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West Construction, Inc. and Subsidiaries
<br />Consolidated Statements of Cash Flows
<br />For the years ended December 31, 2014 and 2013
<br />2014 2013
<br />Operating Activities
<br />Cash received from clients $ 38,828,126 $ 20,843,025
<br />Cash paid to subcontractors, suppliers
<br />and employees (34,074,142) (21,780,881)
<br />Other income received 68,452 81,419
<br />Interest paid (7,431) (40,137)
<br />Foreign income taxes paid (52,528) (38,906)
<br />Net cash provided (used) by
<br />operating activities 4,762,477 (935,480)
<br />Investing Activities
<br />Purchases of certificates of deposit (93,400) (103,300)
<br />Proceeds received from certificates of deposit 151,892 -0-
<br />Advances to employees (6,450) (1,500)
<br />Repayments from employees 1,410 4,436
<br />Purchases of property and equipment (167,094) -0-
<br />Proceeds received from -sale of property and equipment 1,000,000 (45,023)
<br />Net cash provided (used) by
<br />investing activities 886,358 (145,387)
<br />Financing Activities
<br />Advances from lines of credit 800,000 1,596,195
<br />Repayments of lines of credit (1,733,915) (1,362,280)
<br />Repayments of notes payable (15,135) (9,970)
<br />Advances from related parties -0- 480,000
<br />Repayments to related parties -0- (100,000)
<br />Stockholder distributions (220,408) -0-
<br />Net cash provided (used) by
<br />financing activities (1,169,458) 603,945
<br />Net increase (decrease) in cash and cash equivalents 4,479,377 (476,922)
<br />Cash and cash equivalents, beginning of year
<br />Cash and cash equivalents, end of year
<br />359,820 836,742
<br />$ 4,839,197 $ 359,820
<br />Read the accompanying notes and independent auditors' report.
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