please show work and calculations. thank you!

eBook Show Me How Statement of Cash Flows The comparative balance sheet of Hirayama Industries Inc. for December 31, 2012 and 2041, is as follows: Dec. 31, 2012 Dec 31, 2011 Assets Cash $115 $38 66 47 Accounts receivable (net) Inventories 41 26 94 107 Land 53 41 Equipment Accumulated depreciation-equipment (14) (7) $355 $252 Total Assets $45 $38 - 7 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Excess of paid-in capital over par Retained earnings 23 12 54 29 173 226 $355 $252 Total liabilities and stockholders' equity The following additional information is taken from the records: 1. Land was sold for $33. 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 $76 credit to Retained Earnings for net income. 6. There was a $23 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash Nows, 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: Net Income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Gain on sale of land Changes in current operating assets and liabilities: 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 received from sale of land 00 DO DO O DOO Cash paid for purchase of equipment Net cash flow from investing activities Cash flows from (used for) financing activities: Cash received from issuing common stock Cash dividends Net cash flows from financing activities Net Incrence in rach Previous Previous Nec Copy Net cash flow from operating activities Cash flows from (used for) investing activities: Cash received from sale of land Cash paid for purchase of equipment Net cash flow from investing activities Cash flows from (used for) financing activities: Cash received from issuing common stock Cash dividends Net cash flows from financing activities Net increase in cash Cash balance, January 1, 20Y2 Cash balance, December 31, 20Y2 Feedback b. Was Hirayama Industries Inc.'s net cash flows from operations more or less that net income? Less