on the basis of the date for Larson Co. for the year ending December 31, Year 2, and the preceding year ended December 31, Year, prepare a state 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 purchase for cash
Equipment costing $85,000 was accumulated depreciation of $65,00 was sold for $15,000
The stock was issued for cash