Question: Given the following information for Mito Incorporated prepare their statement of cash flows for December 31, 2019 using the indirect method. Also, Explain the process
Given the following information for Mito Incorporated prepare their statement of cash flows for December 31, 2019 using the indirect method. Also, Explain the process of preparing Indirect Cashflow and specify the differences between Indirect and Direct Cashflow methods. 2019* 2018 320.00 87 15 97 42 250 90 15 95 52 Cash Accounts receivable Interest receivable Inventory Prepaid Expenses Non-current - Note receivable Property, plant and Equipment (Net of depreciation) 90 70 325 330 20 45 50 56 755 60 825 105 Accounts payable Accrued liabilities Common Shares Retained Earnings Net income Depreciation expense Gain on sale of property SO 2 1.5 in 000s
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