Prepare a statement of cash flows for Pharoah Company using the direct method.
Condensed financial data of Pharoah Company follow. Pharoah Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 153,520 $ 91,960 Accounts receivable 166,820 72,200 Inventory 213,750 195,415 Prepaid expenses 53,960 49,400 Long-term investments 262,200 207,100 Plant assets 541,500 460,750 Accumulated depreciation (95,000 ) (98,800 ) Total $1,296,750 $978,025 Liabilities and Stockholders’ Equity Accounts … Read more