Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 20,245 $ 29,272
Accounts receivable, net of allowance for doubtful accounts of $842 and $881, respectively 154,596 122,502
Inventory, net 4,766 2,022
Vendor prepayments and advances 890 661
Prepaid expenses and other current assets 4,141 4,871
Total current assets 184,638 159,328
Equipment and leasehold improvements, net 3,515 1,932
Goodwill 18,963 17,188
Other intangibles, net 19,693 9,950
Right-of-use assets, net 1,235 1,628
Accounts receivable-long-term, net 3,114 78
Other assets 350 459
Deferred income tax assets 348 189
Total assets 231,856 190,752
Current liabilities:    
Accounts payable and accrued expenses 160,650 134,271
Lease liability, current portion 521 475
Term loan, current portion 520  
Total current liabilities 161,691 134,746
Lease liability, net of current portion 1,296 1,810
Deferred income tax liabilities 4,137 1,780
Term loan, net of current portion 1,292  
Non-current liabilities 2,866  
Total liabilities 171,282 138,336
Commitments and contingencies
Stockholders' equity:    
Common stock, $.01 par value per share; 10,000,000 shares authorized; 5,284,500 shares issued: 4,478,432 and 4,424,672 shares outstanding, respectively 53 53
Additional paid-in capital 32,715 32,087
Treasury stock, at cost, 806,068 and 859,828 shares, respectively (13,230) (13,870)
Retained earnings 43,904 34,396
Accumulated other comprehensive loss (2,868) (250)
Total stockholders' equity 60,574 52,416
Total liabilities and stockholders' equity $ 231,856 $ 190,752