Statement of Cash Flows The comparative balance sheet of Hirayama Industries Inc, for December 31,20Y2 and 20Y1, is as follows: 1. Land was sold for $153. 2. Equipment was acquired for cash. 3. There were no diposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $79 credit to Retained Earnings for net income, 6. There was a $31 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 31,20Y2 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 recervable 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 v 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 v Cash dividends Net cash flows from financing activities