Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. In the operating activities section, use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outflow for the section.The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows:

1		Dec 31 20Y2	Dec 31 20Y1
2	Assets
3	Cash	$91	$30
4	Accounts Receivable (Net)	52	37
5	Inventories	32	20
6	Land	74	85
7	Equipment	42	33
8	Accumulated Depreciation- equipment	(11)	(6)
9	Total Assets	$280	$199
10	Liabilities and Stockholder's Equity
11	Accounts Payable (merchandise creditors)	$35	$30
12	Dividends Payable	6	-
13	Common Stock, $1 par	18	9
14	Paid-in capital: Excess of issue price over parcommon stock	42	23
15	Retained Earnings	179	137
16	Total liabilities and Stockholder's Equity	$280	$199

The following additional information is taken from the records:

A	Land was sold for $28.
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 $60 credit to Retained Earnings for net income.
F	There was a $18 debit to Retained Earnings for cash dividends declared.