HOMEWORK P17-7C Data for Josten Company are presented in P17-6C.Further analysis reveals the following 1. Accounts payable pertains to merchandise creditors. 2. All operating expenses except for depreciation are paid in cash. Instructions (a) Prepare a statement of cash flows using the direct method. HOMEWORK P17-7C Data for Josten Company are presented in P17-6C.Further analysis reveals the following 1. Accounts payable pertains to merchandise creditors. 2. All operating expenses except for depreciation are paid in cash. Instructions (a) Prepare a statement of cash flows using the direct method