SOCC, INC. dba SEVEN OAKS COUNTRY CLUB
STATEMENTS OF CASH FLOWS Years Ended December 31, 2022 and 2021
2022
2021
Cash Flows From Operating Activities Change in net assets without donor restrictions
$
1,084,527
$
1,500,044
Adjustments to reconcile change in net assets without donor restrictions to net cash provided by operating activities: Depreciation
686,910 131,161
709,106 174,956
Loss on disposition of property and equipment
Provision for doubtful accounts
9,949
7,219
Membership fees activity
(355,600)
(227,865)
Changes in assets and liabilities: (Increase) decrease in: Accounts receivable
(595,159) (600,488) (6,500) (65,215) (77,615) 107,934 89,915 78,415 72,738 560,972
(125,107)
Employee Retention Credit receivable
-
Membership fees receivables
5,100
Inventories
17,254
Prepaid expenses
(150,706)
Increase (decrease) in: Accounts payable
(103,056) (160,917) 587,408 27,274 2,260,710
Accrued expenses
Employee Retention Credit payable
Deferred revenue
Net cash provided by operating activities
Cash Flows From Investing Activities Purchase of property and equipment -
Net cash (used in) investing activities
(686,054)
(1,308,969)
Cash Flows From Financing Activities Net (payments) on revolving credit agreement
- -
(300,000) 350,000
Proceeds from long-term debt
Principal (payments) on long-term debt
(1,063)
-
Principal (payments) on capital lease obligations Proceeds from sale of proprietary memberships Redemption of proprietary memberships Proceeds from initiation and transfer fees
(163,597) 291,800 (46,900) 110,700 190,940 65,858
(198,064) 154,200 (37,518) 111,183
Net cash provided by financing activities Net increase in cash and cash equivalents
79,801
1,031,542
Cash and cash equivalents: Beginning
1,847,212 1,913,070
815,670
Ending
$
$
1,847,212
See Notes to Financial Statements.
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