mona - Online Orient X + ssignment/takeAssignmentMain.do?invokerStake AssignmentSessionLocatorinprogress-false Calculator 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 Year 2 Year 1 Assets $78.000 35,000 90,000 Cash Accounts receivable (net) Inventories Equipment Accumulated depreciation Total assets $100.000 78,000 101.500 410,000 (150.000) $530,500 370,000 (158.000) $465.000 $58.500 Liabilities and Stockholders' Equity Accounts payable (merchandise creditor) Cash dividends payable 355.000 4.000 CE e acer - Del F12 F11 Priest Sysia F10 79 FB F7 5 FE Nu Lock Backspace Calculator Accumulated depreciation Total assets (150,000) $539,500 (158,000) $465,000 $55,000 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Cash dividends payable Common stock, $10 par Pald-in capital in excess of par-common stock Retained earnings Total liabilities and stockholders' equity $58,500 5,000 200,000 4,000 170,000 60,000 176,000 62,000 214,000 $539,500 $465,000 Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments Larson Co. Statement of Cash Flows For Year Ended December 31, Year 2 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities 8) 6 o e acer $11 Sy 790 so 19 F7 + Bapace F6 F5 7 & A * 00 9 96 6 5 0 U Y T H G F takeAssignmentSessionLocatorinprogress-false Calculator Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Larson Co. Statement of Cash Flows For Year Ended December 31, Year 2 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: b) 0 0 Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: o e 12 acer Pause Break PS Spita F12 Solk F11 F10 F9 F8 + F7 F6 F5 * & 0 A 9 8 96 7 P 6 O take Assignment/take Assignment Main.do?invokerStakehosigmentSessionLocatorprogress-tole Calculator Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and abilities: Net cash flow from operating activities Cash flows from Investing activities: Ji bo DI IN Net cash flow used for investing activities Cash flows from financing activities: Net cash flow provided by financing activities: Cash at the beginning of the year Cash at the end of the Year Previous o e 15 acer De F12 F11 Sp F10 19 F8 + F7 F6 FS 0 & * O A 96 a 7 6 0 un U