Refer to all of the facts in Problem 12-3.a
Required
1. Using the format in the chapter's appendix, prepare a statement of cash flows worksheet.
2. Prepare a statement of cash flows for 2012 using the indirect method in the Operating Activities section.
3. On the basis of your statement in part (2), draft a brief memo to the president to explain why cash decreased during such a profitable year. Include in your explanation any recommendations for improving the company's cash flow in future years.