Use the Mercedes Supply Corp. data from P11-70B.
Requirements
1. Prepare the company’s 2018 statement of cash flows using the direct method.
2. How can the concepts used in this problem help you evaluate an investment?
Data from P11-70B
The 2018 and 2017 comparative balance sheets and 2018 income statement of Mercedes Supply Corp. follow:
Mercedes Supply had no noncash investing and financing transactions during 2018. During the year, there were no sales of land or equipment, no payment of notes payable, no retirements of stock, and no treasury stock transactions.
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