| Balance Sheet for Schmitt Industries Inc. (SMIT) | | | | | | | Assets | in Thousands of Dollars | | | 05/2008 | 05/2007 | 05/2006 | 05/2005 | 05/2004 | | | Cash and Equivalents | 3,020 | 1,513 | 1,552 | 1,177 | 604 | | Marketable Securities | 2,500 | 3,965 | 1,986 | - | - | | Receivables | 1,591 | 1,454 | 1,983 | 2,109 | 1,851 | | Inventories | 3,910 | 3,690 | 3,242 | 3,533 | 2,915 | | Other Current Assets | - | - | - | - | - | | Total Current Assets | 11,281 | 10,839 | 8,956 | 7,016 | 5,495 | | | Gross Fixed Assets | 2,861 | 2,560 | 2,852 | 2,731 | 2,724 | | Accumulated Depreciation | (1,409) | (1,334) | (1,643) | (1,463) | (1,396) | | Net Fixed Assets | 1,452 | 1,226 | 1,209 | 1,269 | 1,328 | | Intangibles | - | - | - | - | - | | Other Non-Current Assets | 2,800 | 374 | 208 | 791 | 278 | | Total Non-Current Assets | 4,447 | 1,632 | 1,970 | 2,059 | 1,606 | | Total Assets | 15,727 | 12,471 | 10,927 | 9,075 | 7,100 | | | Liabilities | in Thousands of Dollars | | | 05/2008 | 05/2007 | 05/2006 | 05/2005 | 05/2004 | | | Accounts Payable | 528 | 336 | 403 | 497 | 566 | | Short Term Debt | - | - | 15 | 32 | 40 | | Other Current Liabilities | 304 | 142 | 60 | 26 | 53 | | Total Current Liabilities | 1,400 | 1,106 | 1,106 | 1,076 | 959 | | | Long Term Debt | 571 | - | 6 | 21 | 27 | | Deferred Income Tax | - | - | - | - | - | | Other Non-Current Liabilities | - | - | - | - | - | | Minority Interest | - | - | - | - | - | | Total Non-Current Liabilities | 571 | - | 6 | 21 | 27 | | Total Liabilities | 1,971 | 1,106 | 1,112 | 1,096 | 987 | | | Preferred Stock Equity | - | - | - | - | - | | Common Stock Equity | 13,756 | 11,365 | 9,814 | 7,979 | 6,114 | | Total Equity | 13,756 | 11,365 | 9,814 | 7,979 | 6,114 | | Total Liabilities & Stock Equity | 15,727 | 12,471 | 10,927 | 9,075 | 7,100 | | | |
