Cash Flows from Operating Activities—Direct Method?
The income statement of Goliath Industries Inc. for the current year ended June 30 is as follows:
Changes in the balances of selected accounts from the beginning to the end of the current year are as follows:
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a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the direct method. Use the minus sign to indicate any cash outflows or negative amounts.
Cash Flows from Operating Activities Section
Cash flows from operating activities:
$
$
Net cash flow from operating activities
$
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