On the basis of the following data for Larson Co.for the year ending December 31 Year 2,and the preceding year ended December 31 Year 1,prepare a statement of cash flows.Use the indirect method of reporting cash flows from operating activities.In addition to the balance sheet data,assume that:
Equipment costing $125,000 was purchased for cash.
Equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000.
The stock was issued for cash.
The only entries in the retained earnings account were net income of $51,000 and cash dividends declared of $13,000.
Definitions:
Right Cerebral Hemisphere
The half of the brain that coordinates tasks like spatial awareness, visual recognition, and processing of emotion and artistic ability.
Corpus Callosum
The large band of neural fibers connecting the two hemispheres of the brain, facilitating communication between the two sides.
Occipital Lobes
The part of the brain situated at the rear of the skull, mainly in charge of handling visual data.
Sign Language
A language consisting of hand movements, facial expressions, and body postures used as a primary form of communication among the Deaf community.
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