Date: Thu, 18 Dec 1997 06:32:33 GMT Server: Stronghold/2.0.1 Apache/1.2.0 Connection: close Content-Type: text/html BIG ROCK BREWERY: Financial Statements

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Financial Statements

Big Rock Brewery Ltd. (Incorporated under the Canada Business Corporations Act)

CONSOLIDATED BALANCE SHEET
As at March 31

1997
$

1996
$

(Denominated in Canadian Dollars)

ASSETS

Current

Cash

226,185

218,251

Accounts receivable

1,278,196

1,494,641

Income taxes receivable

600,951

92,597

Inventories [note 3]

1,900,215

1,716,580

Prepaid expenses and other

270,708

236,334



4,276,255

3,758,403

Capital assets
[notes 4 and 6]

28,445,909

21,221,613

Deferred charges and other

144,493

62,825



32,866,657

25,042,841





LIABILITIES

Current

Current Bank indebtedness [note 5]

375,646

--

Accounts payable and accrued liabilities

1,122,017

578,914

Construction costs payable

--

1,281,187

Current portion of long-term debt [note 6]

252,000

260,402



1,749,663

2,120,503

Long-term debt [note 6]

11,430,692

9,442,811

Deferred income taxes [note 8]

2,243,900

1,935,900



15,424,255

13,499,214



Commitments [note 9]

SHAREHOLDERS' EQUITY

Share capital [note 7]

10,827,912

5,444,286

Retained earnings

6,614,490

6,099,341



17,442,402

11,543,627



32,866,657

25,042,841





See accompanying notes

On behalf of the Board:

E. McNally, Director J. Angus McKee, Director 10


|This Annual Report |
|Financial Highlights | Report to Shareholders | Management Discussion and Analysis | Auditors' Report |
|
Financial Statements and Notes | A Marketing Glance | Corporate Information |


Big Rock Brewery
5555 76th Ave S.E., Calgary, Alberta, Canada, Phone: 403-720-3239, Fax: 403-236-7523
ale@bigrockbeer.com

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