Book Show Me How Calolator Pre hom $66 Assets Cash Accounts receivable (net) Inventories Land 188 Equipment Accumulated depreciation equipment Total Assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid in capital: Excess of issue price over par common stock Retained earnings Total liabilities and stockholders' equity $443 The following additional information is taken from the records: 1. and 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 $136 credit to Retained Earnings for net income 6. There w a 542 debito 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 indies payments, decreases in cash, or negative adjustments Olson-Jones Industries Inc. Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities: Check My Work 3 more Check My Work uses remaining V S. Use the min Block Show Me How Calculator Print hom a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating payments, decreases in cash, or any negative adjustments Olson-Jones Industries Inc. Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Gain on sale of land Changes in current operating assets and abilities: Increase in accounts receivable Increase in inventories Increase in accounts payable Net cash flow from operating activities Cash flows from (used for) investing activities: Cash from sale of land Cash used for purchase of equipment Net cash flow from investing activities Cash flows from (used for) financing activities: Cash from sale of common stock Cash used for dividends Net cash flow from financing activities Increase in cash 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 More Check My Work 3 more Check My Works remaining