231,109,708The accompanying notes are an integral part of this statement.TIENS BIOTECH GROUP (USA), INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE YEARS ENDED DECEMBER 31, 2010 AND 200920102009CASH FLOWS FROM OPERATING ACTIVITIES:Net income
24,806,901Adjustments to reconcile net income to cash provided by (used in) operating activities:Deferred income(142,070)-Provision for doubtful accounts2,349,703406,795Increase (decrease) provision for obsolete inventory(237,632)309,343Depreciation2,036,2802,173,251Amortization338,019381,742Interest expense167,5864,761(Gain) loss on sale of assets(63,773)47,054Loss on assets written off 40,9825,876Rental expense borne by a related party330,708326,774(Increase) decrease in assets:Accounts receivable, trade - related parties3,411,8778,308,993Other receivables(16,036)(184,540)Other receivables - related parties 9,936,0381,668,812Inventories93,3152,761,335Employee advances(50,112)(38,359)Prepaid expense 258,945(419,419)Increase (decrease) in liabilities:Accounts payable8,742,972(1,249,152)Advances from customers - related parties21,603,6641,178,463Wages and benefits payable76,914(43,279)Other taxes payable(2,674,295)968,294Other payables(74,068)(650,296)Other payables - related parties 9,069,8533,107,699Net cash provided by operating activities60,357,58643,871,
|SOURCE Tiens Biotech Group (USA), Inc.|
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