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Barth Construction, Inc. <br /> STATEMENT OF CASH FLOWS <br /> (See Independent Accountants' Review Report) <br /> Year ended September 30, 2011 <br /> Increase (Decrease) in Cash and Cash Equivalents <br /> Cash flows from operating activities <br /> Net loss $ 8,626 <br /> Adjustments to reconcile net earnings to net cash provided by <br /> (used in) operating activities <br /> Depreciation 4,506 <br /> Deferred tax benefit (59,300) <br /> Changes in assets and liabilities : <br /> Decrease in receivables 222,838 <br /> Decrease in costs and estimated earnings in excess of <br /> billings on uncompleted contracts 11 ,046 <br /> Decrease in income tax deposits 608 <br /> Increase in refundable deposits ( 100) <br /> Decrease in accounts payable (521 ,576) <br /> Increase in taxes payable 1 , 137 <br /> Increase in payroll taxes payable 431 <br /> Decrease in retirement plan contributions payable (1 ,968) <br /> Decrease in billings in excess of costs and estimated <br /> earnings on uncompleted contracts (191 ,720) <br /> Net cash used in operating activities (525,472) <br /> Cash flows from investing activities <br /> Purchase of property and equipment (529) <br /> Net cash used in investing activities (529) <br /> Cash flows from financing activities <br /> Capital infusion to additional paid in capital 771 , 148 <br /> Net cash used in investing activities 771 , 148 <br /> Net increase in cash and cash equivalents 2450147 <br /> Cash and cash equivalents - October 1 , 2010 858,780 <br /> Cash and cash equivalents - September 30, 2011 $ 101030927 <br /> Cash paid during the period for: <br /> Income taxes $ 17,400 <br /> Interest $ 33 <br /> The accompanying notes are an integral part of this statement. <br /> - 6 - <br />