07/16

Statement of Cash Flows-Indirect Method The remnarative halanre sheot of Olenn-lnnes Indulctries Ine for neremher 31 ?nV2 and 20Y1, is as follows: The following additional information is taken from the records: 1. Land was sold for $50. 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $122 credit to Retained Earnings for net income. 6. There was a $37 debit to Retained Earnings for cash dividends declared a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow from investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash at the beginning of the year Cash at the end of the year b. Was Olson-Jones Industries Inc.'s net cash flow from operations more or less than net income