Vision Operations (USA) Summary1 Trial Balance Report Date: 16-AUG-2003 10:52 Period: Jul-02 Page: 1 of 3 Currency: USD Balance Type: Period to Date Company Range: 01 to 01 Company: 01 Operations Acct Description Beginning Balance Debits Credits Ending Balance --------------- ------------------------------- -------------------- -------------------- -------------------- -------------------- 1110 Cash 680,556,814.04 50,097,485.35 15,557,402.60 715,096,896.79 1130 Short Term Investments 7,010,144.30 0.00 0.00 7,010,144.30 1210 Accounts Receivable 94,890,824.48 26,763,035.64 42,887,671.89 78,766,188.23 1212 Notes Receivable 11,000.00 0.00 0.00 11,000.00 1220 Other Receivables 217,500.00 0.00 0.00 217,500.00 1230 Deferred Receivables <1,000.00> 0.00 0.00 <1,000.00> 1240 Unapplied Cash <242,265.52> 42,672,395.12 42,672,395.12 <242,265.52> 1245 Receivable Factoring/Remittance 2,836,446.28 0.00 0.00 2,836,446.28 1247 Proceeds of Sale Clearing 177,710.00 0.00 0.00 177,710.00 1260 Allowance for Bad Debt <1,434,541.99> 0.00 0.00 <1,434,541.99> 1310 Interest Receivable 2,314,532.58 0.00 0.00 2,314,532.58 1332 Withholding Tax <11,484.06> 0.00 0.00 <11,484.06> 1340 Prepaid Expenses 108,000.00 0.00 0.00 108,000.00 1410 Inventory Material Value <518,865,620.15> 11,292,823.26 12,610,681.21 <520,183,478.10> 1420 Inventory Material Overhead Val <11,485,828.41> 55,441.27 107,181.88 <11,537,569.02> 1430 Inventory Overhead Value 326,510.95 99,707.53 160,737.05 265,481.43 1440 Inventory Resource Value 832,340.13 136,241.78 320,011.28 648,570.63 1450 Inventory Outside Processing Va <18,822,796.55> 31,510.00 44,760.00 <18,836,046.55> 1460 Intransit Inventory Value 2,056,169.32 0.00 0.00 2,056,169.32 1510 Land 13,000,000.00 0.00 0.00 13,000,000.00 1520 Building and Improvements 79,981,780.11 0.00 0.00 79,981,780.11 1530 Machinery & Equipment 2,982,450.00 0.00 0.00 2,982,450.00 1540 Furniture 4,907,820.00 257,000.00 0.00 5,164,820.00 1550 Vehicles 19,587,114.00 401,900.00 0.00 19,989,014.00 1560 Computers & Software 491,995.00 0.00 0.00 491,995.00 1570 Asset Clearing <64,789,758.47> 0.00 658,900.00 <65,448,658.47> 1580 CIP Cost 282,812.00 0.00 0.00 282,812.00 1590 CIP Clearing <200,635.30> 0.00 0.00 <200,635.30> 1620 Accum. Depr. Blding & Improvem <11,109,439.94> 0.00 219,727.69 <11,329,167.63> 1630 Accum. Depr. Machinery & Equip <692,734.17> 0.00 15,687.09 <708,421.26> 1640 Accum. Depr. Furniture <1,278,882.46> 0.00 49,123.39 <1,328,005.85> 1650 Accum. Depr. Vehicles <11,305,727.10> 0.00 165,968.04 <11,471,695.14> 1660 Accum. Depr. Computers & Softw <142,720.00> 0.00 0.00 <142,720.00> 1720 Long Term Receivables 42,000.00 0.00 0.00 42,000.00 1810 Intercompany Receivable 49,967,460.07 0.00 0.00 49,967,460.07 1813 I/C Receivables - Distribution 327,830.00 0.00 0.00 327,830.00 1814 I/C Receivables - Services 1,605,080.00 0.00 0.00 1,605,080.00 1820 Investment in Subsidiaries 625,000.00 0.00 0.00 625,000.00 1960 Loan Principal <125,535.06> 0.00 0.00 <125,535.06> 2110 Payable to Bank - Current <85,993,103.57> 0.00 0.00 <85,993,103.57> 2210 Accounts Payable <1,093,649,516.84> 7,778,812.99 7,151,235.50 <1,093,021,939.35> 2215 Accrued Receipts <855,656.67> 0.00 0.00 <855,656.67> 2220 Accounts Payable Clearing 1,018,098,841.20 3,930,274.55 11,051,798.36 1,010,977,317.39 2225 Accrued Expenses <3,096.41> 0.00 0.00 <3,096.41> 2240 Cost of Removal Clearing <25.00> 0.00 0.00 <25.00> 2370 Intercompany Payables <204,838.42> 0.00 0.00 <204,838.42> 2373 I/C Payables - Distribution <18,030.00> 0.00 0.00 <18,030.00> 2374 I/C Payables - Services <13,200.00> 0.00 0.00 <13,200.00> 2410 Accrued Payroll <34,578.83> 0.00 0.00 <34,578.83> 2420 Payroll Clearing <18,914,817.90> 0.00 0.00 <18,914,817.90> Vision Operations (USA) Summary1 Trial Balance Report Date: 16-AUG-2003 10:52 Period: Jul-02 Page: 2 of 3 Currency: USD Balance Type: Period to Date Company Range: 01 to 01 Company: 01 Operations Acct Description Beginning Balance Debits Credits Ending Balance --------------- ------------------------------- -------------------- -------------------- -------------------- -------------------- 2510 Federal Pay Income Tax Withheld <6,012.68> 0.00 0.00 <6,012.68> 2512 FICA Withheld-Employee <1,951.73> 0.00 0.00 <1,951.73> 2520 State Sales and Use Tax Payable <142,129,505.32> 12,648.35 1,418,406.96 <143,535,263.93> 2530 Interest Payable <24,757,940.92> 0.00 0.00 <24,757,940.92> 2555 Customer Deposits <3,880,000.00> 0.00 0.00 <3,880,000.00> 2600 Payable to Bank Long Term Debt <43,770.00> 0.00 0.00 <43,770.00> 2700 Other Long Term Liabilities <58,121,700.00> 0.00 0.00 <58,121,700.00> 2800 Deferred Taxes <181,000.00> 0.00 0.00 <181,000.00> 2925 Revenue Clearing <567,687.50> 0.00 0.00 <567,687.50> 2980 Intercompany Suspense <19,689,151.91> 0.00 0.00 <19,689,151.91> 2990 Suspense <20,551,070.40> 0.00 0.00 <20,551,070.40> 3100 Common Stock <8,020,000.00> 0.00 0.00 <8,020,000.00> 3200 Paid in Capital <280,000.00> 0.00 0.00 <280,000.00> 3310 Retained Earnings 488,155,950.63 0.00 0.00 488,155,950.63 4110 Hardware <96,784,918.13> 198,971.69 20,829,219.39 <117,415,165.83> 4120 Support <2,016,204.80> 210,000.00 702,290.00 <2,508,494.80> 4130 Consulting <7,701,761.83> 427,600.00 2,252,430.00 <9,526,591.83> 4140 Training <1,861,943.29> 459,000.00 838,410.39 <2,241,353.68> 4150 Miscellaneous Revenue <2,465,827.86> 366,000.00 1,796,761.83 <3,896,589.69> 4163 I/C Revenue - Distribution <20,950.00> 0.00 0.00 <20,950.00> 4164 I/C Revenue - Services <49,300.00> 0.00 0.00 <49,300.00> 4900 Unearned Revenue from Commitmen <10,134,368.31> 0.00 0.00 <10,134,368.31> 5110 Cost of Sales 54,041,341.17 12,175,035.67 0.00 66,216,376.84 5210 Purchase Price Variance 6,335,484.62 1,306,652.92 0.00 7,642,137.54 5250 Physical Inventory Adjustment <3,277.71> 0.00 0.00 <3,277.71> 5290 Inter-Inventory Transfer Credit <1,804,868.87> 0.00 0.00 <1,804,868.87> 5310 Material Efficiency Variance <1,356,828.75> 0.14 241,007.92 <1,597,836.53> 5312 WIP Resource Variance <137,107.74> 0.00 24,139.39 <161,247.13> 5315 Average Cost Variance 1,539,736.15 61,358.72 0.00 1,601,094.87 5330 Overhead Efficiency Variance <114,652.94> 0.00 15,965.94 <130,618.88> 5360 Overhead Absorbtion Variance <397,735.49> 0.00 3,801.66 <401,537.15> 5370 Outside Processing Variance <259,330.00> 0.00 31,510.00 <290,840.00> 5380 Resource Rate Variance <165,652.56> 0.00 0.00 <165,652.56> 5390 Standard Cost Adjustment <5,879,870.95> 0.00 0.00 <5,879,870.95> 5800 Salaries 161,833.68 33,000.00 0.00 194,833.68 5810 Resource Absorption <467,292.81> 0.00 112,102.31 <579,395.12> 6100 Miscellaneous Employee Expenses 58,897.31 0.00 0.00 58,897.31 6115 Payroll Taxes - FICA employer 975.87 0.00 0.00 975.87 6120 Payroll Taxes - FUTA 654.05 0.00 0.00 654.05 6140 Health and Welfare 147.67 0.00 0.00 147.67 6155 Bonus' Paid 249.60 0.00 0.00 249.60 6160 Other Compensation 800.00 0.00 0.00 800.00 7110 Advertising 440,133.00 24,000.00 0.00 464,133.00 7120 Public Relations 223,050.00 107,123.00 0.00 330,173.00 7210 Shipping and Transportation 503,871.79 86,496.00 0.00 590,367.79 7220 Freight 303,839.73 108,632.60 64,506.00 347,966.33 7230 Warehousing 3,684,692.55 96,980.27 0.00 3,781,672.82 7320 Depreciation Building & Improve 1,327,716.13 219,577.69 0.00 1,547,293.82 7330 Depreciation Machinery & Equipm 94,122.54 15,687.09 0.00 109,809.63 7340 Depreciation Furniture 227,148.79 48,540.05 0.00 275,688.84 Vision Operations (USA) Summary1 Trial Balance Report Date: 16-AUG-2003 10:52 Period: Jul-02 Page: 3 of 3 Currency: USD Balance Type: Period to Date Company Range: 01 to 01 Company: 01 Operations Acct Description Beginning Balance Debits Credits Ending Balance --------------- ------------------------------- -------------------- -------------------- -------------------- -------------------- 7350 Depreciation Vehicles 960,597.37 165,968.04 0.00 1,126,565.41 7360 Depreciation Computers & Softwa 4,400.04 18,590.48 17,857.14 5,133.38 7405 Overhead Absorption <2,136,624.68> 0.00 434,945.95 <2,571,570.63> 7410 Utilities 2,921,138.19 510,830.38 0.00 3,431,968.57 7420 Rent Expense 3,740,591.28 654,204.66 0.00 4,394,795.94 7440 Cleaning and Maintenance 7,450,500.00 952,400.00 0.00 8,402,900.00 7450 Telephone Expenses 1,710,560.79 297,667.98 0.00 2,008,228.77 7510 Postage 705,439.95 124,859.26 0.00 830,299.21 7520 Photocopier Maintenance 1,560.00 0.00 0.00 1,560.00 7530 Equipment Expense 1,248,522.00 65,750.00 0.00 1,314,272.00 7620 Legal Services 927,900.00 144,000.00 0.00 1,071,900.00 7640 Airfare 113,493.20 15,000.00 0.00 128,493.20 7650 Car Rental 56,454.32 15,000.00 0.00 71,454.32 7670 Accommodation 21,159.44 0.00 0.00 21,159.44 7675 Mileage 268.78 0.00 0.00 268.78 7680 Taxis 845.00 0.00 0.00 845.00 7685 Per Diem 1,680.00 0.00 0.00 1,680.00 7690 Meals 5,954.91 0.00 0.00 5,954.91 7695 Entertainment 96,621.38 15,000.00 0.00 111,621.38 7699 Miscellaneous Travel Expenses 6,009.34 0.00 0.00 6,009.34 7730 Bad Debt 135,991.70 0.00 0.00 135,991.70 7740 Miscellaneous 5,463,782.43 0.00 111.54 5,463,670.89 7753 I/C Chargeback - Distribution 20,950.00 0.00 0.00 20,950.00 7754 I/C Chargeback - Services 49,300.00 0.00 0.00 49,300.00 7810 Interest Income 85,481.64 0.00 0.00 85,481.64 7820 Interest Expense 15,556,370.32 0.00 0.00 15,556,370.32 7825 Discounts Taken (Earned) <32,525.73> 5,986.69 111.69 <26,650.73> 7830 Currency Gains 0.00 0.00 2,329.96 <2,329.96> 7840 Currency Losses 15,424.59 0.00 0.00 15,424.59 7846 Unrealized Foreign Exchange Gai 129,199.16 0.00 0.00 129,199.16 7848 Unrealized Foreign Exchange Los <310,166.50> 0.00 0.00 <310,166.50> 8100 MassAllocation In 512,366.68 0.00 0.00 512,366.68 8200 MassAllocation Out <973,300.02> 0.00 0.00 <973,300.02> 8510 Offset Account 10 78,595,660.00 76,660,834.00 59,330,834.00 95,925,660.00 8520 Offset Account 20 <407,376,910.00> 14,000,278.00 31,330,278.00 <424,706,910.00> -------------------- -------------------- -------------------- -------------------- 0.00 253,120,301.17 253,120,301.17 0.00