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• <br /> SHORELINE FOUNDATION, INC. <br /> STATEMENT OF CASH FLOWS <br /> FOR THE YEAR ENDED DECEMBER 31,2009 <br /> C.ASH FLOWS FROM OPERATING ACTIVITIES: <br /> Net income S1,833,297 <br /> Adjustments to reconcile net income to net cash provided by <br /> operating activities: <br /> Depreciation 748,706 <br /> Changes in operating assets and liabilities: <br /> Accounts receivable-trade (360,716) <br /> Accounts receivable-other (140.009) <br /> Costs and estimated earnings in excess of billings <br /> on uncompleted contracts (154,573). <br /> Accounts payable-trade (534,028) <br /> Billings in excess of costs and estimated <br /> earnings on uncompleted contracts 399,802 <br /> Accrued expenses 70,686 <br /> Net cash provided by operating activities 1.863,165 <br /> CASH FLOWS USED LN INVESTING AC 11 VITIES: <br /> Acquisitions of property and equipment . (386.896) <br /> CASH FLOWS FROM FINANCING ACTIVITIES: <br /> Repayments of long-term debt (67,968) <br /> Stockholders distribution (579,408) <br /> Net cash used in financing activities (647376) <br /> • <br /> NET L\CREASE IN CASH 828.893 <br /> CASH AT BEGINNING OF YEAR,UNAUDITED 1.376.824 <br /> CASH AT END OF YEAR 82,205,717 <br /> SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: <br /> Cash paid during the year for <br /> Interest S 1,748 <br /> Income taxes S .0 <br /> • <br /> See Accompanying Notes and Independent .Auditors' Report <br />