Now we're going to work on the cashflow from operations section of the cashflow statement, and we're gonna use the checklist that we built onto our balance sheet. So let's start in the first year of the construction phase with net income.

We can take net income from a couple of different places, but I'm gonna take it from the calculations tab because I like to see how net income impacts the changes in shareholder's equity.

Next depletion and amortization, these are add-backs, and we can take both of these from our depletion tab. In the case of depletion, it comes from the PP&E base calculation. And in the case of our amortization, we have to be careful here because there are two types of amortization. We have the amortization of soft costs, but we also need to add the amortization of our asset retirement obligation asset.

Next, another add-back is the interest on the asset retirement obligation liability.

This one we can also get from our depletion tab all the way down, and here is labeled accrued interest. And now we can get our asset retirement obligation liability payments also from the depletion tab, and that would be blank in the first year of the construction phase.

If we add all of these numbers up, we get our funds from operations, which is a very popular credit metric. So the last item we have is the change in operating working capital, and we can get this from our calculations tab by simply taking last year's operating, working capital minus this year's operating working capital. Now we can get our cashflow from operations by adding the funds from operations and the changes in operating working capital.

Now we can just take all of our formulas and copy them to the right until the last year of the operational phase, and we have completed our cashflow from operations. Now, before we move on, we can go to our balance sheet and check all of the items we've already reconciled with the cashflow statement. In this case, accounts receivable, it's already been reconciled inventory, it's already done. Now in the case of PP&E we've only really taken into account the operating part, which is the depletion. So we can actually go there and put an X instead of our Operating term. For soft costs that's similar, we've only reconciled the amortization, so we can put an X here for the asset retirement asset that we can put an X in. In fact, let's go ahead and put an X in both of these that we've already reconciled.

Coming down accounts payable, that's part of working capital, and the asset retirement obligation liability, we've already reconciled that. Lastly, in the equity section, we've already included the net income in our cashflow statement, so we can replace the operating element with an X.