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HEWETT-KIER CONSTRUCTION, INC. <br /> STATEMENT OF CASH FLOWS <br /> FOR THE YEAR ENDED DECEMBER 31, 1998 <br /> CASH FLOWS FROM OPERATING ACTIVITIES: g 237,977 <br /> Net income <br /> Adjustments to reconcile net income to net <br /> cash provided (used) by operating activities <br /> Depred 77,351 <br /> Depreciation ( 1 ,35 <br /> Gain on sale of securities 0 124 <br /> Loss on sale of equipment <br /> (Increase) decrease in: ( 498,145) <br /> Receivables-contracts ( 785,540) <br /> -retainages <br /> -other 209,142 <br /> Unbilled work on contracts in process 40,018 <br /> Prepaid expenses and other current assets 5,198 <br /> Increase (decrease) in: 81 <br /> Accounts payable and accrued expenses 531,532,7781 <br /> Retainages-subcontractors 43,408) <br /> Pension and profit sharing contributions ( 273 644 <br /> Advance billings on contracts in process <br /> NET CASH PROVIDED BY OPERATING ACTIVITIES 894.266 <br /> CASH FLOWS FROM INVESTING ACTA/TIES: 785,625) <br /> Purchase of marketable securities ( 676,284 <br /> Proceeds from sale of marketable securities ( 28,936) <br /> Purchase of property and equipment <br /> NET CASH USED BY INVESTING ACTIVITIES ( 138,277) <br /> CASH FLOWS FROM FINANCING ACTIVITIES: ( 100 000) <br /> Distributions <br /> NET CASH USED BY FINANCING ACTIVITIES ( 100,000) <br /> NET INCREASE IN CASH AND CASH EQUIVALENTS 655,989 <br /> CASH AND CASH EQUIVALENTS - Beginning 601,839 <br /> CASH AND CASH EQUIVALENTS - Ending 5_125_74.82_a <br /> See accompanying notes and accountants' review report <br /> 4 <br /> mini A av . cmrlur_iu • ui IcxAT - AEIN 6 COMPANY <br />