CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2002 2001 2000 Cash Flows from Operating Activities Net income (loss) $(4,705,926) $ 1,992,422 $ 26,281,086 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 15,211,581 17,045,572 15,379,703 Provision for doubtful accounts 1,168,447 1,637,639 807,569 Provision for inventory reserves 3,104,411 990,904 1,437,610 Provision for warranty 8,840,731 3,778,458 1,308,058 Deferred tax provision (benefit) (610,269) (1,169,090) 494,685 (Gain) loss on disposition of fixed assets (162,721) 191,122 (94,261) Gain on sale of equipment on operating lease (708,046) (626,289) (2,142,119) Gain on sale of finance receivables (342,063) (408,840) (438,010) Equity in loss of joint venture 241,922 195,781 Minority interest in losses (earnings) of subsidiary 80,403 (98,578) (8,328) (Increase) decrease in: Receivables 3,244,069 677,165 8,155,450 Inventories 6,527,167 (4,446,613) (18,901,256) Prepaid expenses (1,378,562) (879,420) 230,183 Other assets (1,840,920) (991,190) 459,650 Increase (decrease) in: Accounts payable 6,536,815 (11,046,880) (3,675,821) Customer deposits (1,886,474) 2,191,155 (575,633) Accrued product warranty (8,535,986) (4,855,359) (1,249,472) Income taxes payable 597,519 (1,339,156) (984,131) Loss reserves of captive insurance company 2,275,444 749,312 Other accrued liabilities 5,331,169 (2,101,412) (3,272,367) Foreign currency transaction (gain) loss 90,651 (80,925) (120,257) Net cash provided by operating activities 32,837,440 1,451,919 23,288,120 Cash Flows from Investing Activities Proceeds from sale of property and equipment 1,238,570 236,286 319,789 Expenditures for property and equipment  (19,273,932) (8,057,422) (21,535,875) Proceeds from sale of equipment on operating lease 16,634,694 25,141,768 48,920,688 Expenditures for equipment on operating lease (14,704,868) (28,001,408) (53,882,130) Additions to finance receivables (40,741,257) (46,908,713) (74,134,723) Collections of finance receivables 20,413,550 26,729,468 32,368,390 Proceeds from sale of finance receivables 29,330,175 18,996,855 38,554,353 Additions to notes receivable (7,228,110) (692,760) (52,000) Repayments on notes receivable 4,554 460,885 115,773 Cash payments in connection with business combinations, net of cash acquired (7,468,669) Net cash used by investing activities (14,326,624) (12,095,041) (36,794,404) See Notes to Consolidated Financial Statements.