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  3. use the following financial statements and additio

Use the following financial statements and additional information to (1) prepare a complete statement of...

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Accounting

Use the following financial statements and additional information to (1) prepare a complete statement of cash flows for the year ended December 31, Year 2. The cash provided or used by operating activities should be reported using the direct method, and (2) compute the company's cash flow on total assets ratio for Year 2.
\table[[\table[[Derby Company],[Balance Sheets],[At December 31]]],[Assets:,Year 2,Year 1],[Cash,,],[Accounts receivable, net,85,600,65,200],[Merchandise inventory,72,850,56,750],[Prepaid expenses,157,750,144,850],[Equipment,6,080,12,680],[Accumulated depreciation-Equipment,280,600,245,600],[Total assets,(80,600),(97,600)
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