Statement of Cash Flows - Indirect Method

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

Was Olson- jones Industries Inc's net cash flow from operations more or less than net income?

Dec. 31, Dec. 31, 20Y1 20Y2 Assets Cash Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment $105 60 37 85 48 (13) $322 $35 24 98 38 $232 Total Assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par- common stock Retained earning:s $41 6 21 $35 47 27 207 159 Total liabilities and stockholders' equity $322 $232 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 $69 credit to Retained Earnings for net income. 6. There was a $21 debit to Retained Earnings for cash dividends declared. a. Prepare a statement o cash flows, using he indirect method o presenting cash flows rom operating a adjustments. vit es u s the m nus s gn o nica e cash out flows, cash payments decreases n cash, o an negative Olson-Jones Industries Inc Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operabing assets and liabilities Net cash flow from aperating activities Cash flows from (used for) investing activities Net cash flow from investing activities Cash flows from (used for) financing activities: Net cash flow from financing actvities Cash at the beginning of the year Cash at the end of the year