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A comparative balance sheet and income statement is shown for Cruz, Incorporated. QS 12-28B (Algo) Direct: Computing cash from operations LO P5 Use the above

A comparative balance sheet and income statement is shown for Cruz, Incorporated. QS 12-28B (Algo) Direct: Computing cash from operations LO P5 Use the above balance sheet and income statement to prepare the operating activities section by direct method. Assume all the sales were made on credit basis. (Amounts to be deducted should be indicated with a minus sign.)

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