Required: By use the direct method , prepare a statement of cash flow for 20x7.
Q2: Comparative financial statement data for Cargill company follow:
December 31
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20x7 20x6
Cash …………………………… $ 3 $ 6
Inventory…………………………… 50 40
Plant and equipment ……………… 240 200
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Total assets 250 220
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Accounts payable ………………….. $ 40 $ 36
Common stock …………………... 150 145
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Total liabilities&
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For 20x7 , the company reported net income as follows:
Sales ………………….. $ 275
Cost of goods sold ……. 150
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Gross margin…………. 125
Operating expenses ……. 90
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Net income …………. 35
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Required: By use the direct method , prepare a statement of
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