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F/K/A SHANDONG RUITAI CHEMICAL CO., LTD.
CONSOLIDATED BALANCE SHEETS
(AUDITED)
December December
2007 2006
ASSETS
Current Assets:
Cash and cash equivalents $ 4,166,713 $ 6,286,289
Bank checks and
commercial paper 621,204 1,191,451
Accounts receivable, net 3,053,295 3,364,632
Due from unaffiliated suppliers 1,112,948 930,213
Prepaid expenses 2,876,820 2,360,481
Inventory 6,656,028 5,209,747
Advance to employees 113,297 56,735
Total current assets 18,600,305 19,399,548
Property and Equipment, net 11,306,271 6,592,796
Land use right, net 4,859,620 4,650,814
Long-term investment 830,984 779,200
Due from a related party 14,829,593 8,804,112
Restricted cash 14,738,564 12,244,750
Total Assets $ 65,165,337 $ 52,471,220
LIABILITIES AND OWNERS' EQUITY
Current Liabilities:
Bank loan $ 19,269,317 $ 16,209,608
Bank checks payable 22,059,772 22,050,400
Accounts payable and accrued
expenses 7,657,437 5,542,712
Taxes payable 3,560,918 2,221,970
Deferred revenue 737,027 493,807
Due to e
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SOURCE China RuiTai International Holdings Co., Ltd. Copyright©2008 PR Newswire. All rights reserved | |
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