KINARK CORPORATION AND SUBSIDIARY
UNAUDITED PRO FORMA BALANCE SHEET
DECEMBER 31, 1999
Pro Forma
Kinark Pro Forma As
(Dollars in Thousands) 12/31/99 Adjustments Adjusted
-------- ----------- ---------
ASSETS
------
Cash & cash equivalents $ 253 $ (85) $ 168
Trade receivables, net 6,229 (912) 5,317
Inventories 4,799 (28) 4,771
Other current assets 629 (95) 534
Deferred tax asset, net 693 (162) 531
Net assets of discontinued
operations --- 1,254 1,254
------ ------ ------
Current Assets 12,603 (28) 12,575
Property, plant and
equipment, net 18,160 (1,488) 16,672
Goodwill 3,765 --- 3,765
Other assets 181 (76) 105
------ ------ ------
Total Assets $ 34,709 $ (1,592) $ 33,117
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LIABILITIES & STOCKHOLDERS' EQUITY
----------------------------------
Current portion of long-
term obligations $ 1,131 $ (12) $ 1,119
Trade accounts payable 1,404 (214) 1,190
Accrued liabilities 2,868 (1,209) 1,659
------ ------ ------
Current Liabilities 5,403 (1,435) 3,968
Deferred tax liability, net 458 --- 458
Pension & related liabilities 309 (156) 153
Long-term obligations 9,986 (1) 9,985
------ ------ ------
Total Liabilities 16,156 (1,592) 14,564
Common stock 819 --- 819
Additional paid-in capital 17,364 --- 17,364
Retained earnings 6,350 --- 6,350
Treasury stock (5,980) --- (5,980)
------ ------ ------
Total Stockholders' Equity 18,553 --- 18,553
Total Liabilities and
Stockholders' Equity $ 34,709 $ (1,592) $ 33,117
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