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STATEMENT OF CASH FLOWS:  REPORTING THE EFFECTS OF OPERATING, INVESTING, AND FINANCING ACTIVITIES ON CASH FLOWS   T4-X

4.30 a. continued.

Retained Earnings

3,802

(1)3,831

29

b.FLIGHT TRAINING CORPORATION

Statement of Cash Flows

(Amounts in Thousands)

Year Ended December 31

Year 2Year 3Year 4

Operations:

Net Income (Loss)...............................$739$594$(3,831)

Depreciation.......................................1,4253,1308,388

Increase (Decrease) in Other Non-

current Liabilities..........................1,029(129)(900)

(Increase) Decrease in Accounts

Receivable.......................................(185)(2,199)(1,671)

(Increase) Decrease in Inventories....(950)(962)(2,592)

(Increase) Decrease in Prepay-

ments..............................................(412)(360)164

Increase (Decrease) in Accounts

Payable...........................................545,2866,149

Increase (Decrease) in Other Cur-

rent Liabilities...............................1,1139,701779

Cash Flow from Operations...................$2,813$15,061$6,486

Investing

Acquisition of Property, Plant, and

Equipment......................................$(6,230)$(52,936)$(29,554)

Sale (Acquisition) of Other Non-

current Assets................................471(24)195

Cash Flow from Investing.....................$(5,759)$(52,960)$(29,359)

Financing:

Increase (Decrease) in Notes Pay-

able.................................................$(881)$805$(945)

Increase (Decrease) in Long-Term

Debt................................................3,75136,44612,551

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