BALANCE SHEET Paper & Ink Corp, Smooth Solutions 1/01/2012 1/01/2012 2,033,174 200,000 2,400,000 Short Term Investments 5,500,000 5,250,000 Accounts Receivable 10,000,000 11,300,000 31,000,000 nvesment in Subsidiary 7,450,000 19,325,000 Equipment 4,200,000 1,900,000 Trailers 2,400,000 750,000 s 1,750,000 s 1,150,000 Other Assets 875,000 750,000 500,000 4,500,000 Long-Term Investments 1,200,000 1,350,000 other Long Term Assets 85,683,174 Total Assets 30,525,000 7,250,000 Accounts Payable Other Current Liabilities Notes Payable 4,000,000 5,000,000 Credit Line Long Term Debt S 5,400,000 24900,000 16,750,000 Total Liabilities Common Stock (Par $.10) 125,000 Is 49,371,574 s 11,500,000 S 11.050,000 2,150,000 Total Equity 60783.174 13,775,000 Total Liabilities and Equity I$ 85,683,174 30,525,000