Asian Apparel Manufacturing Corporation

Balance Sheets
(Amounts in Thousands of Pesos)
December 31
YR 08 YR 07 YR 06 YR 05
ASSETS
Current Assets
Cash 12,502 4,496 3,348 516
Deposits on letters of credit 2,064 554 0 16
Accounts receivable1 6,868 12,694 1,444 2,892
Inventories2 19,073 9,360 4,412 2,360
Prepaid expenses & other CA 2,088 600 2,276 330
Total current assets 42,595 27,704 11,480 6,114
Noncurrent Assets
Property and equipment3 11,406 4,228 2,766 2,990
Other assets 106 106 242 252
Total noncurrent assets 11,512 4,334 3,008 3,242
54,107 32,038 14,488 9,356

LIABILITIES AND EQUITY

Current Liabilities
Accounts payable & accrued expenses 6,532 1,976 52 110
Liabilities under trust receipt 5,352 12,982 9,208 5,588
Notes payable - bank 26,749 10,388 4,034 1,082
Current portion of long-term debt 162 146 0 206
Total current liabilities 38,795 25,492 13,294 6,986
Noncurrent Liabilities
Long-term debt 4,546 366 602 588
Due to affiliates 518 180 2,416 2,318
Total noncurrent liabilities 5,064 546 3,018 2,906
Total Liabilities 43,859 26,038 16,312 9,892
Equity
Capital stock 8,074 6,150 3,750 3,750
Retained earnings 2,174 (150) (5,574) (4,286)
Total equity 10,248 6,000 (1,824) (536)
54,107 32,038 14,488 9,356