| Balance Sheet for Adams Golf Inc. (ADGF) | | | | | | | Assets | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Cash and Equivalents | 11,265 | 9,472 | 10,747 | 16,367 | 10,135 | | Marketable Securities | - | - | - | - | - | | Receivables | 18,009 | 13,553 | 14,171 | 9,317 | 10,433 | | Inventories | 28,745 | 24,651 | 16,151 | 11,558 | 8,058 | | Other Current Assets | 1,432 | 1,371 | 27 | 138 | 6 | | Total Current Assets | 60,194 | 49,733 | 41,850 | 37,614 | 29,090 | | | Gross Fixed Assets | 12,544 | 12,217 | 11,845 | 11,503 | 11,156 | | Accumulated Depreciation | (11,498) | (11,498) | (11,215) | (10,783) | (10,241) | | Net Fixed Assets | 1,046 | 719 | 630 | 720 | 915 | | Intangibles | - | - | - | - | - | | Other Non-Current Assets | 1,069 | 1,099 | 1,622 | 44 | 49 | | Total Non-Current Assets | 10,992 | 5,870 | 2,252 | 764 | 964 | | Total Assets | 71,186 | 55,603 | 44,102 | 38,378 | 30,054 | | | Liabilities | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Accounts Payable | 9,205 | 6,271 | 4,691 | 3,876 | 1,192 | | Short Term Debt | - | - | - | - | - | | Other Current Liabilities | - | - | - | - | - | | Total Current Liabilities | 17,887 | 13,734 | 11,975 | 11,460 | 7,217 | | | Long Term Debt | - | - | - | - | - | | Deferred Income Tax | - | - | - | - | - | | Other Non-Current Liabilities | - | - | - | 480 | 609 | | Minority Interest | - | - | - | - | - | | Total Non-Current Liabilities | - | - | - | 480 | 609 | | Total Liabilities | 17,887 | 13,734 | 11,975 | 11,940 | 7,826 | | | Preferred Stock Equity | - | - | - | - | - | | Common Stock Equity | 53,299 | 41,869 | 32,127 | 26,438 | 22,228 | | Total Equity | 53,299 | 41,869 | 32,127 | 26,438 | 22,228 | | Total Liabilities & Stock Equity | 71,186 | 55,603 | 44,102 | 38,378 | 30,054 | | | |
