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
Sep. 28, 2013
Dec. 29, 2012
Current assets:    
Cash and cash equivalents $ 2,131 $ 3,174
Accounts receivable, net of allowance of $10 and $8, respectively 10,796 6,256
Inventories, net of reserves of $149 and $682, respectively 15,249 17,274
Income taxes receivable 263 522
Other current assets 1,473 1,332
Total current assets 29,912 28,558
Property and equipment, net 11,686 12,248
Restricted cash 500 0
Other assets 976 973
Deferred income taxes 24 25
Total assets 43,098 [1] 41,804 [1]
Current liabilities:    
Accounts payable 7,277 4,957
Accrued expenses 5,328 4,310
Line of credit 6,823 10,559
Current maturities of long-term obligations 1,217 955
Accrued Income Taxes, Current 229 0
Deferred income tax liabilities 146 146
Total current liabilities 21,020 20,927
Long-term debt obligations, net of current maturities 5,706 6,357
Deferred gain, net of current portion 0 365
Deferred income tax liabilities 921 921
Total liabilities 27,647 [1] 28,570 [1]
Commitments and contingencies      
Shareholders' equity:    
Common Stock, no par value; 10,000 shares authorized; issued and outstanding: 5,571 shares and 5,556 shares, respectively 20,773 20,577
Accumulated deficit (6,563) (8,649)
Accumulated other comprehensive loss (386) (290)
Total shareholders' equity 13,824 11,638
Noncontrolling interest 1,627 1,596
Total equity 15,451 13,234
Total liabilities and shareholders' equity $ 43,098 $ 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 $9,856 and $10,045 as of September 28, 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 $2,140 and $1,948 as of September 28, 2013, and December 29, 2012, respectively.See Notes to Consolidated Financial Statements.