Using the information from Problem 16-3B and the additional information provided, prepare a statement of cash flows using the direct method of presenting cash flows from operating activities.

The statement of income of Cantor Industries Ltd. for the year ended December 31, 2015, is as follows:

Instructions

a. Using the information from Problem 16-3B and the additional information provided, prepare a statement of cash flows using the direct method of presenting cash flows from operating activities.

b. How does Cantor Industries’ cash flow compare to its net income? Summarize the changes that caused the difference.

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