Novations Inc.

Income Statement
For the Year Ended December 31, 2008
Revenue
Sales
Cost of Goods Sold
Operating Expenses
Income tax Expenses
Gain on sale of Long-term Investments
Loss on Sale of Equipment
Net Income

704,000.00
(368,000.00)
(185,000.00)
(37,600.00)
2,000.00
(1,000.00)
114,400.00

Operating Activities
Net Income
Adj.
Inc: Accounts Receivable
Dec: Inventory
Depreciation Expense
Loss on Sale of equipment
Gain on Sale of LT Inv.
Change in Prepaid Insurance
Accounts Payable
Interest Payable
Income Tax Payable

114,400.00
(5,400.00)
4,400.00
7,000.00
1,000.00
(2,000.00)
(1,600.00)
(4,200.00)
(1,000.00)
4,000.00
116,600.00

Investing Activities
Purchase of Equipment
Sale of Equipment
Sold LT Investments

(12,000.00)
3,000.00
12,800.00
3,800.00

Financing Activities
Payments made for Notes Payable - LT
Proceeds from sale of TS

Total Cash Flow

Add Beg: Cash

(8,000.00)
6,000.00

(2,000.00)
118,400.00
58,000.00
176,400.00

118400

Balance Sheet Data (Partial)

Accounts Receivable
Inventory
Prepaid Rent
Accounts Payable
Wages Payable
Income Statement Data
Sales
CoGS
Wages Expense
Rent Expense
Other Expenses
Net Income
Cash Flow Data
Net Income
+/- Change in accounts receivable
+/- Change in inventory
+/- Change in accounts payable
+/- Change in prepaid rent
+/- Change in wages payable
Cash from operating activities
Other Data
Cash collected from customers
Cash paid for inventory
Inventory purchased on account
Cash paid for rent
Cash paid for wages
Cash paid for other expenses

72,000.00
54,000.00
44,000.00
23,000.00

485,000.00
(217,000.00)
(87,000.00)
(22,000.00)
(121,000.00)
38,000.00

38,000.00
(7,000.00)
(13,000.00)
(8,000.00)
6,000.00

238,000.00
230,000.00
27,000.00
81,000.00
121,000.00

65,000.00
41,000.00
8,000.00
52,000.00
17,000.00