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Prepare the 2017 statement of cash flows

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Reference no: EM132381028

Question

The 2017 comparative balance sheet and income statement of Ace Supply Corp. follow. Ace had no non-cash investing and financing transactions during 2017. During the year, there were no sales of land or equipment, no issuance of notes payable, and no repurchase of shares transactions.

Requirements:

1. Prepare the 2017 statement of cash flows, formatting operating activities by using the indirect method.

2. How will what you learned in this problem help you evaluate an investment?

Reference no: EM132381028

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