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Craig A. Smith & Associates, Inc. and MP83D, LLC
<br />Combined Statement of Cash Flows
<br />See accompanying notes to combined financial statements and accountant's review report
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<br />December 31,
<br />December 31,
<br />Cash Flows From Operating Activities
<br />2015
<br />2014
<br />Combined net profit
<br />$ 1,013,966
<br />$ 353,974
<br />Adjustments to reconcile combined net profit to net cash provided by
<br />operating activities:
<br />Depreciation and amortization
<br />49,099
<br />52,540
<br />Allowance for doubtful accounts
<br />-
<br />(37,150)
<br />(Gain) Loss on sale of equipment
<br />(11,750)
<br />6,943
<br />Changes in operating assets and liablitlies:
<br />Increase in accounts receivables
<br />(386,384)
<br />(207,458)
<br />Decrease in costs and estimated earnings in excess of billings
<br />7,868
<br />40,996
<br />(Increase) decrease in other receivables
<br />(82,797)
<br />6,750
<br />(Increase) decrease in other receivables
<br />(87)
<br />569
<br />Decrease in other assets
<br />112
<br />(465)
<br />Decrease in accounts payable
<br />(87,059)
<br />(40,098)
<br />Increase in accrued expenses
<br />117,362
<br />117,805
<br />(Increase) decrease in deferred rent
<br />(12,867)
<br />32,357
<br />Total adjustments
<br />(406,503)
<br />(27,211)
<br />Net cash provided by operating activities
<br />607,463
<br />326,763
<br />Cash Flows Used in Investing Activities
<br />Proceeds from sale of assets
<br />-
<br />19,672
<br />Capital expenditures
<br />(34,280)
<br />(68,267)
<br />Net cash used in investing activities
<br />(34,280)
<br />(48,595)
<br />Cash Flows Used in Financing Activities
<br />Payments received on note receivable
<br />13,940
<br />13,134
<br />(Repayments) from line of credit, net
<br />(150,000)
<br />(29,981)
<br />Repayments of notes payable - related parties
<br />(87,587)
<br />(97,413)
<br />Principal payments of bank notes payable
<br />(137,589)
<br />(129,326)
<br />Stockholders' distributions
<br />(150,000)
<br />-
<br />Decrease, increase in lease obligations
<br />(43,532)
<br />14,441
<br />Net cash used in financing activities
<br />(554,768)
<br />(229,145)
<br />Net increase in Cash
<br />18,415
<br />49,023
<br />Cash - Beginning of Year
<br />52,545
<br />3,522
<br />Cash - End of Year
<br />$ 70,960
<br />$ 52,545
<br />Supplemental Disclosure of Cash Flow Information:
<br />Cash paid during the period for:
<br />Interest
<br />$ 30,590
<br />$ 57,070
<br />See accompanying notes to combined financial statements and accountant's review report
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