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1 <br /> CONSOLIDATED STATEMENTS OF CASH FLOWS--Continued <br /> ADJUSTERS INTERNATIONAL, INC. AND SUBSIDIARIES <br /> IlYear ended <br /> December 31, <br /> 2016 2015 <br /> RECONCILIATION OF NET LOSS TO NET <br /> CASH PROVIDED BY OPERATING ACTIVITIES <br /> Net loss $ (392;222) $ (750,879) <br /> Adjustments to reconcile net loss to net cash o n\ <br /> provided by operating activities: /��� <br /> Depreciation and amortization 51199,297 334,696 <br /> Income from joint venture 1,066,481) -0- <br /> Loss on disposal of equipment o 6 24,938 32,657 <br /> I Deferred income tax benefit 000 53 00 <br /> Non-controlling interest in subsidiary 10,411 14,793 <br /> Decrease (increase) in: 0 <br /> I Accounts and accrued fees receivable0 <br /> 2,025,250 4,080,999 <br /> Unbilled costs 32,629 (29,033) <br /> Inventory (375) (50) <br /> I Refundable income taxes 995,222 85,435 <br /> Prepaid franchise fees, advertismg�and deposits (19,378) 199,506 <br /> Increase (decrease) in: �I" <br /> I Accounts payable and accrued expenses (831,001) (518,623) <br /> Accrued fees--affiliate"\` 531,917 (757,967) <br /> Accrued fees--nona lliafes (164,117) -0- <br /> I X CO <br /> NET CASH PROVIDED BY OPERATING ACTIVITIES $ 1,397,090 $ 2,638,534 <br /> X <br /> I <br /> I <br /> See notes to consolidated financial statements. <br /> I <br /> I <br /> I <br /> 1 -8- <br />