Page 24 - Pancake Supply Chain Co-op, Inc. 2017 Annual Report

CENTRALIZED SUPPLY CHAIN SERVICES, LLC
STATEMENTS OF CASH FLOWS
Years ended December 31, 2017 and 2016

2017 2016
Cash flows from operating activities
Net earnings $ 3,448,475 $ 5,046,684
Adjustment to reconcile net earnings
to net cash provided by operating activities
Depreciation 10,736 10,821
Increase (decrease) in cash from changes in
operating assets and liabilities
Accounts receivable (129,137) 822,299
Prepaid expenses 60,072 (27,586)
Accounts payable (341,647) 288,712
Accrued payroll and related liabilities 97,793 (28,607)
Net cash provided by operating activities 3,146,292 6,112,323

Cash flows from investing activities
Purchase of equipment and leasehold improvements - (1,630)
Net cash used in investing activities - (1,630)

Cash flows from financing activities
Dividends paid to members (4,398,834) (4,806,941)
Net cash used in financing activities (4,398,834) (4,806,941)

Net change in cash and cash equivalents (1,252,542) 1,303,752

Cash and cash equivalents at beginning of year 5,685,512 4,381,760

Cash and cash equivalents at end of year $ 4,432,970 $ 5,685,512

See accompanying notes to financial statements.

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