Question

The comparative balance sheet of Morgensen Educational Supply at December 31, 2015, reported the following:


Morgensen’s transactions during 2015 included the following:


Requirements
1. Prepare the statement of cash flows of Morgensen Educational Supply for the year ended December 31, 2015. 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 2016, what is its expected free cashflow?


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  • CreatedJanuary 16, 2015
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