Question

The comparative balance sheet of Morris Educational Supply at December 31, 2016, reported the following:
Morris’s transactions during 2016 included the following:
Requirements
1. Prepare the statement of cash flows of Morris Educational Supply for the year ended December 31, 2016. Use the indirect method to report cash flows from operating activities.
2. Evaluate Morris’s cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation.
3. If Morris plans similar activity for 2017, what is its expected free cash flow?


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  • CreatedJune 15, 2015
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