Briefly discuss Fibertech's financial statements.

Fibertech GmbHBalance sheets at 31 December x3 and x4 (amounts in 000)

Dec31, x3 Dec 31, x4

Non-current assets

Brands 50 90

Land 200 200

Building and equipment, gross 540 580

less: Accumulated depreciation (487) (474)

Building and equipment, net 56 106

Total non-current assets 306 396

Current assets

Inventories 250 350

Accounts receivable 400 500

Prepaid insurance 4 6

Cash 340 239

Total current assets 994 1,095

Total assets 1,300 1,491

Shareholders' equity

Share capital 170 170

Retained profits 120 426

Total shareholders' equity 290 596

Non-current liabilities

Long-term bank loan 600 450

Current liabilities

Short-term portion of long-term bank loan 150 150

Accounts payable 200 250

Taxes payable 35 25

Interest payable 25 20

Total current liabilities 410 445

Total liabilities and shareholders' equity 1,300 1,491