The 2016 and 2015 comparative balance sheets and 2016 income statement of King Supply Corp. follow: King

Question:

The 2016 and 2015 comparative balance sheets and 2016 income statement of King Supply Corp. follow:
The 2016 and 2015 comparative balance sheets and 2016 income
The 2016 and 2015 comparative balance sheets and 2016 income

King Supply had no noncash investing and financing transactions during 2016. 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 2016 statement of cash flows, formatting operating activities by using the indirect method.
2. How will what you learned in this problem help you evaluate an investment?

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Financial Accounting

ISBN: 978-0134127620

11th edition

Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz

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