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COLONIAL AIRLINES, INC. BALANCE SHEET - AT DECEMBER 31, 1953 AND 1952 ASSETS |CURRENT ASSETS|1953|1952| |Cash|$547,358|$946,876| |U. S. Government securities - Treasury notes|---|298,933| |Accounts receivable (including $94,971 in 1953 and $182,900 in 1952 for mail carried, due from U. S. Departments)| 667,917|762,882| |Consumable supplies, gasoline, oil, etc., at or below cost (on first-in, first-out basis)|120,869|117,415| |Prepaid insurance and other expenses|82,416|68,242| |Total Current Assets|1,418,614|2,194,348| |INVESTMENTS AND SPCIAL FUNDS, at cost or estimated realizable value|---|---| |(Note 3)|72,561|39,185| |PROPERTY AND EQUIPMENT, at cost:|---|---| |Flying equipment (Note 5)|3,807,185|2,879,913| |Less: Reserve for obsolescence and depreciation|2,274,177|2,173,250| |---|1,533,008|705,663| |Radio ground stations, office, and other equipment|484,378|436,070| |Less: Reserve for obsolescence and depreciation|310,900|276,992| |---|173,478|159,078| |Leasehold improvements, less amortization|12,949|20,592| |Total property and equipment|1,719,435|885,333| |DEFERRED CHARGES:|---|---| |In connection with proceedings resulting from investigation by Civil Aeronautics Board (Note 2)|91,903|98,831| |In connection with Civil Aeronautics Board's investigation re pro-posed sale of assets (Note 1)|45,685|32,683| |Other|41,233|39,093| |---|178,821|170,607| |---|$3,389,431|$3,289,473| Reference is made to notes to financial statements.