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LEFT HAND DITCH COMPANY <br />STATEMENTS OF CASH FLOWS <br />CASH FLOWS FROM OPERATING ACTIVITIES <br />Net income for year <br />Adjustments to reconcile net income (loss) to <br />net cash provided by operations - <br />Depreciation expense <br />Amortization expense <br />(Increase) decrease in - <br />Assessments and receivables <br />Prepaid expenses <br />Increase (decrease) in - <br />Accounts payable <br />Rents received in advance <br />Accrued interest <br />Net cash provided by operating activities <br />CASH FLOWS FROM INVESTING ACTIVITIES <br />(Increase) decrease in certificates of deposit <br />(Increase) decrease in cash debt service reserve <br />Acquisition of property and equipment <br />Net cash (used) by investing activities <br />CASH FLOWS FROM FINANCING ACTIVITIES <br />Principal payment on CWCB loan <br />Net cash (used) by financing activities <br />NET INCREASE IN CASH AND CASH EQUIVALENTS <br />CASH AND CASH EQUIVALENTS, at beginning of year <br />CASH AND CASH EQUIVALENTS, at end of year <br />SUPPLEMENTAL DATA: <br />Interest paid <br />Years ended December 31, <br />2011 2010 <br />$ 56,511 <br />37,737 <br />15,133 <br />(5,791) <br />20 <br />1,109 <br />5,500 <br />(409) <br />109,810 <br />$ 33,658 <br />38,080 <br />15,133 <br />(4,914) <br />(1,885) <br />5,218 <br />(389) <br />84,901 <br />(904) (1,618) <br />(8) (9) <br />(51,636) (14,366) <br />(52,548) (15,993) <br />(15,015) (14,387) <br />(15,015) (14,387) <br />42,247 54,521 <br />262,980 208,459 <br />$ 305,227 $ 262,980 <br />$ 18,451 $ 19,101 <br />See accompanying notes and independent accountants' review report. Page 4 <br />