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tions during 20 In to view the ti 2024 2023 ments Current Assets: Prepare the sta minus sign or $ 95,300 $ 14,800 62,400 Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable 26,500 21,600 59,400 024. Use the indirect method to re ement, leave the box empty; do no atement one sed 31,100 10,900 28,600 11,400 Accrued Liabilities comparative balance sheet - Data table $ 17,200 $ 21,200 54,600 Payment of cash dividends Purchase of equipment with cash Issuance of long-term notes payable to borrow cash Issuance of common stock for cash Depreciation expense Purchase of building with cash Net Income 102,000 62,600 50,000 111,000 The comparative balance sheet of Morston Educational Supply at December 31, 2024, reported the following Requirement 1. Prepare the statement of cash flows of Morston Educational Supply for the year ended December 31, 2024. Use the Indirect method to report cash flows from operating activities (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty, do not select a label or enter a zoro) Complete the statement one section at a time, beginning with the cash flows from operating activities Morston Educational Supply Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Not Cash Provided by (Used for) Operating Activities The comparative balance sheet of Morston Educational Supply at December 31, 2024, reported the following: Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash The comparative balance sheet of Morston Educational Supply Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2023 Cash Balance, December 31, 2024 Requirement 2. Evaluate Morston's cash flows for the year. Mention all three categories of cash flows, and give the reason Complete the following statements to evaluate Morston's cash flows. Operations are cash The company is plant assets. There is more financing by than by Cash during the year. For the reasons given above, Morston's cash flows look financing activities.) Select the labels and enter the amounts to calculate Morston's expected free cash flow for 2025. Free cash flow

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