Air T, Inc. (AIRT) Balance Sheet

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Cash and cash equivalents	2.19M
Short-term investments
Accounts receivable, less allowance for doubtful accounts of $41,000 and $40,000	21.93M
Notes and other receivables-current	2.21M
Income tax receivable	1.11M
Inventories	17.67M
Deferred income taxes	117.77K
Prepaid expenses and other
Total Current Assets	49.75M
Property and Equipment, net	4.9M
Deferred Income Taxes
Cash Surrender Value of Life Insurance Policies	2.11M
Notes and Other Receivables-LongTerm	0
Other Assets	385.56K
Total Assets	65.93M
Accounts payable	10.41M
Accrued expenses	7.83M
Income taxes payable	0
Current portion of long-term obligations
Total Current Liabilities	20.05M
Preferred stock, $1.00 par value, 50,000 shares authorized,	0
Common stock, $.25 par value; 4,000,000 shares authorized, 2,446,286 and 2,431,286 shares issued and outstanding	510.7K
Additional paid-in capital
Retained earnings	19.6M
Total Stockholders' Equity	24.49M
Total Liabilities and Stockholders’ Equity	65.93M

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