justment 574,966 106,623 391,115 62,937
COMPREHENSIVE INCOME $3,747,293 $2,028,476 $2,043,486 $1,049,254
STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED DECEMBER 31,
(UNAUDITED)
2007 2006
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income $3,172,327 $1,921,853
Adjustments to reconcile net income to net
cash
provided by operating activities:
Depreciation and amortization 164,758 221,171
Bad debt expense -- 19,308
Changes in current assets and current
liabilities:
Accounts receivable
(6,899) (1,392,038)
Inventory 306,194 (400,339)
Advance payments to vendors (1,040,484) 462,864
Other receivables
(624,610) 22,354
Accounts payable and accrued
expenses (252,002) 355,753
VAT taxes payable
(16,051) 19,584
Income tax payable
(20,953) (683)
Payroll taxes payable
(1,707) (13,584)
Other payables
66,426 (174,200)
Total Adjustments (1,425,328) (879,810)
Net Cash Provided by Operating
Activities
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SOURCE Tianyin Pharmaceutical, Inc. Copyright©2008 PR Newswire. All rights reserved | |
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