Section 140.06. Net worth reporting.

Latest version.

(1) Treasury stock. Treasury stock held by a corporation shall be reported separately on the balance sheet and clearly labeled as treasury stock.

(2) Previous profit. Profit from the previous period of operations shall be reported separately in the net worth section of the balance sheet.

(3) Negative net worth. A financial statement with a negative net worth is evidence of lack of financial ability to conduct business and the license shall be denied or revoked.

History: Cr. Register, March, 1985, No. 351 , eff. 4-1-85.

                    
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