he comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows:

		Dec. 31, 20Y2		Dec. 31, 20Y1
Assets
Cash		$197		$65
Accounts receivable (net)		112		82
Inventories		70		45
Land		161		184
Equipment		90		72
Accumulated depreciation-equipment		(24)		(12)
	Total Assets	$606		$436
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$76		$65
Dividends payable		12		-
Common stock, $1 par		40		20
Paid-in capital: Excess of issue price over parcommon stock		88		51
Retained earnings		390		300
	Total liabilities and stockholders' equity	$606		$436

The following additional information is taken from the records:

1. Land was sold for $58.
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 $130 credit to Retained Earnings for net income.
6. There was a $40 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.

C https://v2 Homework-Chapter 16 Statement of Cash FI 1. EX.16 02 ALGC m comparative balance-hot ofOlson.lones Industrias lnc. for December 31, 20e2 ard 20Y1' 8 ks follows: 2. EX.16 03 Dec. 3 Dec. 31, 3 FX 16-17 Al 4. EX.16-1 107 Accnunts receivable (net) Equipment Accumulated depreclation cquipment Total Asets Liabilities and Stockholders Equity Accounts payabla (merchandise craditors Dividends payable Common stock, s1 par Paid-in capital: Excess ofssue price over pr- 430 common stock Ratained carning: lulel lisblities and stockhalders' equity 430 The following additional Information Is taken trom the racords: 1. Land was seld fer $58. 2. Equipmant was acquired for cach 3. There were "u disposals equipment during the veer. . Thare waa $130 crecit to Retained Eamings for net income. 6. There was a$40debit to Ret ained Eamings for cash dvidends dedared. a prepare a statement otcash no s udr te Indirect method ct presenting cash t o s trom operating activities use thc minus slan to indicate cash out to s cash payments, decreases In cash or any negati e str arts. olson Jones Industries Inc Statement ot Cash For the Year Ended December 3 check Ny Work Progress: 38 Items All work saved. Email Instructor we nd Exit bmit for Grading O lype hene to search engag C https//2 Homework-Chapter 16 a. Prepare a statement of cash flows, using the indirect methed 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 1. EX.16 02 ALGC lones Industries Inc 2. EX.16 03 Statement of Cash Flows fecat Deoemher 31, 3 FX 16-17 Al 130 4. EX.16-1 Aduetments to reconole net ncome to net cesh ow from operdong adies Depreciation Changes in cumant sparacing aasats and labi Increase in accounts receivable Increase in accounts payable Cach flaws from (used far) mwesting actwitie Cach flaws from (used far) fnenong actviies used for dividends Increase in cash Cach st the beginning ot ha yea Cach at the and ot the year Calculete the increases and decreases in the current asset/liability accounts over the period. What affect do these increases/decreases have on cash? what iterms might have had an affect on net income but have no cash impect? what items are con dered noncurrent 39setz? check Ny Work Progress: 36 Items Email Instructor we nd Exit bmit for Grading O lype hene to search