High Liner's statement of cash flows uses the term cash and cash equivalents.
a. What does High Liner include in its definition of cash equivalents?
b. Does it make sense to include cash and cash equivalents in a statement of cash flow, or would using cash only make better sense? Explain your answer.
c. How much cash and cash equivalents does High Liner have on December 31, 2011, January 1, 2011, and January 3, 2010? Is the amount of cash on hand a concern? Explain.
d. Is it possible for an entity to have too much cash? Explain.