Statement of Cash FlowsIndirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $136 $45 Accounts receivable (net) 77 56 Inventories 48 31 Land 110 128 Equipment 62 49 Accumulated depreciation-equipment (17) (9) Total Assets $416 $300 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $52 $45 Dividends payable 8 - Common stock, $1 par 27 14 Paid-in capital: Excess of issue price over parcommon stock 61 35 Retained earnings 268 206 Total liabilities and stockholders' equity $416 $300 The following additional information is taken from the records: Land was sold for $45. Equipment was acquired for cash. There were no disposals of equipment during the year. The common stock was issued for cash. There was a $89 credit to Retained Earnings for net income. There was a $27 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Olson-Jones Industries Inc. Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from operating activities: Net income $fill in the blank de4ba9fa8044f8c_2 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation fill in the blank de4ba9fa8044f8c_4 Gain on sale of land fill in the blank de4ba9fa8044f8c_6 Changes in current operating assets and liabilities: Increase in accounts receivable fill in the blank de4ba9fa8044f8c_8 Increase in inventories fill in the blank de4ba9fa8044f8c_10 Increase in accounts payable fill in the blank de4ba9fa8044f8c_12 Net cash flow from operating activities $fill in the blank de4ba9fa8044f8c_13 Cash flows from (used for) investing activities: Cash from sale of land $fill in the blank de4ba9fa8044f8c_15 Cash used for purchase of equipment fill in the blank de4ba9fa8044f8c_17 Net cash flow from investing activities fill in the blank de4ba9fa8044f8c_18 Cash flows from (used for) financing activities: Cash from sale of common stock $fill in the blank de4ba9fa8044f8c_20 Cash used for dividends fill in the blank de4ba9fa8044f8c_22 Net cash flow from financing activities fill in the blank de4ba9fa8044f8c_23 Increase in cash $fill in the blank de4ba9fa8044f8c_25 Cash at the beginning of the year fill in the blank Cash at the end of the year $fill in the blank