P$23\mathrm{.}4($LO $2,4)($SCF$-$Direct Method$)$ Michaels Company had available at the end of $2020$ the following information.Michaels Company Comparative Balance Sheets As of December $31,2020$ and $2019$Michaels Company

Income Statement and Dividend Information For the Year Ended December $31,2020$ Michaels Company

Income Statement and Dividend Information For the Year Ended December $31,2020$

Prepare a statement of cash flows for Michaels Company using the direct method accompanied by a reconciliation schedule. Assume the shortterm investments are debt securities$,$ classified as available$-$for$-$sale.