Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson Jones Industries Inc. for December 31, 2012 and 2041, is as follows: Dec 31, 2012 Dec 31, 2011 Assets Cash $183 $14 Accounts receivable (net) 55 49 Inventories 117 99 Land 250 330 Equipment 205 75 Accumulated depreciation-equipment (68) (42) $742 $625 $51 $37 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, 51 par Pald-in capital in excess of par--common stock Retained earnings 5 125 80 85 70 476 438 Total liabilities and stockholders' equity $742 $625 The following additional information is taken from the records: a, Land was sold for $120. b. Equipment was acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $62 credit to Retained Earnings for net income. f. There was a $24 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting Cash Mows from operating activities. Use the minus sign to payments, decreases in cash, or any negative adjustments. Olson-Jones Industries, Inc. Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: 0 0 Net cash flow from investing activities Net cash flow from investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash balance, January 1, 2012 Cash balance, December 31, 2012 OLDO b. Was Olson-Jones's net cash flow from operations more or less than net income? The source(s) of the difference are . Gain on the sale of land b. Purchase of equipment C. Sale of common stock d. Changes in current operating assets and liabilities e. Depreciation expense 1. Dividends pald