| Balance | Additions | |||||||||||||||||||
| Balance at | Acquired | Charged to | ||||||||||||||||||
| Beginning of | From EJ | Costs and | Balance at | |||||||||||||||||
| DESCRIPTION | Period | Footwear | Expenses | Deductions | End of Period | |||||||||||||||
ALLOWANCE FOR DOUBTFUL ACCOUNTS |
||||||||||||||||||||
Year ended December 31, 2006 |
$ | 984,800 | $ | — | $ | 520,620 | $ | (667,420 | )(1) | $ | 838,000 | |||||||||
Year ended December 31, 2005 |
$ | 715,000 | $ | 603,592 | $ | 106,799 | $ | (440,591 | )(1) | $ | 984,800 | |||||||||
Year ended December 31, 2004 |
$ | 620,000 | $ | — | $ | 76,189 | $ | 18,811 | (1) | $ | 715,000 | |||||||||
VALUATION ALLOWANCE FOR DEFERRRED TAX ASSETS |
||||||||||||||||||||
Year ended December 31, 2006 |
$ | 314,332 | $ | — | $ | 88,626 | $ | — | $ | 402,958 | ||||||||||
Year ended December 31, 2005 |
$ | — | $ | 314,332 | (2) | $ | — | $ | — | $ | 314,332 | |||||||||
Year ended December 31, 2004 |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| (1) | Amount charged off, net of recoveries. | |
| (2) | To the extent the valuation allowance acquired from EJ Footwear Group is reduced, this reduction will be reflected as a reduction of goodwill. |