Based on the following income statement and balance sheet for Rashid Corporation,determine the cash flows from operating activities using the indirect method.
Definitions:
Retention Ratio
The portion of net income that is retained by a corporation rather than distributed to its shareholders as dividends.
EBIT
Profit measurement called Earnings Before Interest and Taxes, which encompasses all of a business's expenditures apart from interest and taxes.
Tax Rate
The portion of financial income that lawmakers decree as taxable for corporations or individuals.
Dividends Paid
The portion of a company's earnings distributed to shareholders, typically expressed as a dollar amount per share.
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