Grupo Bimbo, Krispy Kreme, and Tastykake, are all competitors in the global marketplace. Access Grupo Bimbo’s annual report (GrupoBimbo.com) for the year ended December 31, 2002. Review its statement of changes in financial position.

Required 1. Is Grupo Bimbo’s statement of changes in financial position more similar to a statement of cash flows prepared by the direct or indirect method?

2. What title does Grupo Bimbo use in the section that reflects net income adjusted by noncash ex¬

pense items and changes in noncurrent balance sheet accounts?

3. What title does Grupo Bimbo use in the section that reflects the cash flows that result from changes in the current asset and current liability accounts?

4. What “bottom-line” label is used to denote the net changes in the first major (operating) section of the statement of changes in financial position?