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Barth Construction, Inc. <br /> STATEMENT OF CASH FLOWS <br /> ' (See Accountants' Review Report) <br /> Year ended September 30, 2002 <br /> Increase (Decrease) in Cash and Cash Equivalents <br /> Cash flows from operating activities <br /> Net earnings $ 379598 <br /> Adjustments to reconcile net earnings to net cash provided by <br /> (used in) operating activities <br /> Depreciation 209337 <br /> Deferred tax benefit (82000) <br /> Changes in assets and liabilities: <br /> Decrease in contract receivables 94,455 <br /> ' Increase in costs and estimated earnings in excess of <br /> billings on uncompleted contracts (3,400) <br /> Decrease in income tax deposits 970 <br /> Decrease in accounts payable (216,757) <br /> ' Increase in retirement plan contributions payable 21 ,445 <br /> Increase in accrued expenses 74 <br /> 1 Net cash used in operating activities (53 ,278) <br /> Cash flows from investing activities <br /> Proceeds from sale of assets 25 ,000 - <br /> Purchase of equipment (79506) <br /> Net cash provided by investing activities 17,494 <br /> Net decrease in cash and cash equivalents (359784) <br /> ' Cash and cash equivalents - October 1 , 2001 504,842 <br /> Cash and cash equivalents - September 30, 2002 $ 469,058 <br /> Cash paid during the period for: <br /> ' Income taxes $ 81945 <br /> Interest $ _ <br /> ' The accompanying notes are an integral part of this statement. <br /> . 5 . <br />