DIRECT CASH FLOW STATEMENT FOR THE PERIOD ENDING 1991

Cash flow from operating activities

Cash collected from customers for sales $ 25,446,000.00
Wages Paid to the labour $ (8,911,000.00)
Land rent paid in cash $ (1,428,000.00)
Cash paid for Other Operating and Misc Expenses $ (9,272,000.00)
Tax paid in cash $ -
Net cash generated from operating activities $ 5,835,000.00
Cash flow from investing activities
Plant and equipment Purchased $ (5,146,000.00)
Sale of land $ 110,000.00
Toiyable Resort Interest capatlized $ (416,000.00)
Loan $ (85,000.00)
Capital Expediture for real estate held for sale $ (16,000.00)
Note Receivable $ 485,000.00
Misc other assest sold $ 23,000.00
interest on investment $ 279,000.00
Rent $ 274,000.00
Misc expenses $ (132,000.00)
misc income $ 26,000.00
Other deferred credit $ 216,000.00
Net cash generated from investing activities $ (4,382,000.00)
Cash flow from financing activities
Interest paid $ (1,073,000.00)
Dividend $ (112,000.00)
Loan $ 1,200,000.00
Loan paid $ (1,200,000.00)
Long term Debt $ 3,344,000.00
Repayment of long term debt $ (2,820,000.00)
New common stock issued $ 33,000.00
Net cash generated from financing activities $ (628,000.00)
Net increase in cash and cash Equivalents $ 825,000.00
Cash and cash equivalents at the beginning of period $ 3,272,000.00
Cash and cash equivalents at the end of period $ 4,097,000.00
Total Operating Revenues 25143000
Decrease In Account Receivables 59000
Increase Deferred revenue 244000
Cash Sales 25446000

Wages And Salaries 9063000

Accured Compensation -152000
Salaries and wages paid 8911000 9272

Land rentals 1447000

Accured land rent -19000
Land rent paid 1428000

33
 INDIRECT CASH FLOW STATEMENT FOR THE PERIOD ENDING 1991
Cash flow from operating expenses
Net profit before taxation; and extraordinary item $ 1,997,000.00
Adjustments for:
Other non operating expense $ 1,205,000.00
Other non operating income $ (908,000.00)
EBIT(Operating profit) $ 2,294,000.00
Depreciation $ 2,637,000.00
EBITDA $ 4,931,000.00
(+)Changes in Accounts recievable $ 59,000.00
(+)Prepaid expences and other current assests $ 6,000.00
(+)Change in Accounts payable $ 245,000.00
(+)Accured land rent $ 19,000.00
(+)Accured compensation $ 152,000.00
(+)Deferred Revenue $ 244,000.00
(+)Other accured liabilties $ 179,000.00 $ 904,000.00
Net Cash generated from operations $ 5,835,000.00
Income Tax paid $ -
Net cash generated from operating activites $ 5,835,000.00
Cash flow from investing activities
Cash from sale proceeds of real estate $ 110,000.00
Capital Expediture for real estate held for sale $ (16,000.00)
Cash collected as Note receivable $ 485,000.00
Cash for given to TR as Notes $ (85,000.00)
Cash paid for purchase of PPE $ (5,146,000.00)
Toiyable Resort Interest capatlized $ (416,000.00)
Cash from sale proceeds of other assets $ 23,000.00
Cash received for interest on Investments $ 279,000.00
Cash received for commercial property rental $ 274,000.00
Cash paid as miscellaneous expense $ (132,000.00)
Cash received from miscellaneous income $ 26,000.00
Cash from deferred credits $ 216,000.00
Net cash generated from investing activities $ (4,382,000.00)
Cash flow from financing activities
Interest paid $ (1,073,000.00)
Dividend $ (112,000.00)
Cash from short term loan $ 1,200,000.00
Short term loan repaid $ (1,200,000.00)
Long term Debt $ 3,344,000.00
Repayment of long term debt $ (2,820,000.00)
Proceeds collected on New common stock issued $ 33,000.00
Net cash generated from financing activities $ (628,000.00)
Net increase in cash and cash Equivalents $ 825,000.00
Cash and cash equivalents at the beginning of period $ 3,272,000.00
Cash and cash equivalents at the end of period $ 4,097,000.00
Opening of Pand E 15317
Plant and equipment purchased 5146
Depreciation -2637
Closing of P and E 17826

Opening note receivables 927

Note receivables paid back -485
Loan to toiyable resort 85
Inventory of real estate sold 440
Closing 967

Taxes:
Opening 0
Closing -100
Deferred tax -479
Tax expensed 579
0