White Pine Library Cooperative Balance Sheet May 31, 2007 Account Name Balance YTD ------------------------- -------------- ASSETS Petty Cash 500.00 Checking Account 102,475.42 Independent Bank CD 103,560.22 Citizens Bank CD #1 100,000.00 Citizens Bank CD #2 0.00 Citizens Bank Cd #3 0.00 Payroll 100.00 Escrow 0.00 Accounts Receivable 14,466.61 Inventory -0.00 Prepaid Expenses 0.00 Grants Receivable -0.00 Credit Receivable 0.00 ============== TOTAL ASSETS 321,102.25 LIABILITIES Accounts Payable 0.00 Retirement Payable 0.00 Accrued Accounts Payable -0.00 Sales Tax Payable 0.00 Accrued Payroll 0.00 Accrued Benefits 0.00 Lease payable 580.83 Copier lease payable 1,598.15 Deferred Renenue 0.00 TOTAL LIABILITIES 2,178.98 CAPITAL Fund Balance 254,077.59 Income minus Expenditures 64,845.68 ============== TOTAL CAPITAL PLUS LIABILITIES 321,102.25