GEORGIA COMPANY

Statement of Cash Flow (indirect)

For Year Ended December 31 2009

Cash flow from operating activities

Net income 120,575.00
Adjustment
increase from accounts receivable (9,840.00)
decrease in prepaid expenses 500.00
Increase in inventory ###
decrease in accounts payable ###
Depreciation expense 20,000.00
loss on sale of equipment 5,875.00
Total cash flow from operating activities 42,075.00

Cash flow from investing activities

Gain on sales of equipment 11,625.00
Purchase equipment ###
Total cash flow from investing activities ###

Cash flow from financing activities

Decrease in long-term note payable ###
Increase in short-term note payable 3,000.00
Issuance of common stock 47,000.00
Declared and paid cash dividend ###
Total cash flow from financing activities ###

Net decrease in cash ###

Cash balance prior year end 73,500.00
Cash balance after year end 49,800.00

LOLLAND COMPANY
Statement of Cash Flow (indirect)
For Year Ended December 31 2009

Cash flow from operating activities

Net income $36,400.00
Adjustment
decrease in account receivable $14,000.00
increase in inventory $11,800.00
increase in accounts payable $9,400.00
decrease in income tax payable $300.00
depreciation expense $72,000.00
Total cash flow from operating activities ###

Cash flow from investing activities

Total cash flow from investing activities $-

Cash flow from financing activities

Net increase in cash ###

Cash balance prior year end $53,600.00
Cash balance after year end ###
 GEORGIA COMPANY
Statement of Cash Flow (direct)
For Year Ended December 31 2009

Cash flow from operating activities

Cash received from customers 574,660.00
Cash paid for merchandise ###
Cash paid for other expense ###
Cash paid for income expense (24,250.00)
Total cash flow from operating activities 42,075.00

Cash flow from investing activities

Gain on sales of equipment 11,625.00
Purchase equipment (35,000.00)
Total cash flow from investing activities (23,375.00)

Cash flow from financing activities

Decrease in long-term note payable (40,500.00)
Increase in short-term note payable 3,000.00
Issuance of common stock 47,000.00
Declared and paid cash dividend (51,900.00)
Total cash flow from financing activities (42,400.00)

Net decrease in cash (23,700.00)

Cash balance prior year end 73,500.00
Cash balance after year end 49,800.00

BOULWARE INC.
Statement of Cash Flow (indirect)
For Year Ended December 31 2009

Cash flow from operating activities Cash flow from operat

Net income ### Cash received from cu
Adjustment Cash paid to merchad
increase in accounts receivable, net $8,768.00 cash paid to other exp
decrease in inventory $43,487.00 cash paid to taxes
decrease in prepaid expense $803.00 Total cash flow from o
decrease in accounts payable $10,766.00
decrease in wages payable $11,118.00
decrease in income taxes payable $1,898.00
depreciation expense $88,753.00
gain on sale of equipment $3,125.00
Total cash flow from operating activities ###

Cash flow from investing activities

sales of equipment $28,019.00
purchased equipment $85,000.00
Total cash flow from investing activities $56,981.00

Cash flow from financing activities

retire note payable $45,000.00
issuance of common stock $50,000.00
cash paid to dividend $117,683.00
Total cash flow from financing activities $112,683.00

Net increase in cash $35,169.00

Cash balance prior year end $49,494.00
Cash balance after year end $84,663.00
 BOULWARE INC.
Statement of Cash Flow (direct)
For Year Ended December 31 2009

Cash flow from operating activities

Cash received from customers 967832
Cash paid to merchadise -592303
cash paid to other expense -112194
cash paid to taxes -58502
Total cash flow from operating activities 204833