Use the Following Financial Statements and Additional Information to (1)

question 2

Essay

Use the following financial statements and additional information to (1) prepare a statement of cash flows for the year ended December 31, 2011 using the indirect method, and (2) compute the company's cash flow on total assets ratio for 2011.
Additional Information
a. A $20,000 note payable is retired at its carrying amount in exchange for cash.
b. The only changes affecting retained earnings are net income and cash dividends paid. Cash dividends paid is to be classified under financing activities.
c. New equipment is acquired for $120,000 cash.
d. Received cash for the sale of equipment that had cost $85,000, yielding a gain of $4,700.
e. Prepaid expenses relate to Other Expenses on the income statement.
f. All purchases and sales of merchandise inventory are on credit.

Understand the concept of learned helplessness and self-fulfilling prophecies.

Grasp the different types of cognitive biases and heuristics.

Recognize the impact of locus of control on individuals' perceptions and behaviors.

Identify and understand various attribution errors and biases.

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Definitions:

Enzyme

Biological molecules that act as catalysts, speeding up chemical reactions in the body without being consumed in the process.

Mutant Gene

A gene that has undergone mutation, altering its original function, which can have various effects on an organism's phenotype.

Uracil

(uracil) A nitrogenous pyrimidine base found in RNA.

Adenine

A purine nucleobase that pairs with thymine in DNA and uracil in RNA, essential for the structure of nucleic acids.