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PROSHOT CONCRETE, INC. AND SUBSIDIARIES <br />CONSOLIDATED STATEMENTS OF CASH FLOWS <br />FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018 <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 <br />Gain on disposal of equipment <br />Contract receivables <br />Retainage receivables <br />Costs and estimated earnings in excess <br />of billings <br />Prepaid insurance and other current assets <br />Accounts payable <br />Accrued expenses and amounts withheld <br />Billings in excess of costs and estimated earnings <br />Accrued loss on contracts -in -progress <br />Net cash provided by operating activities <br />CASH FLOWS FROM INVESTING ACTIVITIES <br />Purchase of property and equipment <br />Proceeds from sale of property and equipment <br />Purchase and improvements of investment property <br />Due from stockholder <br />Net cash used in investing activities <br />2019 2018 <br />$ 847,068 $ 1,163,881 <br />631,662 <br />591,213 <br />(99,444) <br />(8,360) <br />(474,211) <br />(895,705) <br />523,865 <br />(544,785) <br />305,527 <br />(326,251) <br />(49,850) <br />281,234 <br />127,321 <br />94,263 <br />157,049 <br />34,565 <br />(88,606) <br />(53,800) <br />144,691 <br />- <br />2,025,072 336,255 <br />(473,458) <br />135,007 <br />(18,414) <br />(819,442) <br />(750,748) <br />15,305 <br />(52,157) <br />(1,858,141) <br />(1,176,307) (2,645,741) <br />See notes to the consolidated financial statements. <br />tl <br />