Dec 31, 20Y2 Dec 31, 2011 Assets 3 Cash $485.00 $163.00 Accounts receivable (net) 285.00 198.00 5 Inventories 170.00 112.00 6 Land 395.00 454.00 220.00 180.00 7 Equipment 8 Accumulated depreciation-equipment (32.00) (58.00) $1,497.00 9 Total assets $1.075.00 10 $174.00 $155.00 28.00 Liabilities and Stockholders' Equity 11 Accounts payable (merchandise creditors) 12 Dividends payable 13 Common stock. $1 par 14 Excess of paid-in capital over par 15 Retained earnings Total liabilities and stockholders' equity 105.00 48.00 245.00 123.00 945.00 749.00 16 $1.497.00 $1.075.00 My Work 2 more Check My Work uses remaining The following additional information is taken from the records: 1. Land was sold for $123 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 $294 credit to Retained Earnings for net income 6. There was a $98 debit to Retained Earnings for cash dividends declared. Required: a. Prepare a statement of cash flows, using the indirect method of presenting cash flow the heading of the statement. Refer to the Labels and Amount Descriptions list provide entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cas b. Was Hirayama Industries Inc.'s net cash flows from operations more or less than neti Check My Work 2 more Check My Work uses remaining 9