Franklin Covey 2000 Annual Report Consolidated Balance Sheets Consolidated Balance Sheets 35 AUGUST 31, 2000 1999 In thousands, except share data Assets Current assets: Cash and cash equivalents $ 21,242 $ 26,781 Accounts receivable, less allowance for doubtful accounts of $3,350 and $4,074, respectively 84,747 92,500 Inventories 53,599 59,780 Income taxes receivable 3,912 Deferred income taxes 12,916 16,357 Other assets 20,531 12,316 Total current assets 193,035 211,646 Property and equipment, net 121,556 127,863 Goodwill and other intangibles, net 258,475 267,185 Other assets 19,413 16,609 $592,479 $623,303 Liabilities and Shareholders’ Equity Current liabilities: Lines of credit $ 17,884 $ 1,396 Accounts payable 28,251 33,038 Accrued compensation 13,598 10,414 Accrued acquisition earnouts 700 15,900 Accrued restructuring costs 5,160 16,200 Other accrued liabilities 42,046 35,992 Income taxes payable 4,645 Current portion of long-term debt 6,873 90,010 Current portion of capital lease obligations 540 558 Total current liabilities 119,697 203,508 Line of credit 55,000 Long-term debt, less current portion 7,125 5,624 Capital lease obligations, less current portion 380 919 Deferred compensation liability 3,285 Deferred income taxes 32,939 34,818 Total liabilities 218,426 244,869 Commitments and contingencies (Notes 6, 8, 10 and 20) Shareholders’ equity: Preferred stock – Series A, no par value; convertible into  common stock at $14 per share; 4,000,000 shares authorized, 811 ,088 shares  and 750,000 shares issued, respectively, at $100 per share 80,967 75,000 Common stock, $.05 par value; 40,000,000 shares authorized, 27,055,894 shares issued 1,353 1,353 Additional paid-in capital 225,748 235,632 Retained earnings 186,711 199,125 Note receivable (894) Restricted stock deferred compensation (58) (320) Accumulated other comprehensive loss (122) (782) Treasury stock at cost, 6,439,329 and 6,676,373 shares, r espectiv ely (119,652) (131,574) Total shareholders’ equity 374,053 378,434 $592,479 $623,303 See accompanying notes to consolidated financial statements.