NEW YORK (AP):

Michael Jackson claimed to have a net worth of US$236 million as of March 31, 2007, according to financial documents obtained by The Associated Press that shed light on the late pop star's murky finances and prodigious borrowing.

Jackson had US$567.6 million in assets, including his Neverland Ranch, his share of the Sony/ATV Music Publishing catalogue that includes the rights to songs by the Beatles, and an assortment of cars, antiques and collectibles, according to a statement of financial condition prepared by Washington, DC-based accounting firm Thompson, Cobb, Bazilio and Associates.

Large sums of debt

The report was prepared at a time when Jackson had large sums of debt coming due that had to be refinanced. The financial statement was based in large part on estimates provided by Jackson's advisers that the accounting firm said it could not verify.

The documents obtained by the AP don't show how much money he had coming in that year or how much he was spending, which makes it hard to estimate just how cash-poor he was. Still, the statement paints a pictures of Jackson's tangled finances and the mountain of debt he left behind.

The five-page report says Jackson had debts of US$331 million, leaving him with a net worth of US$236.6 million. Highlighting his shaky financial health, the singer known for his lavish shopping sprees had just US$668,215 in cash, according to the report, which is dated June 12, 2007.