Chapter 13 Statement of Cash Flows 667 EX 13-17 Statement of cash flows-indirect method The comparative balance sheet of Olson-Jones Test w Obj. 2, 3, 4, 5 is as follows: December 31, 2012 and 207, sting $38 Dec 31, 2012 Dec 31, 2011 Assets Cash .... Accounts receivable (net).. $183 S 14 49 Inventories Land ...... 99 117 . . .. Equipment.......... 250 330 Accumulated depreciation--equipment.. 205 175 Total assets. (68) (42) $742 5625 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 51 Dividends payable..... Common stock, S1 par.... 125 Paid-in capital in excess of par-common stock ... 85 Retained earnings... 476 Total liabilities and stockholders' equity..... $742 The following additional information is taken from the records: a. Land was sold for $120. b. Equipment was acquired for cash. c There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $62 credit to Retained Earnings for net income. f. There was a $24 debit to Retained Earnings for cash dividends declared. Prepare a statement of cash flows, using the indirect method of presenting cash flows operating activities. - Was Olson-Jones's net cash flow from operations more or less than net income is the source of this difference? 13-18 Statement of cash flows-indirect method Obj. the errors you find in the following statement of cash flows. The cash balance at the begin rear was $240,000. All other amounts are correct, except the cash balance at the end of Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 2049 ash flows from (used for) operating activities