The Comparative Statements of Financial Position for Hirj Inc

question 81

Essay

The comparative statements of financial position for Hirj Inc.appear below:
Additional information:
1.Profit for the year ending December 31,2012 was $27,000.
2.Cash dividends of $13,000 were declared and paid during the year ended December 31,2012.
3.Long-term investments that had a carrying amount of $23,000 were sold for $18,000 in 2012.
Required: Prepare a statement of cash flows for the year ended December 31,2012,using the indirect method.

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Definitions:

Aerobic Respiration

The process by which cells break down sugars and fats with oxygen to produce carbon dioxide, water, and energy.

Mitochondria

Organelles found in the cytoplasm of most cells, involved in energy production through the process of oxidative phosphorylation.

In-service Training

Training provided to employees during their tenure at an organization to improve their skills and knowledge.

Staff Development

The process of improving the skills, competencies, and knowledge of staff members through various forms of training and educational opportunities.