consolidated balance sheets    in thousands except share data December 31, 1997 1996 current assets Cash and cash equivalents $    42,094 36,966 Short-term investments 214 357 Accounts receivable, less allowance for doubtful accounts of $6,449 in 1997 and $5,047 in 1996 206,501 168,763 Deferred Federal and state income taxes 4,296 4,854 Other 6,399 4,503 Total current assets 259,504 215,443 property and equipment Buildings and leasehold improvements 37,003 21,486 Furniture, fixtures, and equipment 47,031 34,928 Vehicles 4,516 4,346 88,550 60,760 Less accumulated depreciation and amortization 36,475 28,368 52,075 32,392 Land 14,475 13,854 Net property and equipment 66,550 46,246 Other assets, net 16,122 10,297 $ 342,176 271,986 current liabilities Short-term borrowings $     2,145 3,452 Accounts payable 143,980 101,670 Accrued expenses, primarily salaries and related costs 18,946 21,194 Federal, state, and foreign income taxes 7,181 5,659 Total current liabilities 172,252 131,975 shareholders' equity Preferred stock, par value $.01 per share Authorized 2,000,000 shares; none issued – – Common stock, par value $.01 per share Authorized 80,000,000 shares; issued and outstanding 24,546,380 shares at December 31, 1997 and 24,212,946 shares at December 31, 1996 245 242 Additional paid-in capital 15,534 13,179 Retained earnings 159,225 123,258 Equity adjustments from foreign currency translation (5,080 ) 3,332 Total shareholders' equity 169,924 140,011 Commitments and contingencies $ 342,176 271,986 see accompanying notes to consolidated financial statements