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<br />..Ill <br /> <br />SHORELINE H)UNDATION. INC. <br /> <br />STATEMENT OF CASH FLOWS <br />Fon THE YEAR ENDED DECEivlBER 31. 2009 <br /> <br />CAS!I FLOWS FROM OPERATING ACTIVITIES: <br />Net incolTlc' <br />Adjllstl11CIll!; to reconcile nel income \0 nel cash provided by <br />operating activities: <br />Depreciation <br />Changes in operating assets ane! liabilities: <br />AccoulIls receivable - trade <br />Accounts receivable - other <br />COSl~ and estimated earnings in excess of billings <br />on uncompleted COntracts <br />Accounts payable - trade <br />Billings in excess of costs and estimated <br />earnings on uncompleted contracts <br />Accrued expenses <br /> <br />Net cash provided by operating activities <br /> <br />$1.833.197 <br /> <br />748,706 <br /> <br />(360,716) <br />( 140,()09) <br /> <br />(J 54.573) <br />(534,028) <br /> <br />399.802 <br />70,686 <br /> <br />1.863, I 65 <br /> <br />CASH FLOWS USED IN INVESTING ;\CITVITLES: <br />Acquisitions of property and equipmclIl <br /> <br />(386.896) <br /> <br />CASH FLOWS FROM FINANCING ACTIVITIES: <br />Repaymems of long-tenn debt <br />Stockholders distribution <br /> <br />Net cash used in financing activities <br /> <br />(67,968) <br />(579,408) <br />(647,376) <br /> <br />NET INCREASE IN CASH <br />CASH AT BEGINNING OF YEAR, Ul\l\.UDITED <br />CASH AT END OF YEAR <br /> <br />828,893 <br /> <br />1,376.824 <br /> <br />~_o~ <br /> <br />SUPI'LEMEN'TAL DISCLOSURE OF CASH FLOW INFORMATION: <br /> <br />Cash paid during the year for: <br />I meres, <br /> <br />Income taxes <br /> <br />s <br />s <br /> <br />1,74!\ <br /> <br />o <br /> <br />See Accompanying Notes and lndepenclent Auditors' Rcport <br /> <br />- 4 - <br />