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EXCEL - IDEA: XBRL DOCUMENT - Earn-A-Car Inc.Financial_Report.xls
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v2.4.0.6
STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
9 Months Ended
Nov. 30, 2012
Nov. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income and other comprehensive income $ 644,829 $ 271,137
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Change in cumulative translation adjustment (166,018) (94,618)
Depreciation 665,290 452,466
Net (Gain) losses from disposition of revenue-earning vehicles 5,209 17,569
Change in Assets and Liabilities:    
(Increase) decrease in receivables (491,812) (2,330)
Increase (decrease) in accounts payables 36,879 (46,554)
Increase (decrease) in accrued expenses (34,647) (844)
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES 659,730 596,826
Revenue-earning vehicles:    
Purchases (2,137,593) (610,280)
Proceeds from sales 40,695 0
Property, equipment and software:    
Purchases. (13,126) (1,108)
Loans (extended) collected (2,720) (175,344)
CASH FLOWS PROVIDED USED) BY INVESTING ACTIVITIES (2,112,744) (786,732)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from (Payments on) leases payable (net) (119,675) 471,943
Proceeds from (Payments on) loans payable (net) 2,193,438 (89,022)
Proceeds from (Payments on) shareholder loans (net) (1,000) (97,879)
CASH FLOWS PROVIDED (USED) BY FINANCING ACTIVITIES 2,072,763 285,042
NET (DECREASE) IN CASH AND CASH EQUIVALENTS 619,749 95,136
Cash, beginning of period 171,354 69,480
Cash, end of period 791,103 164,616
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 185,847 136,199
Cash paid for income taxes $ 0 $ 0