Azure Company received $300,000 for services provided to Cerise Corp. Cerulean Inc. paid $30,000 in interest to Teal Financing. What would happen in this situation with regard to preparing the statement of cash flows? Select answer from the options below Cerise and Cerulean would report their cash flows as operating activities, while Azure would report their cash flows as investing activities, and Teal would report their cash flows as financing activities. Azure and Cerise would report their cash flows as operating activities while Cerulean and Teal would report their cash flows as financing activities. Azure and Cerulean would report their cash flows as operating activities, while Cerise and Teal would report their cash flows as financing activities. All companies would report these cash flows as operating activities

Answer rating: 100% (QA)

The detailed answer for the above question is provided below The correct answer is Azure and Cerise ... View the full answer