Use the following income statement and information about changes in noncash current assets and liabilities to (1) prepare only the cash flows from operating activities section of the statement of cash flows using the indirect method and (2) compute the company's cash flow on total assets ratio for the year assuming that average total assets are $525,250.
Changes in current asset and current liability accounts for the year that relate to operations follow.
Definitions:
Embezzlement
The fraudulent appropriation of funds or property entrusted to one's care but owned by someone else.
Permanently
Describing a condition or state that is intended to last indefinitely or for a lifelong duration.
Presumed Guilt
The principle or state of assuming an individual is guilty without evidence or before the completion of a fair and just legal process.
Legal System
The comprehensive framework of rules and institutions within a society that govern individuals, entities, and their interactions.
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