENT SYSTEMS, INC....

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