Correcting Year and Residential Inventories Figure in Washington Homes, Inc. Balance Sheet, BW1047.Business Editors CORRECTION CORRECTION,punishment. Chastisement by one having authority of a person who has committed some offence, for the purpose of bringing him to legal subjection. 2. It is chiefly exercised in a parental manner, by parents, or those who are placed in loco parentis. ...by Business Wire & Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. Homes, Inc. --(BUSINESS WIRE)--May 23, 2000 In BW1047 (MD-WASHINGTON-HOMES) Reports Record Third Quarter Earnings, in the Condensed con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. Consolidated Balance Sheet consolidated balance sheet A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they were a single firm. , header (1) In a disk or tape file, a set of data that resides permanently at the beginning. It may be used for identification only (type of file, date of last update, etc.), or it may describe the structural layout of the contents, as is common with many document and database formats. should read July July: see month. 31, 1999 (sted 2000) and Residential Inventories figure for 1999 should read 130,502 (sted 30,502). The correct balance sheet follows:
WASHINGTON HOMES, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Amounts in thousands)
(Unaudited)
April 30, July 31,
2000 1999
Assets
Cash and cash equivalents $8,161 $12,734
Residential inventories 136,816 130,502
Excess of cost over net
assets acquired, net 8,431 8,731
Investment in joint ventures 3,567 3,876
Other 12,374 11,612
Total Assets $169,349 $167,455
Liabilities and Shareholders' Equity
Notes and loans payable $61,967 $59,526
Trade accounts payable 19,585 24,568
Income taxes 1,958 3,986
Other 8,383 10,426
Total liabilities 91,893 98,506
Stock 78 79
Paid-in capital 34,569 35,178
Retained earnings 42,809 33,692
Total shareholders equity 77,456 68,949
Total Liabilities and
Shareholders Equity $169,349 $167,455
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