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S-1/A
JONES LANG LASALLE INC filed this Form S-1/A on 07/11/1997
Entire Document
 
<PAGE>
 
                      THE GALBREATH COMPANY AND AFFILIATES
 
                            COMBINED BALANCE SHEETS
 

<TABLE>
<CAPTION>
                                                               DECEMBER    MARCH 31,
ASSETS                                                         31, 1996      1997
- ------                                                        ----------- -----------
                                                                          (UNAUDITED)
<S>                                                           <C>         <C>
CURRENT ASSETS:
  Cash and cash equivalents.................................. $ 5,805,443 $ 2,688,885
  Accounts receivable:
    Trade, less allowance for doubtful accounts of $840,000
     at 1996 and 1997........................................   6,709,273   7,532,315
    Reimbursable expenses....................................   1,601,197   1,132,911
  Notes receivable...........................................     275,377     227,721
  Advances to brokers, customers and other...................     962,249     791,501
  Investments:
    Securities...............................................   2,932,106   2,974,656
    Real estate partnerships.................................      55,992     129,483
  Prepaids and other.........................................     635,407     601,384
                                                              ----------- -----------
      Total current assets...................................  18,977,044  16,078,856
FIXED ASSETS--Net............................................   2,120,459   2,182,838
DEPOSITS AND OTHER ASSETS....................................     632,953   1,002,953
LONG-TERM NOTES RECEIVABLE-Less current portion..............     379,677     290,932
                                                              ----------- -----------
TOTAL........................................................ $22,110,133 $19,555,579
                                                              =========== ===========
<CAPTION>
LIABILITIES AND OWNERS' EQUITY
- ------------------------------
<S>                                                           <C>         <C>
CURRENT LIABILITIES:
  Accounts payable--trade....................................  $1,832,743  $1,671,260
  Accrued expenses:
    Compensation.............................................   2,848,899     457,536
    Health and workers' compensation benefits................     529,241   1,135,626
    Commissions..............................................   4,824,574   3,723,815
    Other....................................................   1,785,745   1,888,150
  Demand and other notes payable.............................     930,000     930,000
  Current portion of long-term debt..........................      86,400      82,000
  Current portion of capital lease obligations...............     517,100     517,100
                                                              ----------- -----------
      Total current liabilities..............................  13,354,702  10,405,487
LONG-TERM DEBT-Less current position.........................     278,684     257,084
CAPITAL LEASE OBLIGATIONS--Less current portion..............     302,939     197,169
OWNERS' EQUITY...............................................   8,173,808   8,695,839
                                                              ----------- -----------
TOTAL........................................................ $22,110,133 $19,555,579
                                                              =========== ===========
</TABLE>

 
See notes to combined financial statements.
 
                                      F-21


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