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SEC Filings

S-1
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1 on 07/28/1999
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<PAGE>   492
 
                     CABLE MICHIGAN, INC. AND SUBSIDIARIES
 
                          CONSOLIDATED BALANCE SHEETS
 

<TABLE>
<CAPTION>
                                                              DECEMBER 31,    NOVEMBER 5,
                                                                  1997           1998
                                                              ------------    -----------
                                                                (DOLLARS IN THOUSANDS)
<S>                                                           <C>             <C>
                           ASSETS
Cash and temporary cash investments.........................    $ 17,219       $  6,093
Accounts receivable, net of reserve for doubtful accounts of
  $541 at December 31, 1997 and $873 at November 5, 1998....       3,644          4,232
Prepayments and other.......................................         663            821
Accounts receivable from related parties....................         166            396
Deferred income taxes.......................................       1,006            541
                                                                --------       --------
Total current assets........................................      22,698         12,083
Property, plant and equipment, net..........................      73,836         77,565
Intangible assets, net......................................      45,260         32,130
Deferred charges and other assets...........................         803          9,442
                                                                --------       --------
Total assets................................................    $142,597       $131,220
                                                                ========       ========
           LIABILITIES AND SHAREHOLDERS' DEFICIT
Current portion of long-term debt...........................    $     --       $ 15,000
Accounts payable............................................       5,564          8,370
Advance billings and customer deposits......................       2,242          1,486
Accrued taxes...............................................         167          1,035
Accrued cable programming expense...........................       2,720          5,098
Accrued expenses............................................       4,378          2,052
Accounts payable to related parties.........................       1,560            343
                                                                --------       --------
Total current liabilities...................................      16,631         33,384
Long-term debt..............................................     143,000        120,000
Deferred income taxes.......................................      22,197         27,011
                                                                --------       --------
Total liabilities...........................................     181,828        180,395
                                                                --------       --------
Minority interest...........................................      14,643         14,690
                                                                --------       --------
Commitments and contingencies (Note 11).....................          --             --
Preferred Stock.............................................          --             --
Common stock................................................          --             --
Common shareholders' deficit................................     (53,874)       (63,865)
                                                                --------       --------
Total Liabilities and Shareholders' Deficit.................    $142,597       $131,220
                                                                ========       ========
</TABLE>

 
  The accompanying notes are an integral part of these consolidated financial
                                  statements.
                                      F-348