Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONSOLIDATED BALANCE SHEETS

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UNAUDITED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 30, 2013
Dec. 29, 2012
Current assets:    
Cash and cash equivalents $ 3,925 $ 3,174
Accounts receivable, net of allowance of $12 and $8, respectively 6,826 6,256
Inventories, net of reserves of $504 and $682, respectively 14,395 17,274
Income taxes receivable 518 522
Other current assets 1,001 1,332
Total current assets 26,665 28,558
Property and equipment, net 11,946 12,248
Restricted cash 500 0
Other assets 1,069 973
Deferred income taxes 24 25
Total assets 40,204 [1] 41,804 [1]
Current liabilities:    
Accounts payable 5,449 4,957
Accrued expenses 5,179 4,310
Line of credit 7,769 10,559
Current maturities of long-term obligations 1,037 955
Deferred income tax liability 146 146
Total current liabilities 19,580 20,927
Long-term debt obligations, net of current maturities 6,150 6,357
Deferred gain, net of current portion 244 365
Deferred income tax liabilities 921 921
Total liabilities 26,895 [1] 28,570 [1]
Commitments and contingencies      
Shareholders' equity:    
Common Stock, no par value; 10,000 shares authorized; issued and outstanding: 5,556 shares and 5,527 shares, respectively 20,581 20,577
Accumulated deficit (8,465) (8,649)
Accumulated other comprehensive loss (348) (290)
Total shareholders' equity 11,768 11,638
Noncontrolling interest 1,541 1,596
Total equity 13,309 13,234
Total liabilities and shareholders' equity $ 40,204 $ 41,804
[1] Assets of ARCA Advanced Processing, LLC (AAP), our consolidated variable interest entity (VIE), that can only be used to settle obligations of AAP were $9,762 and $10,045 as of March 30, 2013 and December 29, 2012, respectively. Liabilities of AAP for which creditors do not have recourse to the general credit of Appliance Recycling Centers of America, Inc. were $1,922 and $1,948 as of March 30, 2013 and December 29, 2012, respectively.See Notes to Consolidated Financial Statements.