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CONSOLIDATED STATEMENTS OF CASH FLOWS
<br /> ADJUSTERS INTERNATIONAL, INC. AND SUBSIDIARIES
<br /> I
<br /> 0 Year ended
<br /> December 31,
<br /> 2016 2015
<br /> (DECREASE) INCREASE IN CASH AND
<br /> CASH EQUIVALENTS
<br /> Cash flows from (used in) operating activities:
<br /> Cash received from customers ‘$ 17 7940 $ 23,720,456
<br /> b, baa
<br /> Cash paid to participants, vendors and employees (17;085;732) (21,549,851)
<br /> 1 Rent received c 50,094 51,040
<br /> Interest received 10,667 14,592
<br /> Interest paid ° 6,-- (42,901) (46,138)
<br /> Income taxes refunded, net � O 672,222 448,435
<br /> NET CASH PROVIDED BY OPERATING ACTTIES 1,397,090 2,638,534
<br /> Cash flows from (used in) investing activities: 0
<br /> Purchase of property and equipment (61,440) (68,763)
<br /> Purchase of software/website development (29,584) (51,306)
<br /> Amount received from joint ventured 500,000 -0-
<br /> Payments related to acquisition o�f��T��id,al asin (4,544,401) -0-
<br /> NET CASH USED ll' yIV,1ESTING ACTIVITIES (4,135,425) (120,069)
<br /> Cash flows from (used in) financing activities:
<br /> Proceeds from line of credit 500,000 -0-
<br /> Repayments of long-terrYdebt (139,158) (149,388)
<br /> Dividends paid -0 (22,900)
<br /> Redemption of P3eferred stock -0- (302,250)
<br /> NET CASH PROVIDED BY (USED IN)
<br /> FINANCING ACTIVITIES 360,842 (474,538)
<br /> NET(DECREASE) INCREASE IN CASH
<br /> AND CASH EQUIVALENTS (2,377,493) 2,043,927
<br /> Cash and cash equivalents at beginning of year 6,277,529 4,233,602
<br /> CASH AND CASH EQUIVALENTS AT END OF YEAR $ 3,900,036 $ 6,277,529
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