The comparative balance sheet of Morgensen Educational Supply at December 31, 2024, reported the following: Requirement...

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The comparative balance sheet of Morgensen Educational Supply at December 31, 2024, reported the following: Requirement 1. Prepare the statement of cash flows of Morgensen Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; d Complete the statement one section at a time, beginning with the cash flows from operating activities. Morgensen Educational Supply Statement of Cash Flows Data table Payment of cash dividends - Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Data table $ 21,200 Depreciation expense $ 17,200 Purchase of equipment with cash 55,100 Purchase of building with cash Issuance of long-term notes payable to borrow cash Issuance of common stock for cash 47,000 108,000 Net income 105,000 59,600 2024 2023 Net Cash Provided by (Used for) Operating Activities Current Assets: Cash Flows from Investing Activities: Cash $ Accounts Receivable 81,100 $ 15,000 25,500 21,100 Merchandise Inventory 63,600 58,800 Current Liabilities: Accounts Payable 31,100 25,600 Accrued Liabilities 10,100 11,800 Print Done Requirements 1. Prepare the statement of cash flows of Morgensen Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. 2. Evaluate Morgensen's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation. 3. If Morgensen plans similar activity for 2025, what is its expected free cash flow? - The comparative balance sheet of Morgensen Educational Supply at December 31, 2024, reported the following: Requirement 1. Prepare the statement of cash flows of Morgensen Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; d Complete the statement one section at a time, beginning with the cash flows from operating activities. Morgensen Educational Supply Statement of Cash Flows Data table Payment of cash dividends - Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Data table $ 21,200 Depreciation expense $ 17,200 Purchase of equipment with cash 55,100 Purchase of building with cash Issuance of long-term notes payable to borrow cash Issuance of common stock for cash 47,000 108,000 Net income 105,000 59,600 2024 2023 Net Cash Provided by (Used for) Operating Activities Current Assets: Cash Flows from Investing Activities: Cash $ Accounts Receivable 81,100 $ 15,000 25,500 21,100 Merchandise Inventory 63,600 58,800 Current Liabilities: Accounts Payable 31,100 25,600 Accrued Liabilities 10,100 11,800 Print Done Requirements 1. Prepare the statement of cash flows of Morgensen Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. 2. Evaluate Morgensen's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation. 3. If Morgensen plans similar activity for 2025, what is its expected free cash flow? -