FairPoint Communications 2003 Annual Report Download - page 127

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OPERATING INCOME (187,257) 612,566 527,877
OTHER INCOME (EXPENSES)
Interest expense (52,682) (56,560) (103,842)
Interest during construction 20,308 — —
Other, net 8,041 14,352 13,129
(24,333) (42,208) (90,713)
NET INCOME $(211,590)$570,358 $437,164
The accompanying notes are an integral part of these financial statements.
4
ILLINOIS VALLEY CELLULAR RSA 2-III PARTNERSHIP
STATEMENTS OF PARTNERS' CAPITAL
December 31, 2002, 2001, and 2000
Total
Balance at December 31, 1999 $1,988,174
Net Income 437,164
Distribution (99,994)
Balance at December 31, 2000 2,325,344
Net Income 570,358
Distribution (399,761)
Balance at December 31, 2001 2,495,941
Net Income (Loss) (211,590)
Balance at December 31, 2002 $2,284,351
The accompanying notes are an integral part of these financial statements.
5
ILLINOIS VALLEY CELLULAR RSA 2-III PARTNERSHIP
STATEMENTS OF CASH FLOWS
Years Ended December 31, 2002, 2001, and 2000
2002
2001
2000
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $(211,590)$570,358 $437,164
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation 580,137 493,940 489,717
Provision for losses on accounts receivable 5,000 10,000 (25,000)
Changes in assets and liabilities:
(Increase) Decrease in:
Accounts receivable 132,711 (239,549) 88,558
Prepaids (100,381) — —
Increase (Decrease) in:
Accounts payable 20,451 311,892 (390,032)
Other 17,852 (11,548) 26,737