PROBLEM $145$

Preparing and Interpreting a Cash Flow Statement$$Indirect Method $[$LO$2$ CC$3]$

$$See$,$ I told you things would work out,$$ said Barry Kresmier, president of Lomax Company. $$We expanded sales from $$1\mathrm{.}6$ million to $$2$ million in year $2,$ nearly doubled our warehouse space, and ended the year with more cash in the bank than we started with. A few more years of expansion like this, and we$$ll be the indus$-$ try leaders.$$