Essay
Valance & Company
Use the selected data from the balance sheet and cash flow statements for Valance & Company to answer the questions that follow
-Refer to the data for Valance & Company.
Required
(1)What current liabilities appearing on the balance sheet do not appear in the Operating Activities section of the statement of cash flows? Why?
(2)What current liabilities appear in the Operating Activities category of Valance's statement of cash flows? How does the change for each year affect the cash flows from operating activities for that year?
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