Question 1) Prepare statement of cash flows (indirect method) using balance sheet data. Presented below are comparative balance sheets for Millco, Inc., at January 31 and February 28, 2004.
Question 2) Write 350 to 500 words discussing how the different sections of the statement of cash flows assist different sets of users.
Question 3) Also discuss the merits of using the direct method versus the indirect method of preparation.