Question: Required Refer to the information in Problem 17 1B Prepare a

Refer to the information in Problem 17-1B. Prepare a statement of cash flows for 2014 using the direct method to report cash inflows and outflows from operating activities.
Other information:

a. All sales were credit sales.
b. All credits to accounts receivable in the period were receipts from customers.
c. Purchases of merchandise were on credit.
d. All debits to accounts payable were from payments for merchandise.
e. The other operating expenses were cash expenses.
f. The decrease in income taxes payable was for payment oftaxes.
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  • CreatedJanuary 08, 2015
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