Print Page  Close Window

SEC Filings

S-4
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4 on 04/01/1999
Entire Document
 
<PAGE>
 
                    AMRAC CLEAR VIEW, A LIMITED PARTNERSHIP
 
                                 BALANCE SHEETS
 
                         At December 31, 1996 and 1997
 

<TABLE>
<CAPTION>
                          ASSETS                              1996       1997
                          ------                           ---------- ----------
<S>                                                        <C>        <C>
Current assets:
  Cash and cash equivalents............................... $  475,297 $  761,918
  Subscribers and other receivables, net of allowance for
   doubtful accounts of $2,500 in 1996 and $3,000 in 1997.     49,868     66,397
  Prepaid expenses:
    Legal.................................................        --      53,402
    Miscellaneous.........................................     28,016     20,633
                                                           ---------- ----------
      Total current assets................................    553,181    902,350
                                                           ---------- ----------
Property and equipment, net of accumulated depreciation
 $2,892,444 in 1996 and $3,015,081 in 1997................    473,438    468,844
                                                           ---------- ----------
Other assets:
  Franchise cost, net of accumulated amortization of
   $6,757 in 1996 and $7,417 in 1997......................      3,133      2,473
  Deferred financing costs, net of accumulated
   amortization of $60,247 in 1996 and $73,447 in 1997....     13,200        --
                                                           ---------- ----------
                                                               16,333      2,473
                                                           ---------- ----------
                                                           $1,042,952 $1,373,667
                                                           ========== ==========
<CAPTION>
             LIABILITIES AND PARTNERS' EQUITY
             --------------------------------
<S>                                                        <C>        <C>
Current liabilities:
  Current maturities of long-term debt.................... $  356,500 $  397,500
  Accounts payable--trade.................................     34,592     47,949
  Accrued expenses:
  Utilities...............................................     59,668        --
  Miscellaneous...........................................     50,074     81,268
                                                           ---------- ----------
      Total current liabilities...........................    500,834    526,717
                                                           ---------- ----------
Long-term debt, net of current maturities.................    488,000    163,000
                                                           ---------- ----------
Commitments and contingencies (Note 4)
Partners' equity..........................................     54,118    683,950
                                                           ---------- ----------
                                                           $1,042,952 $1,373,667
                                                           ========== ==========
</TABLE>

 
 
                       See notes to financial statements
 
                                      F-45