Mason Corporation's 1990 and 1989 balance sheets carried the following items: An examination of the company's activities
Question:
Mason Corporation's 1990 and 1989 balance sheets carried the following items:
An examination of the company's activities during 1990, including the income statement, shows the following:
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Prepare a statement of cash flows that reports the cash inflows and outflows from operating activities according to the direct method. Do not prepare a working paper. Instead, prepare the statement directly from your examination of the balance sheets and the additional information provided about the income statement and other transactions of the company. Show your supporting calculations.
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