statement of Cash Flows The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 2041, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $147 $48 Accounts receivable (net) 84 60 Inventories 53 33 Land 120 133 67 52 Equipment Accumulated depreciation-equipment (18) (9) Total Assets $453 $317 $57 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $48 Dividends payable 9 Common stock, $1 par 30 15 Excess of paid-in capital over par 73 37 Retained earnings 284 217 Total liabilities and stockholders' equity $453 $317 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 $97 credit to Retained Earnings for net income. 6. There was a $30 debit to Retained Earnings for cash dividends declared. 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: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities Depreciation Increase in accounts payable Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for investing activities: DDD Net cash flow from investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities