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The comparative balance sheet of Morston Educational Supply at December 31, 2024, reported the following: E: (Click the icon to view the comparative balance sheet.)
The comparative balance sheet of Morston Educational Supply at December 31, 2024, reported the following: E: (Click the icon to view the comparative balance sheet.) Morston's transactions during 2024 included the following: (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare the statement of cash flows of Morston Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. (Use a minus si or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Data Table Requirements 2024 2023 61600 Current Assets: Cash 1. Prepare the statement of cash flows of Morston Educational Supply for the year ended December 31, 2024. Use the indirect method to report cash flows from operating activities. 2. Evaluate Morston's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation. 3. If Morston plans similar activity for 2025, what is its expected free cash flow? $ 73,000 $ 18,000 Accounts Receivable 14,500 22,100 63,600 59,200 Merchandise Inventory Current Liabilities: Accounts Payable Accrued Liabilities Print Done 31,100 30,100 10,100 11,400 Data Table $ 23,200 $ 16,600 108,000 53.900 Payment of cash dividends Purchase of equipment with cash Issuance of long-term notes payable to borrow cash Issuance of common stock for cash Depreciation expense Purchase of building with cash Net income 55,000 61,600 104.000 Print Done
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