calculate indirect cash flow from 2003-2004 and 2004-2005

Chang Dental Clinic Income Statement FYE December 31 2003 2004 2005 Fee revenues Operating expenses Associate fees Salaries & benefits Dental Supplies Equipment leasing Rent & utilities Laboratory fees General & office Promotion & entertainment Automobile expenses Telephone Professional fees Interest and bank charges Professional development Insurance Licenses, fees & dues Bad debts (recovered) 287,281 600,308 812,987 40,098 39,008 26,291 19,456 29,428 186 9,051 794 1,337 4,697 5,755 13,579 2,021 849 1,282 339 106,486 93,868 40,508 52,582 38,500 10,636 14,193 8,172 3,677 1,251 3,294 7,015 406 1,612 2,685 17,939 166,727 127,703 62,715 52,582 42,441 21,626 17,420 10,775 5,104 11,187 5,910 5,630 2,913 2,778 1,843 (3,647) Amortization Total expenses Net income 8,687 202,858 84,423 10,484 413,308 187,000 14,872 548,579 264,408 Post Buyout 2003 2004 2005 Cash Accounts receivable Inventory 29,528 2,677 41,248 5,296 4,067 46,942 6,366 8,000 Prepaid expenses Total current assets Fixed assets 32,205 36,408 46,544 60,625 1,646 59,021 69,834 8,000 206,000 Less: Accumulated amortization Net fixed assets (8,687) 27,721 (19,171) 41,454 (30,595) 39,239 206,000 Goodwill Total 1 59,927 1 87,999 1 98,261 296,000 510,000 8,201 8,173 39 10,724 10,929 Current maturity of LTD 16,374 10,763 10,929 32,004 32,004 Long term debt Total liabilities 16,374 10,763 10,929 287,996 320,000 Bank indebtedness Accounts payable - Owner's equity Total 43,553 59,927 77,236 87,999 87,332 98,261 190,000 510,000