White Pine Library Cooperative   
                      BALANCE SHEET            
                       May 31, 2004            




Account Name                       Balance YTD 
-------------------------        --------------
ASSETS                                         
Petty Cash                               500.00
Checking Account                     228,335.37
Cert. of Deposit                          -0.00
Payroll                                  100.00
Escrow                                     0.00
Accounts Receivable                   39,658.17
Inventory                                 -0.00
Prepaid Expenses                           0.00
Grants Receivable                         -0.00
Credit Receivable                          0.00
                                  ==============
TOTAL ASSETS                         268,593.54



LIABILITIES                                    
Accounts Payable                           0.00
Accrued Accounts Payable                  -0.00
Sales Tax Payable                          0.00
Accrued Payroll                            0.00
Accrued Benefits                           0.00
Lease payable                            342.58
Copier lease payable                   1,223.44
Deferred Renenue                           0.00
                                 ==============
TOTAL LIABILITIES                      1,566.02



CAPITAL                                        

Fund Balance                         284,851.77
Income minus Expenditures            -17,824.25
                                 ==============
TOTAL CAPITAL PLUS                             
LIABILITIES                          268,593.54