$27,160,939 $26,289,308
Kentucky State University Statement of Cash Flows Periods Ending November 30, 2013 and December 31, 2012 (Unaudited)
| November 2013 | December 2012 | |
| Reconciliation of net operating gain (loss) to net cash from operating activities | ||
| Operating gain (loss) | ($9,729,027) | ($10,638,730) |
| Adjustments to reconcile operating income to net cash from operating activities | ||
| Depreciation expense | 1,856,951 | 1,876,356 |
| Gain (loss) on disposal of capital assets | 0 | 0 |
| Bad debt expense | 0 | 0 |
| Changes in assets and liabilities: | ||
| Receivables, net | (614,898) | 328,668 |
| Inventory and prepaid expenses | (151,639) | (30,765) |
| Accounts payable and accrued liabilities | (278,744) | (2,027,055) |
| Accrued compensated absences | 0 | (49,290) |
| Other liabilities | 339,897 | (217,055) |
| Deferred revenue | (7,428) | (850,547) |
| Net cash from operating activities | ($8,584,887) | ($11,608,418) |