Page 26 - Pancake_Supply_Chain_Co-op_Inc._2016_Annual_Report

PANCAKE SUPPLY CHAIN CO-OP, INC.
STATEMENTS OF CASH FLOWS
Years ended December 31, 2016 and 2015

2016 2015
Cash flows from operating activities
Net earnings $ 2,538,800 $ 2,369,545
Adjustment to reconcile net earnings to net
cash provided from operating activities
Equity in earnings from equity investment (2,541,830) (2,372,521)
Distributions received from equity investment 2,362,787 2,059,337
Increase in cash from changes in operating
assets and liabilities
Income tax receivable 2,031 (11,953)
Net cash provided from operating activities 2,361,788 2,044,408

Cash flows from financing activities
Patronage paid to members (2,361,788) (2,044,408)
Issuance of common stock 900 1,200
Redemption of common stock (1,600) (1,300)
Net cash used in financing activities (2,362,488) (2,044,508)

Net change in cash and cash equivalents (700) (100)

Cash and cash equivalents at beginning of year 33,100 33,200

Cash and cash equivalents at end of year $ 32,400 $ 33,100

Supplemental disclosures of cash flow information
Cash paid for income taxes $ - $ 11,930

See accompanying notes to financial statements.

5.