Question: The comparative balance sheets for 2024 and 2023 are given below for Surmise Company. Net income for 2024 w6s $76 million. Required: Prepore the stotement
The comparative balance sheets for 2024 and 2023 are given below for Surmise Company. Net income for 2024 w6s $76 million. Required: Prepore the stotement of cash flows of Surmise Company for the year ended December 31,2024 . Use the indirect method to present cash flows from operating activitles becouse you do not have sufficient information to use the direct method. You will need to moke reasonable assumptions concerning the reosons for changes in some account balances. A spreadsheet or T-account analysis will be helpful. (Hint: The right to use a buliding was acquired with a seven-year lease sgreement. Annual lease payments of $10 million are paid of January 1 of each year starting in 2024 .) Note: Enter your answers in millions (i.e., 10,000,000 should be entered os 10). Amounts to be deducted should be indicated with a minus sign
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