P11-63A. (Learning Objectives 2, 3, 4, 5, 7: Preparing and analyzing the statement of cash flowsindirect method)

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P11-63A. (Learning Objectives 2, 3, 4, 5, 7: Preparing and analyzing the statement of cash flows—indirect method) The comparative Balance Sheets of Memphis Movie Theater Company at June 30, 20X6 and 20X5, reported the following:

Memphis Movie Theater’s transactions during the year ended June 30, 20X6, included the following:

Requirements 1. Prepare Memphis Movie Theater Company’s statement of cash flows for the year ended June 30, 20X6, using the indirect method to report cash flows from operating activities.

Report noncash investing and financing activities in an accompanying schedule.

2. Evaluate Memphis Movie Theater’s cash flows for the year, including its free cash flow and cash realization ratio. Review all three categories of cash flows and give the reason for your evaluation.

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