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<br />SBLM ARCHITECTS, P.C. <br />(AN S CORPORATION) <br /> <br />STATEMENT OF CASH FLOWS <br /> <br />FOR THE YEAR ENDED DECEMBER 31, 2008 <br /> <br />CASH FLOWS FROM OPERATING ACTIVITIES: <br />Net income <br />Adjustments to reconcile net income to net <br />cash from operating activities: <br />Depreciation <br />Deferred taxes <br />Loss on investment in partnership <br />Changes in operating assets and liabilities: <br />Accounts receivable <br />Security deposits <br />Prepaid expenses <br />Accounts payable and accrued expenses <br />Employee loan 5 <br />Deferred revenue <br /> <br />Net cash flows from operating activities <br /> <br />CASH FLOWS FROM INVESTING ACTIVITIES: <br />Cash payments for the purchase of equipment <br /> <br />Net cash flows from investing activities <br /> <br />CASH FLOWS FROM FINANCING ACTIVITIES: <br />Repayment to bank <br />Loan from bank <br />Principal payments on long-term debt <br />Net borrowing from capital lease <br />Note receivable - related party <br />Distribution <br /> <br />Net cash flows from financing activities <br /> <br />Net decrease in cash <br /> <br />Cash - January 1 J 2008 <br /> <br />Cash - December 31, 2008 <br /> <br />Supplemental cash flow information: <br />Income taxes paid <br />Interest paid <br /> <br />See accountants' review report and notes to financial statements. <br /> <br />$ 527,302 <br /> 236,786 <br /> 64,329 <br /> 12,555 <br /> 1,020,527 <br /> (793) <br /> (11,759) <br />(1,659,427) <br /> (5,537) <br /> 2,000 <br /> 185,983 <br /> (94,754) <br /> (94,754) <br /> (89,165) <br /> 299.983 <br /> (18,096) <br /> (91,524) <br /> 43,728 <br /> (185,701) <br /> (40.775) <br /> 50,454 <br /> 616 <br />$ 51.0IO <br />$ 121.992 <br />$ 16,316 <br />