Based on the following income statement and balance sheet for Montego Bay Corporation,determine the cash flows from operating activities using the direct method.
Definitions:
Facilitating Functions
Activities that help in the smooth exchange of products and services between producers and consumers, such as financing, marketing information management, and logistics.
Channel Intermediaries
Firms or individuals such as wholesalers, agents, brokers, and retailers who help move a product from the producer to the consumer or business user.
Financing
The act of providing funds for business activities, making purchases, or investing.
Logistical Function
The activities involved in obtaining, producing, and distributing materials and products in the proper place and condition at the right time.
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