Required Refer to the information in Problem 17-5B. Prepare a statement of cash flows for 2014 using the direct method to report cash inflows and outflows from operating activities. Other information:
a. All sales were credit sales. b. All credits to accounts receivable in the period were receipts from customers. c. Purchases of merchandise were on credit. d. All debits to accounts payable in the period resulted from payments for merchandise. e. The other expenses were paid in advance and were initially debited to PrepaidExpenses.