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., Timothy Rose Contracting, Inc. <br /> Statement of Cash Flows <br /> For the Six Months ended June 30, 2005 <br /> do Cash Fiows From Operating Activities <br /> Net income 1 , 1537160 <br /> Adjustments to reconcile net income to <br /> net cash provided by operating activities: <br /> Depreciation 172 ,575 <br /> Decrease (increase) in accounts receivable (151 , 921 ) <br /> Decrease (increase) in costs in excess of billings 162 ,459 <br /> (Decrease) increase in accounts payable (379,029) <br /> Increase (decrease) in billings in excess of costs 231314 <br />• Net cash provided by operating activities 980 ,558 <br /> Cash Flows Used in Investing Activities <br /> Purchased equipment (52, 354) <br /> Purchased marketable securities <br /> Sold marketable securities <br /> Shareholder withdrawals 91799 <br /> Net cash used in investing activities (62, 153) <br /> Cash Flows From Financing Activities <br /> New borrowings 511835 <br /> i Principal payments ( 185,688) <br /> Net cash (used) provided by financing activities (133, 853) <br /> Net increase (decrease) in cash 784, 552 <br /> Cash at beginning of year 22, 097 <br /> wl <br /> Cash at end of year 806,649 <br /> I <br /> Supplemental Disclosures <br /> I <br /> Interest paid in cash 11 , 891 <br />. I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> i <br /> See accompanying accountants compilation report <br /> I <br /> I <br /> i <br /> r � <br />