Question

The following balance sheet and income statement data were taken from the records of Standard Center Manufacturing for the year ended December 31, 2012.
The company sells goods and provides services. All sales are made on account, and cash is received in advance on services with service revenues being recognized after services are performed.
Prepare the operating section of the statement of cash flows, and present it under both the direct and indirectmethods.


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  • CreatedNovember 16, 2011
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