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S-1/A
CHARTER COMMUNICATIONS, INC. /MO/ filed this Form S-1/A on 09/28/1999
Entire Document
 
<PAGE>   595
 
            AVALON CABLE OF MICHIGAN HOLDINGS, INC. AND SUBSIDIARIES
 
           CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
 

<TABLE>
<CAPTION>
                                              FOR THE SIX MONTHS ENDED JUNE 30, 1999
                                -------------------------------------------------------------------
                                  COMMON                 ADDITIONAL                       TOTAL
                                  SHARES       COMMON     PAID-IN      ACCUMULATED    SHAREHOLDERS'
                                OUTSTANDING    STOCK      CAPITAL        DEFICIT         EQUITY
                                -----------    ------    ----------    -----------    -------------
                                                            (UNAUDITED)
                                                          (IN THOUSANDS)
<S>                             <C>            <C>       <C>           <C>            <C>
Balance, December 31, 1998....      100        $  --      $35,000       $ (8,918)        $26,082
Net loss for the six months
  ended June 30, 1999.........       --           --           --         (9,773)         (9,773)
                                    ---        ------     -------       --------         -------
Balance, June 30, 1999........      100        $  --      $35,000       $(18,691)        $16,309
                                    ===        ======     =======       ========         =======
</TABLE>

 
   The accompanying notes are an integral part of these financial statements.
                                      F-350