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Metric Engineering, Inc. and Subsidiary Consolidated Statement of Cash Flows NOT FOR PUBLIC I;'\lSPECTlO;'\l / DO NOT COpy This financial statement is private and exempt from public For the Year Ended June 30, 2008 inspection. or copying of public records pursuant to Florida Statutes 119.071 (I) (c). Cash Flows from Operating Activities: Cash received from contract revenues Cash paid to suppliers and employees Income taxes paid Interest paid Interest earned Net Cash Provided by Operating Activities $ 37,291,591 (36,300,199) (144,490) (89,205) 37,296 794,993 Cash Flows from Investing Activities: Investment in Certificate of Deposit Proceeds on disposal of equipment Net Cash (Used in) Investing Activities (1,084) 14,243 13,159 Cash Flows from Financing Activities: Payments oflong term debt Net borrowings Net Cash (Used in) Financing Activities (283,270) (340,000) (623,270) Net (Decrease) in Cash and Cash Equivalents 184,882 Cash and Cash Equivalents at July 1, 2007 Cash and Cash Equivalents at June 30, 2008 $ 853,129 1,038,011 Reconciliation of Net Income to Net Cash Provided by Operating Activities Net Income Adjustment to Reconcile Net Income to Net Cash to Net Cash Provided by Operating Activities: Depreciation and amortization Provision for losses on accounts receivable (Increase) in accounts receivable Decrease in cost and earnings in excess of billings on uncompleted contracts Decrease in prepaid expenses and other receivables (Increase) in other assets Increase in accounts payable accrued expenses Increase in income taxes payable (Decrease) in deferred taxes payable Total Adjustments Net Cash Provided by Operating Activities $ 153,787 405,483 100,000 (1,431,505) 619,981 181,936 (105,150) 960,922 2,539 (93,000) 641,206 794,993 $ Read the independent accountants' compilation report and the notes to the financial statements. 4