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Note 5. Equity Method Investment in Joint Venture: Summarized Financial Information for Investment in JV (Tables)
 12 Months Ended
Dec. 31, 2013
Tables/Schedules  
Summarized Financial Information for Investment in JV

 

December 31,

 

2013

2012

 

Balance Sheet

 

 

 

 

 

 

Current assets

 

$

9,754,456

 

 

$

10,496,699

 

Noncurrent assets

 

 

12,127,501

 

 

 

11,023,997

 

Current Liabilities

 

 

5,839,368

 

 

6,668,718

 

Noncurrent liabilities

 

 

-

 

 

 

-

 

Equity

 

$

16,042,589

 

 

$

14,851,978

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31

 

 

2013

2012

 

Statement of operations

 

 

 

 

 

 

 

 

Revenues

 

$

65,314

 

 

$

26,359

 

Gross profit

 

 

(85,943)

 

 

 

9,045

 

Income before income tax

 

 

50,536

 

 

21,416

Net income

 

$

50,536

 

$

21,416