sales include revenues from product sales , royalty income , barrier rental income and shipping and installation income . product sales are further divided into wall panel sales , which include soundwall , architectural and slenderwall panels , highway barrier , beach prisms , easi-set® and easi-span® buildings , utility and farm products and miscellaneous precast products . the following table summarizes the sales by product type and a comparison for the years ended december 31 , 2014 and 2013 : 11 replace_table_token_1_th wall panel sales – wall panel sales are generally medium to large contracts issued by general contractors for production and delivery of a specific wall panel product for a specific construction project . changes in the mix of wall panel sales depend on what contracts are in production during the period . soundwall sales increased by 21 % in 2014 over 2013 due primarily to a large soundwall contract for a road project started in mid 2013 and ending in late 2014. in addition , there were three more soundwall projects in production during 2014 as compared to 2013. the company is currently producing another large soundwall contract that should complete in early 2016. architectural sales declined by 56 % in 2014 over 2013 due to the lack of competitively priced projects available in the company 's geographical sales area during 2014. the company has seen a slight increase in architectural projects bidding and at slightly less competitive prices over the past several months . the company has been awarded two new architectural projects that are now in production . management expects architectural revenue to increase in 2015 when compared to 2014. slenderwall sales decreased significantly in 2014 when compared to 2013. the company had only one large slenderwall project in production during 2014 , however , the company has been awarded four additional projects with total contract prices in excess of $ 5.0 million , all of which will be in production by the end of the second quarter of 2015. the company has also bid on several slenderwall projects recently and expects to be awarded one or more of these contracts . miscellaneous wall sales are mainly retaining walls which are used to hold back earth on sloped land . these types of projects decreased by 37 % in 2014 when compared to 2013 , due mainly to the lack of projects being bid by general contractors in the company 's geographical sales area . management expects that these types of job will increase slightly in 2015. barrier sales – barrier sales are dependent on the number of highway projects active during the period and whether customers are more prone to buy barrier than to rent . in 2014 barrier sales decreased by $ 949,759 from the previous year . the decrease relates primarily to the continued weakness in major highway project funding during 2014. while the company has seen an increase in highway projects being bid , it is difficult to tell how long this trend will last relating to highway safety barrier sales so as a result , management 's expectations for highway safety barrier revenue in 2015 is to remain consistent with that of 2014. beach prisms – the company made its first sale of beach prisms in 2009 and continued to make minor sales in the following years , including 2014. the company is still in the process of seeking to acquire the necessary permits from the states of maryland and virginia , which has been more difficult than originally estimated . the company did receive a permit in the state of virginia during 2011 and anticipates that further permits will occur and additional sales will be forthcoming , however , this can not be assured . the company sold $ 59,000 in beach prisms in the state of new jersey in 2013 to a local governmental entity to assist with the recovery from hurricane sandy . several projects are in the permit phase , and if granted , will result in 12 sales . future sales of beach prisms can not be accurately predicted because of continued difficulty in obtaining the needed state permits . easi-set® and easi-span® building sales – the easi-set® buildings program now includes easi-set® , plant assembled and easi-span® , site assembled , and an extensive line of pre-engineered restrooms . building sales increased by 6 % in 2014 compared to 2013 . the increase in sales was primarily due to the sale of several large restroom buildings as well as several large easi-span® buildings . the company continues to expand and improve its proprietary line of restroom buildings for parks , athletic fields and other outdoor venues and is continuing to market these products with a highly visible advertising campaign . bidding activity for buildings and restrooms continued to increase during 2014 and management believes that 2015 will see a sizable increase in easi-set® buildings and restrooms . utility and farm sales – utility and farm products are mainly underground utility vaults used in infrastructure construction and consequently , when construction is weak so are utility vault sales . utility and farm product sales decreased by 3 % in 2014 compared to 2013 . the company continues to see more bidding opportunities for utility products and as a result was awarded a large manhole contract to be produced in 2015 , and continues to believe this activity will lead to increased sales in 2015. the recently funded highway soundwall projects discussed above also require utility vaults for underground placement of utilities and the company is bidding on the included vault projects . miscellaneous product sales – miscellaneous products are products that are produced and sold that do not meet the criteria defined for other revenue categories , examples would include underground steam tunnels , highway slabs or bridge slabs . story_separator_special_tag income tax expense – the company had an income tax benefit of $ 498,000 for the year ended december 31 , 2014 compared to an income tax expense of $ 391,000 for the year ended december 31 , 2013 , due to the pretax loss in 2014. the company had an effective rate of 38 % for the year ended december 31 , 2014 compared to an effective rate of 36 % for the same period in 2013. the changes in the tax expense for the periods correlated to the change in pre-tax income . net income – the company had a net loss of $ 804,838 for the year ended december 31 , 2014 , compared to net income of $ 691,502 for the same period in 2013 . the basic and diluted loss per share for 2014 was $ 0.16 , compared to basic and diluted net earnings per share of $ 0.14 for the year ended december 31 , 2013 . there were 4,881,548 basic and diluted weighted average shares outstanding in 2014 and 4,839,205 basic and 4,880,453 diluted weighted average shares outstanding in the 2013 . story_separator_special_tag 2013 was $ 1,939,478 , a decrease of $ 212,934 . the annual inventory turns for 2014 and 2013 were 10.8 and 7.9 , respectively . significant accounting policies and estimates the company 's significant accounting policies are more fully described in its summary of accounting policies to the company 's consolidated financial statements . the preparation of financial statements in conformity with accounting principles generally accepted within the united states of america requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying financial statements and related notes . in preparing these consolidated financial statements , management has made its best estimates and judgments of certain amounts included in the consolidated financial statements , giving due consideration to materiality . the company does not believe there is a great likelihood that materially different amounts would be reported related to the accounting policies described below , however , application of these accounting policies involves the exercise of judgment and the use of assumptions as to future uncertainties and as a result , actual results could differ from these estimates . the company evaluates the adequacy of its allowance for doubtful accounts at the end of each quarter . in performing this evaluation , the company analyzes the payment history of its significant past due accounts , subsequent cash collections on these accounts and comparative accounts receivable aging statistics . based on this information , along with other related factors , the company develops what it considers to be a reasonable estimate of the uncollectible amounts included in accounts receivable . this estimate involves significant judgment by the management of the company . actual uncollectible amounts may differ from the company 's estimate . the company recognizes revenue on the sale of its standard precast concrete products at shipment date , including revenue derived from any projects to be completed under short-term contracts . installation services for precast concrete products , leasing and royalties are recognized as revenue as they are earned on an accrual basis . licensing fees are recognized under the accrual method unless collectability is in doubt , in which event revenue is recognized as cash is received . certain sales of soundwall , slenderwall , and other architectural concrete products are recognized upon completion of units produced under long-term contracts . when necessary , provisions for estimated losses on these contracts are made in the period in which such losses are determined . changes in job performance , conditions and contract settlements that affect profit are recognized in the period in which the changes occur . unbilled trade accounts receivable represents revenue earned on units produced and not yet billed . 15 seasonality the company services the construction industry primarily in areas of the united states where construction activity may be inhibited by adverse weather during the winter . as a result , the company may experience reduced revenues from december through february and realize the substantial part of its revenues during the other months of the year . the company may experience lower profits , or losses , during the winter months , and as such , must have sufficient working capital to fund its operations at a reduced level until the spring construction season . the failure to generate or obtain sufficient working capital during the winter may have a material adverse effect on the company . inflation management believes that the company 's operations were not significantly affected by inflation in 2014 and 2013 , particularly in the purchases of certain raw materials such as steel and fuel . the company believes that raw material pricing will see some modest increases in 2015 as the economy continues its recovery , although no assurance can be given regarding future pricing . other comments as of march 4 , 2015 the company 's sales backlog of inventoried products and unbilled construction contracts was approximately $ 12.9 million as compared to approximately $ 10.6 million at approximately the same time in 2014 . the increase in the backlog relates to the company 's continued emphasis on its proprietary product , slenderwall . a substantial majority of the projects relating to the sales backlog as of march 4 , 2015 are scheduled to be shipped during 2015 . the company also maintains a regularly occurring repeat customer business , which should be considered in addition to the orders in the sales backlog described above . these orders typically have a quick turn around and represent purchases of the company 's inventoried standard products , such as highway safety barrier , utility and easi-set building products . historically , this regularly occurring segment of our customer base is equal to approximately $ 5,000,000 to $ 7,000,000 annually . the risk exists that recessionary economic conditions may adversely affect the company more than

liquidity and capital resources the company financed its capital expenditures and operating requirements in 2014 with cash flows from operations , cash balances on hand and notes payable to the bank . the company has a note payable to summit community bank ( the “ bank ” ) , with a balance of $ 1,814,825 as of december 31 , 2014 . the note has a term of approximately eight years and a fixed interest rate of 3.99 % annually with monthly payments of $ 25,642 and is secured by principally all of the assets of the company . under the terms of the note , the bank will permit chattel mortgages on purchased equipment not to exceed $ 250,000 for any one individual loan so long as the company is not in default . also , the company is limited to $ 1,000,000 for annual capital expenditures . at december 31 , 2014 , the company was in compliance with all covenants pursuant to the loan agreement as amended except for the payment of cash dividends on december 31 , 2014 , for which the company received approval prior to payment . in addition to the note payable discussed above , the company also has a $ 2,000,000 line of credit with the bank , of which none was outstanding at december 31 , 2014 . the line of credit is evidenced by a commercial revolving promissory note which carries a variable interest rate of prime and matures on september 12 , 2015. the loan is collateralized by a first lien position on the company 's accounts receivable and inventory and a second lien position on all other business assets .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources the company financed its capital expenditures and operating requirements in 2014 with cash flows from operations , cash balances on hand and notes payable to the bank . the company has a note payable to summit community bank ( the “ bank ” ) , with a balance of $ 1,814,825 as of december 31 , 2014 . the note has a term of approximately eight years and a fixed interest rate of 3.99 % annually with monthly payments of $ 25,642 and is secured by principally all of the assets of the company . under the terms of the note , the bank will permit chattel mortgages on purchased equipment not to exceed $ 250,000 for any one individual loan so long as the company is not in default . also , the company is limited to $ 1,000,000 for annual capital expenditures . at december 31 , 2014 , the company was in compliance with all covenants pursuant to the loan agreement as amended except for the payment of cash dividends on december 31 , 2014 , for which the company received approval prior to payment . in addition to the note payable discussed above , the company also has a $ 2,000,000 line of credit with the bank , of which none was outstanding at december 31 , 2014 . the line of credit is evidenced by a commercial revolving promissory note which carries a variable interest rate of prime and matures on september 12 , 2015. the loan is collateralized by a first lien position on the company 's accounts receivable and inventory and a second lien position on all other business assets .
```    
 Suspicious Activity Report : sales include revenues from product sales , royalty income , barrier rental income and shipping and installation income . product sales are further divided into wall panel sales , which include soundwall , architectural and slenderwall panels , highway barrier , beach prisms , easi-set® and easi-span® buildings , utility and farm products and miscellaneous precast products . the following table summarizes the sales by product type and a comparison for the years ended december 31 , 2014 and 2013 : 11 replace_table_token_1_th wall panel sales – wall panel sales are generally medium to large contracts issued by general contractors for production and delivery of a specific wall panel product for a specific construction project . changes in the mix of wall panel sales depend on what contracts are in production during the period . soundwall sales increased by 21 % in 2014 over 2013 due primarily to a large soundwall contract for a road project started in mid 2013 and ending in late 2014. in addition , there were three more soundwall projects in production during 2014 as compared to 2013. the company is currently producing another large soundwall contract that should complete in early 2016. architectural sales declined by 56 % in 2014 over 2013 due to the lack of competitively priced projects available in the company 's geographical sales area during 2014. the company has seen a slight increase in architectural projects bidding and at slightly less competitive prices over the past several months . the company has been awarded two new architectural projects that are now in production . management expects architectural revenue to increase in 2015 when compared to 2014. slenderwall sales decreased significantly in 2014 when compared to 2013. the company had only one large slenderwall project in production during 2014 , however , the company has been awarded four additional projects with total contract prices in excess of $ 5.0 million , all of which will be in production by the end of the second quarter of 2015. the company has also bid on several slenderwall projects recently and expects to be awarded one or more of these contracts . miscellaneous wall sales are mainly retaining walls which are used to hold back earth on sloped land . these types of projects decreased by 37 % in 2014 when compared to 2013 , due mainly to the lack of projects being bid by general contractors in the company 's geographical sales area . management expects that these types of job will increase slightly in 2015. barrier sales – barrier sales are dependent on the number of highway projects active during the period and whether customers are more prone to buy barrier than to rent . in 2014 barrier sales decreased by $ 949,759 from the previous year . the decrease relates primarily to the continued weakness in major highway project funding during 2014. while the company has seen an increase in highway projects being bid , it is difficult to tell how long this trend will last relating to highway safety barrier sales so as a result , management 's expectations for highway safety barrier revenue in 2015 is to remain consistent with that of 2014. beach prisms – the company made its first sale of beach prisms in 2009 and continued to make minor sales in the following years , including 2014. the company is still in the process of seeking to acquire the necessary permits from the states of maryland and virginia , which has been more difficult than originally estimated . the company did receive a permit in the state of virginia during 2011 and anticipates that further permits will occur and additional sales will be forthcoming , however , this can not be assured . the company sold $ 59,000 in beach prisms in the state of new jersey in 2013 to a local governmental entity to assist with the recovery from hurricane sandy . several projects are in the permit phase , and if granted , will result in 12 sales . future sales of beach prisms can not be accurately predicted because of continued difficulty in obtaining the needed state permits . easi-set® and easi-span® building sales – the easi-set® buildings program now includes easi-set® , plant assembled and easi-span® , site assembled , and an extensive line of pre-engineered restrooms . building sales increased by 6 % in 2014 compared to 2013 . the increase in sales was primarily due to the sale of several large restroom buildings as well as several large easi-span® buildings . the company continues to expand and improve its proprietary line of restroom buildings for parks , athletic fields and other outdoor venues and is continuing to market these products with a highly visible advertising campaign . bidding activity for buildings and restrooms continued to increase during 2014 and management believes that 2015 will see a sizable increase in easi-set® buildings and restrooms . utility and farm sales – utility and farm products are mainly underground utility vaults used in infrastructure construction and consequently , when construction is weak so are utility vault sales . utility and farm product sales decreased by 3 % in 2014 compared to 2013 . the company continues to see more bidding opportunities for utility products and as a result was awarded a large manhole contract to be produced in 2015 , and continues to believe this activity will lead to increased sales in 2015. the recently funded highway soundwall projects discussed above also require utility vaults for underground placement of utilities and the company is bidding on the included vault projects . miscellaneous product sales – miscellaneous products are products that are produced and sold that do not meet the criteria defined for other revenue categories , examples would include underground steam tunnels , highway slabs or bridge slabs . story_separator_special_tag income tax expense – the company had an income tax benefit of $ 498,000 for the year ended december 31 , 2014 compared to an income tax expense of $ 391,000 for the year ended december 31 , 2013 , due to the pretax loss in 2014. the company had an effective rate of 38 % for the year ended december 31 , 2014 compared to an effective rate of 36 % for the same period in 2013. the changes in the tax expense for the periods correlated to the change in pre-tax income . net income – the company had a net loss of $ 804,838 for the year ended december 31 , 2014 , compared to net income of $ 691,502 for the same period in 2013 . the basic and diluted loss per share for 2014 was $ 0.16 , compared to basic and diluted net earnings per share of $ 0.14 for the year ended december 31 , 2013 . there were 4,881,548 basic and diluted weighted average shares outstanding in 2014 and 4,839,205 basic and 4,880,453 diluted weighted average shares outstanding in the 2013 . story_separator_special_tag 2013 was $ 1,939,478 , a decrease of $ 212,934 . the annual inventory turns for 2014 and 2013 were 10.8 and 7.9 , respectively . significant accounting policies and estimates the company 's significant accounting policies are more fully described in its summary of accounting policies to the company 's consolidated financial statements . the preparation of financial statements in conformity with accounting principles generally accepted within the united states of america requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying financial statements and related notes . in preparing these consolidated financial statements , management has made its best estimates and judgments of certain amounts included in the consolidated financial statements , giving due consideration to materiality . the company does not believe there is a great likelihood that materially different amounts would be reported related to the accounting policies described below , however , application of these accounting policies involves the exercise of judgment and the use of assumptions as to future uncertainties and as a result , actual results could differ from these estimates . the company evaluates the adequacy of its allowance for doubtful accounts at the end of each quarter . in performing this evaluation , the company analyzes the payment history of its significant past due accounts , subsequent cash collections on these accounts and comparative accounts receivable aging statistics . based on this information , along with other related factors , the company develops what it considers to be a reasonable estimate of the uncollectible amounts included in accounts receivable . this estimate involves significant judgment by the management of the company . actual uncollectible amounts may differ from the company 's estimate . the company recognizes revenue on the sale of its standard precast concrete products at shipment date , including revenue derived from any projects to be completed under short-term contracts . installation services for precast concrete products , leasing and royalties are recognized as revenue as they are earned on an accrual basis . licensing fees are recognized under the accrual method unless collectability is in doubt , in which event revenue is recognized as cash is received . certain sales of soundwall , slenderwall , and other architectural concrete products are recognized upon completion of units produced under long-term contracts . when necessary , provisions for estimated losses on these contracts are made in the period in which such losses are determined . changes in job performance , conditions and contract settlements that affect profit are recognized in the period in which the changes occur . unbilled trade accounts receivable represents revenue earned on units produced and not yet billed . 15 seasonality the company services the construction industry primarily in areas of the united states where construction activity may be inhibited by adverse weather during the winter . as a result , the company may experience reduced revenues from december through february and realize the substantial part of its revenues during the other months of the year . the company may experience lower profits , or losses , during the winter months , and as such , must have sufficient working capital to fund its operations at a reduced level until the spring construction season . the failure to generate or obtain sufficient working capital during the winter may have a material adverse effect on the company . inflation management believes that the company 's operations were not significantly affected by inflation in 2014 and 2013 , particularly in the purchases of certain raw materials such as steel and fuel . the company believes that raw material pricing will see some modest increases in 2015 as the economy continues its recovery , although no assurance can be given regarding future pricing . other comments as of march 4 , 2015 the company 's sales backlog of inventoried products and unbilled construction contracts was approximately $ 12.9 million as compared to approximately $ 10.6 million at approximately the same time in 2014 . the increase in the backlog relates to the company 's continued emphasis on its proprietary product , slenderwall . a substantial majority of the projects relating to the sales backlog as of march 4 , 2015 are scheduled to be shipped during 2015 . the company also maintains a regularly occurring repeat customer business , which should be considered in addition to the orders in the sales backlog described above . these orders typically have a quick turn around and represent purchases of the company 's inventoried standard products , such as highway safety barrier , utility and easi-set building products . historically , this regularly occurring segment of our customer base is equal to approximately $ 5,000,000 to $ 7,000,000 annually . the risk exists that recessionary economic conditions may adversely affect the company more than

