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NUNEZ CONSTRUCTION,INC. <br /> STATEMENT OF CASH FLOWS <br /> r FOR THE YEAR ENDED DECEMBER 31,2017 <br /> 416* <br /> (READ THE INDEPENDENT ACCOUNTANTS'REVIEW REPORT) <br /> wir <br /> CASH FLOWS FROM OPERATING ACTIVITIES <br /> Net Income $ 512,112 <br /> Adjustments to reconcile net income to <br /> net cash provided by operating activities <br /> tiro Depreciation 15,615 <br /> 411, (Increase) Decrease in: <br /> Contracts receivable 521,154 <br /> Costs and estimated earnings in excess <br /> of billings on uncompleted contracts (18,150) <br /> + ► <br /> Increase (Decrease) in: <br /> r Accounts payable = 10,206 <br /> Billings in excess of costs and esttated <br /> earnings on uncompleted contracts: (463,331) <br /> 11110 <br /> Cash Provided by Operating Activities 577,606 <br /> fir► <br /> +fir CASH FLOWS FROM INVESTING ACTIVITIES <br /> 41110 Acquisition of Property ui <br /> &`' pment (12,649) <br /> Cash UsRd byInvbng Activities (12,649) <br /> gir <br /> CASH FLOWS FRONT FINANCING ACTIVITIES <br /> ver Proceeds fron'bank line of credit 800,000 <br /> Repayments of bank line of credit (900,000) <br /> Stockholder profit distributions (615,588) <br /> Cash Used by Financing Activities (715,588) <br /> v ► Decrease in Cash (150,631) <br /> Cash-Beginning ' 845,932 <br /> fly <br /> Cash-End $ 695,301 <br /> t <br /> The accompanying notes to the financial statements are an <br /> integral part hereof and should be read. -6- <br /> r <br /> +rr <br /> *sr <br />