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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Persons Services Corp <br />Statement of Cash Flows <br />For Year Ending December 31, 2023 <br /> <br />CASH FLOWS FROM OPERATING ACTIVITIES <br /> Net Income 4,433,398 <br /> Adjustments to reconcile net income (loss) to net cash provided <br /> by operating activities ; <br /> Depreciation and Amortization 1,393,742 <br /> (Gain) loss on disposition (1,811) <br /> (Gain) loss on sale of investments (36,729) <br /> Dividend Income 15,142 <br /> Unrealized (gain) loss on marketable investments 118,891 <br /> <br /> Change in assets and liabilities <br /> (Increase) decrease in: <br /> Receivables (11,902,961) <br /> Prepaid expenses (160,252) <br /> Other receivable 8 <br /> Deferred contract cost 2,083,445 <br /> Cost and estimated earnings in excess of billings 3,483,005 <br /> <br /> Increase (decrease) in: <br /> Accounts Payable 7,735,588 <br /> Accrued expenses 319,342 <br /> Payroll tax liabilities 112,189 <br /> Billings in excess of costs and estimated earnings 7,213,901 <br />NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 10,373,500 <br /> <br />CASH FLOW FROM INVESTING ACTIVITIES <br /> Purchase of equipment and leasehold improvements (2,370,885) <br /> Proceeds from disposal of equipment/vehicles 0 <br /> Investment in securities (185,458) <br /> <br />NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (2,556,343) <br /> <br /> <br /> <br /> <br /> <br /> Notes and Accompanying Independent Accountants Review Report <br /> 7