The following accounts and corresponding balances were drawn from Osprey Companys 2014 and 2013 year-end balance sheets:

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The following accounts and corresponding balances were drawn from Osprey Company€™s 2014 and 2013 year-end balance sheets:

The following accounts and corresponding balances were drawn from Osprey

During the year, $84,000 of unearned revenue was recognized as having been earned. Rent expense for 2014 was $24,000.

Required
Based on this information alone, prepare the operating activities section of the statement of cash flows assuming the direct approach isused.

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Fundamental financial accounting concepts

ISBN: 978-0078025365

8th edition

Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward

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