FairPoint Communications 2003 Annual Report Download - page 116

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10,533,257 9,768,515 8,331,687
OPERATING INCOME 362,421 1,463,357 1,791,197
OTHER INCOME (EXPENSES)
Interest expense (43,862) (78,081) (154,861)
Interest during construction 9,534 — —
Other, net 13,188 28,039 33,284
(21,140) (50,042) (121,577)
NET INCOME $341,281 $1,413,315 $1,669,620
The accompanying notes are an integral part of these financial statements.
4
ILLINOIS VALLEY CELLULAR RSA 2-I PARTNERSHIP
STATEMENTS OF PARTNERS' CAPITAL
December 31, 2002, 2001, and 2000
Total
Balance at December 31, 1999 $2,859,792
Net income 1,669,620
Distribution (549,994)
Balance at December 31, 2000 3,979,418
Net income 1,413,315
Distribution (349,796)
Balance at December 31, 2001 5,042,937
Net income 341,281
Balance at December 31, 2002 $5,384,218
The accompanying notes are an integral part of these financial statements.
5
ILLINOIS VALLEY CELLULAR RSA 2-I PARTNERSHIP
STATEMENTS OF CASH FLOWS
Years Ended December 31, 2002, 2001, and 2000
2002
2001
2000
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $341,281 $1,413,315 $1,669,620
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation 956,539 748,968 772,698
Provision for losses on accounts receivable (6,500) (24,000) (8,000)
Changes in assets and liabilities:
(Increase) Decrease in:
Accounts receivable (7,940) (225,823) (9,609)
Prepaids (93,938) — —
Increase (Decrease) in:
Accounts payable 517,627 102,857 (135,409)