Of course I was wrong. Payment of interest expense gets deducted in the Direct method, in the indirect method is just a distractor. Indirect method, CFO is: NI PLUS noncash expenses (depreciation, amortization of intangibles, losses from the sale of non-current assets) MINUS noncash revenues (equity earnings from affiliates and gains on sale of non-curent assets) PLUS INCREASES in operating liabilities and DECREASES in operating assets MINUS INCREASES in operating assets and DECREASES in operating liabilities with the understanding that: operating assets and liabilities include ALL current assets and current liabilities, deferred tax assets and liabilities, EXCEPT cash, cash equivalents and interest bearing debt
I got 12, easy one. They are just making sure to see if you know what goes in CFO and what goes in CFF.