Mortonson Company has not yet prepared a statement of cash flows for the 2025 fiscal year. Comparative

Question:

Mortonson Company has not yet prepared a statement of cash flows for the 2025 fiscal year. Comparative balance sheets as of December 31, 2024 and 2025, and a statement of income and retained earnings for the year ended December 31, 2025, are presented as follows.image


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Instructions


Prepare a statement of cash flows using the direct method. Changes in accounts receivable and accounts payable relate to sales and cost of goods sold. Do not prepare a reconciliation schedule.

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Intermediate Accounting

ISBN: 9781119790976

18th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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