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Required information Problem 16-2AB (Static) Direct: Computing cash flows from operations LO P5 2...

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Accounting

Required information Problem 16-2AB (Static) Direct: Computing cash flows from operations LO P5
2
Required:
Prepare the operating activities section of the statement of cash flows using the direct method for the current year.
Note: Amounts to be deducted should be indicated with a minus sign.
Answer is complete but not entirely correct.
Use the following information for the Problems below. (Static)
[The following information applies to the questions displayed below.]
Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and
prior years follow.
Problem 16-2AB (Static) Direct: Computing cash flows from operations LO P5
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