Page 36 - Apple Supply Chain Co-op Inc. 2016 Annual Report.

CENTRALIZED SUPPLY CHAIN SERVICES, LLC
STATEMENTS OF CASH FLOWS
Years ended December 31, 2016 and 2015

2016 2015
Cash flows from operating activities
Net earnings $ 5,046,684 $ 4,766,710
Adjustment to reconcile net earnings
to net cash provided by operating activities
Depreciation 10,821 3,872
Increase (decrease) in cash from changes in
operating assets and liabilities
Accounts receivable 822,299 (722,910)
Prepaid expenses (27,586) (42,847)
Accounts payable 288,712 903,570
Accrued payroll and related liabilities (28,607) (39,333)
Net cash provided by operating activities 6,112,323 4,869,062

Cash flows from investing activities
Purchase of equipment and leasehold improvements (1,630) (66,766)
Net cash used in investing activities (1,630) (66,766)

Cash flows from financing activities
Dividends paid to members (4,806,941) (4,533,790)
Net cash used in financing activities (4,806,941) (4,533,790)

Net change in cash and cash equivalents 1,303,752 268,506

Cash and cash equivalents at beginning of year 4,381,760 4,113,254

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

See accompanying notes to financial statements.

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