Statement of Cash Flows The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $195 $64 Accounts receivable (net) 111 80 Inventories 70 44 Land 159 181 Equipment 90 70 70 Accumulated depreciation-equipment (24) (12) Total Assets $601 $427 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $76 $64 Dividends payable 12 Common stock, $1 par 40 20 Excess of paid-in capital over par 91 50 Retained earnings 382 293 Total liabilities and stockholders' equity $601 $427 The following additional information is taken from the records: