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Supplemental Disclosure of Cash Flow Information and Non-Cash Investing and Financing Activities
12 Months Ended
Dec. 31, 2011
Supplemental Disclosure of Cash Flow Information and Non-Cash Investing and Financing Activities

Note 10 - Supplemental Disclosure of Cash Flow Information and Non-Cash Investing and Financing Activities

 

Cash paid for interest in 2011 and 2010 was $520,000 and $701,000, respectively.

 

The Company paid income taxes of $1,125,000 and $238,000 for the years ended December 31, 2011 and 2010, respectively.

 

During 2011, the Company increased its $30.0 million line of credit from Regions Bank to $35 million.

 

In connection with the acquisition of the truck agent business division in July 2011, the Company acquired approximately $9.8 million of goodwill in exchange for indebtedness due to the Company of $9.4 million and the assumption of certain liabilities.