The 2010 and 2009 comparative balance sheets and 2010 income statement of Affordable Supply Corp. follow: Affordable

Question:

The 2010 and 2009 comparative balance sheets and 2010 income statement of Affordable Supply Corp. follow:

The 2010 and 2009 comparative balance sheets and 2010 income

Affordable Supply had no noncash investing and financing transactions during 2010. During the year, there were no sales of land or equipment, no payment of notes payable, no retirements of stock, and no treasury stock transactions.

Requirements
1. Prepare the 2010 statement of cash flows, formatting operating activities by using the indirect method.
2. How will what you learned in this problem help you evaluate aninvestment?

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Financial accounting

ISBN: 978-0136108863

8th Edition

Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas

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