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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.