Question: Data for Ortega Company are presented in P17-7B. Further analysis reveals the following. 1. Accounts payable pertains to merchandise creditors. 2. All operating expenses except

Data for Ortega Company are presented in P17-7B. Further analysis reveals the following.
1. pertains to merchandise creditors.
2. All operating expenses except for depreciation are paid in cash.
Instructions
(a) Prepare a statement of cash flows using the direct method.
(b) Compute free cash flow.

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