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		$181		$57
Accounts receivable (net)		104		72
Inventories		65		39
Land		149		162
Equipment		84		62
Accumulated depreciation-equipment		(22)		(11)
	Total Assets	$561		$381
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$71		$57
Dividends payable		11		-
Common stock, $1 par		37		18
Excess of paid-in capital over par		97		45
Retained earnings		345		261
	Total liabilities and stockholders' equity	$561		$381

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 $121 credit to Retained Earnings for net income.
6. There was a $37 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 receivable	$
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	$
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	$
Cash dividends	$
Net cash flows from financing activities		$
Net increase in cash		$
Cash balance, January 1, 20Y2		$
Cash balance, December 31, 20Y2