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Learning Objective 2 P16-33A Preparing the statement of cash flows-indirect method Accountants for Morganson, Inc. have assembled the following data for the year ended December

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Learning Objective 2 P16-33A Preparing the statement of cash flows-indirect method Accountants for Morganson, Inc. have assembled the following data for the year ended December 31,2018: Net Cash Used for Inv Act. $(15,500) 2018 2017 Current Assets: Cash Accounts Receivable Merchandise Inventory $99,400 25,000 69,700 75,000 64,100 83,000 Current Liabilities: Accounts Payable Income Tax Payable 57,600 14,800 55,200 16,800

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