Bridgford's Investor
 

2010 Annual Report Page 23

BRIDGFORD FOODS CORPORATION
CONSOLIDATED BALANCE SHEETS
October 28, 2011 and October 29, 2010
(in thousands, except per share amounts)
 
   
2011
   
2010
 
ASSETS
           
Current assets:
           
Cash and cash equivalents
 
$
9,324
   
$
15,686
 
Accounts receivable, less allowance for doubtful accounts of $124 and $80, respectively and promotional allowances of $2,289 and $1,932, respectively
   
9,702
     
7,609
 
Inventories, less reserves of $318 and $166, respectively
   
16,888
     
16,307
 
Prepaid expenses
   
340
     
291
 
Refundable income taxes
   
1,036
     
1,594
 
Deferred income taxes, less valuation allowance of $2,432 and $2,478, respectively
      -
        -
 
Total current assets
   
37,290
     
41,487
 
                 
Property, plant and equipment, net of accumulated depreciation of $55,622 and $56,007, respectively
   
7,903
     
7,892
 
Other non-current assets
   
11,773
     
11,144
 
Deferred income taxes, less valuation allowance of $9,044 and $5,571, respectively
      -
        -
 
Total assets
 
$
56,966
   
$
60,523
 
                 
LIABILITIES AND SHAREHOLDERS’ EQUITY
               
Current liabilities:
               
Accounts payable
 
$
4,246
   
$
3,364
 
Accrued payroll, advertising and other expenses
   
5,590
     
5,532
 
Current portion of non-current liabilities
   
3,439
     
2,755
 
Total current liabilities
   
13,275
     
11,651
 
                 
Non-current liabilities
   
18,853

     
12,672
 
Total liabilities
   
32,128
     
24,323
 
                 
Contingencies and commitments (Notes 3, 5 and 6)
               
                 
Shareholders’ equity:
               
Preferred stock, without par value Authorized - 1,000 shares; issued and outstanding – none
      -         -  
Common stock, $1.00 par value Authorized - 20,000 shares; issued and outstanding – 9,198 and 9,328
   
9,255
     
9,385
 
        Capital in excess of par value
   
9,214
     
10,396
 
        Retained earnings
   
23,096
     
24,471
 
        Accumulated other comprehensive loss
   
(16,727
)
   
(8,052
)
Total shareholders’ equity
   
24,838
     
36,200
 
Total liabilities and shareholders’ equity
 
$
56,966

 
$
60,523
 

See accompanying notes to consolidated financial statements.
 
 
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