December 31, 2003  2004 Assets Current Assets Cash  $ 12,847,000  $ 18,970,000 Accounts receivable Trade customers  27,010,000  38,682,000 Related parties  3,938,000  5,526,000 30,948,000  44,208,000 Allowance for doubtful accounts  (375,000)  (432,000) 30,573,000  43,776,000 Inventories  16,164,000  22,238,000 Deferred income taxes, current  5,547,000  2,453,000 Prepaid expenses and other  2,256,000  4,243,000 Prepaid income taxes  446,000  406,000 Total current assets  67,833,000  92,086,000 Property, Plant and Equipment,  net  47,893,000  60,857,000 Deferred Income Taxes,  non-current  1,816,000  7,970,000 Other Assets Goodwill 5,090,000  5,090,000 Other  1,163,000  1,798,000 Total assets  $123,795,000  $167,801,000 Liabilities and Stockholders’ Equity Current Liabilities Line of credit $ 8,488,000  $ 6,167,000 Accounts payable Trade  14,029,000  17,274,000 Related parties  3,453,000  3,936,000 Accrued liabilities 8,715,000  11,459,000 Current portion of long-term debt Related party 2,500,000  2,500,000 Others  3,333,000  1,014,000 Current portion of capital lease obligations  161,000  165,000 Total current liabilities  40,679,000  42,515,000 Long-Term Debt,  net of current portion Related party 3,750,000  1,250,000 Others  3,000,000  6,583,000 Capital Lease Obligations,  net of current portion  2,334,000  2,172,000 Minority Interest in Joint Venture 2,582,000  3,133,000 Stockholders’ Equity Class A convertible preferred stock – par value $1.00 per share; 1,000,000 shares authorized; no shares issued and outstanding  –  – Common stock – par value $0.66 2⁄3 per share; 30,000,000 shares authorized; 14,627,284 and 15,763,266 shares issued at 2003 and 2004, respectively 6,502,000  7,260,000 Additional paid-in capital  11,192,000  24,765,000 Retained earnings  55,779,000  81,330,000 73,473,000  113,355,000 Less: Treasury stock – 1,613,508 shares of common stock, at cost  1,782,000  1,782,000 Accumulated other comprehensive loss (gain)  241,000  (575,000) 2,023,000  1,207,000 Total stockholders’ equity  71,450,000  112,148,000 Total liabilities and stockholders’ equity  $123,795,000  $167,801,000 The accompanying notes are an integral part of these financial statements. 28 consolidated balance sheets Diodes Incorporated and Subsidiaries