31 For the year ended Forecast Period 33 Net income + Depreciation & Amortization (non-cash) ($2,367) ($2,485) ($2,610) ($2,740) ($2,822) ($2,879) ($2,936) Changes in Net Working Capital - increase in accounts receivable + increase in accounts payable Cash flow from operations Capital expenditures Capex% of revenue Cash flow from investment egin{tabular}{|l|l|l|l|l|l|l|} \ (7%) & (7%) & (7%) & (7%) & (7%) & (7%) & (7%) \ end{tabular} Debt paydown Debt borrowings Cash flow from Financing Beginning Cash Balance Net Cash Flow ($13,350) Ending Cash Balance