____________Turner Inc.__________________Statement of Cash Flow

For the year ended Dec 31st , 2012

Cash flows from Operating Activities

DIRECT INDIRECTCash collections from customers 56,000 Net incomeCash paid for merchandise (12,100) Adjustments to reconcile net income to net operating cash:

Cash paid for operating expenses (25,000) Amortization expenseCash paid for interest - Gain/Loss on Sale of AssetsCash paid for income taxes (2,700) Gain/Loss on Sale of InvestmentsDividends Received - Goodwill amortization

Change in prepaid rentNet inflow from operating: 16,200 Change in taxes payable

Change in wages payableChange in accounts receivableChange in inventoryChange in prepaid insuranceChange in office suppliesChange in accounts payableChange in interest payableChange in other (accrued) liabilitiesNet inflow from operating:

Net Cash inflow from operating activities

Cash flows from Investing ActivitiesCash paid for equipment (6,000)Cash received on the sale of equipment 2,500 Cash paid for investments - Cash received on sale of investments -

Net cash outflow from investing activities:

Cash flows from financing activities:Cash paid for reduction of bonds/long term debt: - Cash received on issuance of bonds/long term debt - Cash received on issuance of shares 2,000 Cash paid for redemption of shares - Cash paid for dividends (6,100)Cash paid/received on short term debt

Net cash outflow from financing activities

Net increase in cash

Cash Balance,1st Jan 2012Cash Balance, 31st Dec 2012

____________Turner Inc.__________________Statement of Cash Flow

For the year ended Dec 31st , 2012

10,000 Adjustments to reconcile net income to net operating cash:

2,000 1,000 - - - (200) - 2,000 (400) - - 1,800 - - 16,200

16,200

(3,500)

(4,100)

8,600

36,800 45,400