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• <br /> • I <br /> • FINANCIAL BACKGROUND 5 <br /> • <br /> O <br /> • Fahlgren, Inc. and Subsidiaries <br /> • dba Fahlgren Mortine <br /> Consolidated Statements of Cash Flows <br /> • <br /> • <br /> (Restated) <br /> December 31, 2016 2015 <br /> Cash Flows from Operating Activities <br /> • Net income(loss) $ 306,958 $ 80,117 <br /> Adjustments to reconcile net income to net cash <br /> ® <br /> provided by(used In)operating activities: <br /> ® Depreciation and amortization 624,764 724,059 <br /> Lou on disposal of property and equipment 26,638 1,446 <br /> • Bad debt(recovery)expense (22,707) 314,468 <br /> Provision for deferred income taxes (8,387) (264,124) <br /> ® Lease incentive accretion (21,873) (21,873) <br /> Adjustment to contingent acquisition payable 621,282 - <br /> • (Increase)decrease in: <br /> ® Receivables 5,367,056 (2,271,876) <br /> Expenditures billable to clients (630,394) (777,999) <br /> • Unbilled trade accounts receivable (198,300) 285,191 <br /> Prepaid expenses and other assets 13,282 99,198 <br /> • Increase(decrease)in: <br /> Accounts payable (3,083,840) 1,158,146 <br /> • Client prebillings (207,339) (590,716) <br /> Other accrued expenses and liabilities (135,580) 387,430 <br /> • <br /> Net Cash Provided by(Used in)Operating Activities 2,651,560 (876,533) <br /> • <br /> ® Cash Flows from Investing Activities <br /> Purchases of property and equipment (2,174) (93,531) <br /> • Proceeds from the disposal of property and equipment - 2,351 <br /> • Net Cash Used in Investing Activities (2,174) (91,180) <br /> • See accompanying notes to the consolidated financial statements. <br /> • <br /> • <br /> • <br /> 410 <br /> O <br /> • <br /> 0 <br /> • 7 <br /> 0 <br /> 0 <br /> 0 <br /> ® TURNER — 71 - RFP: 17-10-01 <br /> • <br /> • <br /> II <br />