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Question(s) / Instruction(s):

Analysts following the Tomkovick Golf Company were given the following information for the year ended June 30, 2008:

Assets                                                                   2008                                       2007

Cash and marketable securities                 $33,411                                 $16,566

Accounts receivable                                       268,806                                 318,768

Inventory                                                            415,218                                 352,740

Other current assets                                      41,251                                   29,912

Total current assets                                        $758,686                              $717,986

Plant and equipment                                     2,041,827                             1,609,898

Less: Accumulated depreciation                                (529,152)                             (206,678)

Net plant and equipment                             $1,512,675                           $1,403,220

Goodwill and other assets                           382,145                                 412,565

Total assets                                                        $2,653,506                           $2,533,771

Liabilities and Stockholders' Equity           2008                                       2007

Accounts payable and accruals                   $378,236                              $332,004

Notes payable                                                   14,487                                   7,862

Accrued income taxes                                   21,125                                   16,815

Total current liabilities                                    $413,848                              $356,681

Long-term debt                                                                623,276                                 793,515

Total liabilities                                                    $1,037,124                           $1,150,196

Preferred stock                                                                -                                                              -

Common stock (10,000 shares)                  10,000                                   10,000

Additional paid-in capital                              975,465                                 975,465

Retained earnings                                           644,251                                 398,110

Less: Treasury stock                                        (13,334)                                -

Total common equity                                     $1,616,382                           $1,383,575

Total liabilities and stockholders' equity $2,653,506                           $2,533,771 

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