prepare statement of cash flow (direct method)

7.2.2.Q Preparing Statement of Cash Flows (Direct Method) Opened: Wednesday, S Aprit 2023, 12:00 AM Prepare the Statement of Cosh flows of Heads Up Company for the year ended, December 31 using the Direct Method. Refer PA12-4 in your Textbook pages 603-604. Additional Data: a. Bought new hockey equipment for cash, $500. b. Borrowed $1,200 cash from the bank during the year. c. Accounts Payable incledes only purchases of services made on credit for operating purposes. Because there are no liability accounts relating to income tax, assume that this expense was fully paid in cash