Use the information from E9-39B to calculate the cash flow from operating activities for Pro Consultants, Inc. Based on the information provided, which method of preparing the statement of cash flows does Pro Consultants, Inc., use?
Answer to relevant QuestionsThe following events occurred at Electric Research, Inc., during the year ended June 30, 2010:July 25 Signed a note with Local First Bank for $25,000August 8 Purchased equipment for $50,000 cashOctober 15 Sold old equipment ...During the fiscal year ended September 30, 2010, Whitehouse Data, Inc., engaged in the following transactions:a. Collected $75,000 on accounts receivableb. Paid $125,000 on accounts payable related to operating expensesc. ...To prepare its statement of cash flows for the year ended December 31, 2010, Sweet Confections, Inc., gathered the following information:Gain on sale of land .............. $ 25,000Proceeds from sale of land ............ ...To prepare its statement of cash flows for the year ended June 30, 2011, Purified Water Company gathered the following information:Proceeds from bond issue (face value $500,000)....$350,000Amortization of bond premium ...Find the annual statement of cash flows (page F-3 of the 2008 10-K) to answer the following questions:1. Does Carnival use the direct or the indirect method to prepare the statement of cash flows?How can you tell? Which ...
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