Question: Refer to the information in Problem 17 1A Other information regarding

Refer to the information in Problem 17-1A. Other information regarding Talware Networx Inc.:
a. All sales are credit sales
b. All credits to accounts receivable are receipts from customers.
c. All purchases of merchandise are on credit.
d. All debits to accounts payable result from payments for merchandise.
e. Other operating expenses are cash expenses.
f. The only decrease in income taxes payable is for payment of taxes.

Prepare a statement of cash flows for 2014 using the direct method to report cash inflows and outflows from operatingactivities.
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  • CreatedJanuary 08, 2015
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