(L.OBJ. 3) Classifying items on the indirect Statement of Cash Flows [10 min] Triumph C...

(L.OBJ. 3) Classifying items on the indirect Statement of Cash Flows [10 min]

Triumph Corporation is preparing its Statement of Cash Flows by the indirect method. Triumph has the following items for you to consider in preparing the statement:

Requirement

1. Identify each item as an

• Operating activity—addition to net income (O+), or subtraction from net income (O—)

• Investing activity—addition to cash flow (1+), or subtraction from cash flow (I—)

• Financing activity—addition to cash flow (F+), or subtraction from cash flow (F—)

• Activity that is not used to prepare the indirect cash-flow statement (N)