THE PRESENT THEATRE COMPANY, INC. FINANCIAL STATEMENTS For the Year Ended December 31, 2007 With Independent Auditors’ Report Contents • Independent Auditors’ Report 1 • Financial Statements o Statement of Financial Position 2 o Statement of Activities and Changes in Net Assets 3 o Statement of Functional Expenses 4 o of Cash Flows 5 • Notes to Financial Statements 6 - 7 THE PRESENT THEATRE COMPANY, INC.STATEMENT OF FINANCIAL POSITIONDECEMBER 31, 2007ASSETSCURRENT ASSETSCash and Cash Equivalents $ 19,345Investment Securities 1,312Total Current Assets 20,657PROPERTY AND EQUIPMENTEquipment 6,310Less: Accumulated Depreciation (1,949)Property and Equipment, Net 4,361Total Assets $ 25,018LIABILITIES AND NET ASSETSLIABILITIESAccrued ExAccrued Expenses penses $ 1313,591,591Due to Officer 1,138Total Current Liabilities 14,729NET ASSETSUnrestricted Fund Balance 10,289Total Liabilities and Net Assets $ 25,018See Accompanying Notes to Financial Statements2THE PRESENT THEATRE COMPANY, INC ...
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