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W&J CONSTRUCTION CORPORATION <br />STATEMENTS OF CASH FLOWS <br />For the Years Ended December 31, <br />CASH FLOWS FROM OPERATING ACTIVITIES <br />Net income <br />Adjustments to reconcile net income to net cash <br />provided by operating activities: <br />Depreciation and amortization <br />Proceeds from insurance settlement for property <br />and equipment <br />Gain on insurance settlement of property and <br />equipment <br />(Increase) decrease in assets: <br />Contract receivables <br />Cost and estimated earnings in excess in <br />billings on uncompleted contracts <br />Prepaid expenses <br />Increase (decrease) in liabilities: <br />Accounts payable <br />Accrued expenses <br />Advances received on contracts <br />Billings in excess of costs and estimated <br />earnings on uncompleted contracts <br />Net cash provided by operating activities <br />CASH FLOWS FROM INVESTING ACTIVITIES <br />Purchase of property and equipment <br />CASH FLOWS FROM FINANCING ACTIVITIES' <br />Changes in restricted cash <br />Net activity on line of credit <br />Payment on loan from stockholder <br />Payments on longterm debt <br />Stockholder distributions <br />Net cash used in financing activities <br />NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS <br />CASH AND CASH EQUIVALENTS, beginning of the year <br />CASH AND CASH EQUIVALENTS, end of the year <br />2017 2016 <br />$ 1,921,905 $ 1,462,331 <br />96,531 86,744 <br />11,890 <br />(8,835) <br />(1,834, 516) (66,042) <br />(30,234) 44,966 <br />(14, 851) - <br />1,134,114 113,807 <br />(12,360) (158,480) <br />(901,474) 901,474 <br />348,609 346,619 <br />707,724 2,734,474 <br />(127,508) (36,280) <br />281,477 <br />(281,477) <br />- <br />(400,000) <br />- <br />(95,709) <br />(25, 525) <br />(18, 604) <br />(2,380,651) <br />(661,117) <br />(2,124,699) <br />(1,456,907) <br />(1,544,483) <br />1,241,287 <br />1,648,760 <br />407,473 <br />$ 104,277 $ <br />1,648,760 <br />SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION <br />Cash paid for interest $ 5,600 $ 17,152 <br />NON-CASH OPERATING AND FINANCING ACTIVITIES: <br />Note payable for the purchase of a vehicle $ 35,704 $ 34,220 <br />6 <br />See accompanying notes and independent accountant's review report. <br />