Use the information concerning MetroVideo Inc. provided in Problem 13-1 to fulfill the following requirements. Required: 1.

Question:

Use the information concerning MetroVideo Inc. provided in Problem 13-1 to fulfill the following requirements.

Required:
1. Prepare the statement of cash flows using the direct method for the year ended December 31, 2011.
2. Based on the cash flow statement, write a short paragraph explaining the major sources and uses of cash by MetroVideo during 2011.