MUUT 44 Statement of Pows The comparative balance sheet of Hirayama Industries Inc. Por December 31, 2012 and 2041, is as follows: Dec 31, 2012 Dec. 31, 2011 Assets Cash $123 $39 Accounts receivable (net) 70 49 Inventories 27 Land 101 112 Equipment 57 43 Accumulated depreciation equipment (15) (8) Total Assets $380 $262 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $48 $39 Dividends payable 8 Common stock, $1 par 25 12 Hxcess of pald.in capital over par 62 31 Retained earnings 237 180 Total liabilities and stockholders' equity $380 $262 The following additional information is taken from the records: 1. Land was sold for $28 2. Equipment was acquired for cash 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash, S. There was a $82 credit to Retained Earnings for net income. 6. There was a $25 debit to Retained Earnings for cash dividends declared. Next > a. Prepare a statement of cash flows, using the indirect method of presenting Cash flows from used for operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Hirayama Industries Inc. Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for investing activities: DI II LO DI Net cash flow from investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities Cash balance, January 1, 20Y2 Changes in current operating assets and liabilities: 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 10 10 H dniu 0 0 Net cash flows from financing activities Cash balance, January 1, 2012 Cash balance, December 31, 2012 b. Was Hirayama Industries Inc's net cash flows from operations more or less than net income