Gould Corportaion

Statement of Cash Flows

For the Years Ending December 31

Cash Flows from Operating Activities

Net Income $84,000
Add Expenses Not Requiring Cash:
Depreciation & Amortization of Goodwill 35000
Gain for sale of fixed assets -5000
Other Adjustments:
Add Reduction in Accounts Receivable -9000
Inventories 6000
Add Increase in Accounts Payable -5000
Accrued Expenses 4000
Add Increase in Prepaid Expenses 3000
Net Cash from Operating Activities $113,000
Cash Flows from Investing Activities
Less Purchase of New Equipment -70000
Other 7000
Net Cash Used for Investing Activities -$63,000
Cash Flows from Financing Activities
Payment of Mortgage Principal -$150,000
Preffered Stock 175000
Dvidends -51000
Net Cash from Financing Activities -$26,000
NET INCREASE/(DECREASE) IN CASH $24,000
CASH, BEGINNING OF YEAR 51000
CASH, END OF YEAR $75,000