On the basis of the following data for Larson Co. for the year ending December 31, 2011 and the preceding year ended December 31, 2010, 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:
Alarm-Calling
Vocal signals emitted by some animals to warn conspecifics of potential predators, enhancing group survival but potentially increasing risk to the caller.
Hamilton's Rule
A principle of kin selection that predicts when natural selection will favor altruistic acts among related individuals, based on the cost to the altruist, the benefit to the recipient, and the degree of relatedness.
Adaptive
Relating to or characterized by adaptation; capable of adjusting to new conditions for survival advantage.
Alarm-Calling
A behavior in animals where individuals produce vocalizations to warn conspecifics of potential danger.
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