I. Does the company's financial position appear to be improving or deteriorating? Explain. Does Miracle Tool, Inc., appear to be a company whose operations are growing or contra e. ing? Explain. Assume that management agrees with your conclusions in parts c, d, and e. What should be made and what actions (if any) should be taken? Explain. r. in parts c, d, and e. What decision Problem Set B B The accounting staff of Best Company has assembled the following information for the year end December 31, 2009: Cash sales Credit sales Collections on accounts receivable . Cash transferred from the money market fund to the general bank .. 230,000 ..3,450,000 2,810,000 account 200,000 40,000 . . ,822,000 1,220,000 930,000 130,000 65,000 690,000 300,000 1,700,000 520,000 30,000 2,000,000 250,000 115,000 Interest and dividends received. Payments on accounts payable to merchandise suppliers.. Cash payments for operating expenses . . . . Interest paid . . Income taxes paid Loans made to borrowers .. Cash paid to acquire plant assets . . . . . Book value of plant assets sold. Loss on sales of plant assets Proceeds from issuing bonds payable Dividends paid . . . . .. . . . . . . Instructions Prepare a statement of cash flows in the format illustrated in Exhibit 13-1. Place brackets aroun amounts representing cash outflows. Use the direct method of reporting cash flows from operatin activities. Some of the items above will be listed in your statement without change. However, you will hav to combine certain given information to compute the amounts of (1) collections from customers (2) cash paid to suppliers and employces, and (3) proceeds from sales of plant assets. (Hint: N every item listed above is used in preparing a statement of cash flows.)