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732 Gaines Street Davenport IA 52802


Gateway Redevelopment Group

2005 Balance Sheet

Accrual Basis as of December 31, 2005

       ASSETS

        Current Assets

           Checking/Savings

             1000 Checking                                                4,081.09

             1001 Savings                                                 1,046.94

           Total Checking/Savings                                           5,128.03

            Accounts Receivable

             1200 Accounts Receivable

                1201 730 Gains - Jipp                             27,366.33

             Total 1200 Accounts Receivable                              27,366.33

            Total Accounts Receivable                                       27,366.33

        Total Current Assets                                               32,494.36

         Fixed Assets

           1500 Jipp

             1501 Phase 1 - Stabilization

                1502 Building Materials                      6,366.80

                1503 Demolition                                300.00

                1504 Masonry                                 6,795.00

                1506 Roofing                                 1,278.50

             Total 1501 Phase 1 - Stabilization                   14,740.30

              1510 Phase 2 - Restoration

                1511 Building Materials                      1,682.91

                1513 Flooring                               10,772.00

                1514 Framing                                 1,608.00

                1515 Masonry                                 2,590.00

                1516 Real Estate Taxes                         864.00

                1517 Roofing                                36,883.00

             Total 1510 Phase 2 - Restoration                     54,399.91

            Total 1500 Jipp                                               69,140.21

         Total Fixed Assets                                                 69,140.21

      TOTAL ASSETS                                                         101,634.57

      LIABILITIES & EQUITY

        Equity

           1110 Retained Earnings                                        17,452.07

           Net Income                                                      84,182.50

        Total Equity                                                      101,634.57

      TOTAL LIABILITIES & EQUITY                                           101,634.57

  

Gateway Redevelopment Group, Davenport, Iowa