To prepare the statement of cash flows, accountants fo
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To prepare the statement of cash flows, accountants for Powers Art Gallery Inc. have summarized 2017 activity in two a
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To prepare the statement of cash flows, accountants for Powers Art Gallery Inc. have summarized 2017 activity in two accounts as follows: Requirement Prepare Powers's statement of cash flows for the year ended December 31, 2017, using the direct method to report operating activities. Also, prepare the accompanying schedule of noncash investing and financing activities. Powers's 2017 income statement and selected balance sheet data follow.
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