Question: (Preparing a cash flow statement using the indirect method to calculate cash from operations, LO 4) Refer to the information provided in Problem P6-7 and

(Preparing a cash flow statement using the indirect method to calculate cash from operations, LO 4) Refer to the information provided in Problem P6-7 and respond to the following:

Required:

a. Use the information provided to prepare a cash flow statement for Jubilee for the year ended July 31, 2005. Use the indirect method for calculating cash from operations.

b. Assume the role of an analyst for a mutual fund company who is evaluating Jubilee’s situation. Analyze and interpret the cash flow statement you prepared and prepare a report to your manager describing what you learned about Jubilee from the statement.

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