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  1. business
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  3. portions of the financial statements for a company

Portions of the financial statements for a company are provided below. Required: Prepare the operating...

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Accounting

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Portions of the financial statements for a company are provided below. Required: Prepare the operating activities section of the statement of cash flows for the company using the direct method. (List cash outflows and any decrease in cash as negative amounts.) Statement of Cash Flows (partial) For the Year Ended December 31, Year 2 Cash flows from operating activities: Cash paid for income taxes Cash paid for operating expenses Cash paid to suppliers Cash received from customers Statement of Cash Flows (partial) For the Year Ended December 31, Year 2 Cash flows from operating activities: \begin{tabular}{l||l|l|} \hline Decrease in accounts payable & & \\ Decrease in accounts receivable & & \\ Decrease in income tax payable & & \\ Decrease in prepaid rent & & \\ Depreciation expense & & \\ \hline \hline Increase in accounts payable & & \\ \hline \end{tabular} Statement of Cash Flows (partial) For the Year Ended December 31, Year 2 Cash flows from operating activities: Increase in accounts receivable Increase in income tax payable Increase in inventory Increase in prepaid rent Net income Net loss Statement of Cash Flows (partial) For the Year Ended December 31, Year 2 Cash flows from operating activities

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