Question

Mortonson Company has not yet prepared a formal statement of cash flows for the 2010 fiscal year. Comparative statements of financial position as of December 31, 2009 and 2010, and a statement of income and retained earnings for the year ended December 31, 2010, are presented below.


Instructions
Prepare a statement of cash flows using the direct method. Changes in accounts receivable and accounts payable relate to sales and cost of goodssold.


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  • CreatedJune 17, 2013
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