Question: Answer the following questions. You may type your responses into the worksheet; however, be sure to use complete sentences. Note that the financial information provided

Answer the following questions. You may type your responses into the worksheet; however, be sure to use complete sentences. Note that the financial information provided in the actual statement of cash flows is in thousands. Adjust your answers accordingly.
1. Does Tootsie Roll Industries (TRI) use the indirect method or direct method for preparing its statement of cash flows? How can you tell?
2. How much cash was provided by (used in) the following activities in 2022 and 2021? Use parentheses to indicate use of cash.
Operating activities 2022: 2021:
Investing activities 2022: 2021:
Financing activities 2022: 2021:

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!