Question: The 2014 and 2013 comparative balance sheets and 2014 income

The 2014 and 2013 comparative balance sheets and 2014 income statement of Sommar Medical Supply Corp. follow:


Sommar Medical Supply had no noncash investing and financing transactions during 2014. 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 2014 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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  • CreatedJuly 25, 2014
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