Statement of cash flows-indirect method The comparative balance sheet of Olson-Jones Industries Ine. for December 31,20r2 and 20r1, is as follows 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 yeat. d. The commen stock was issued for cash. c. There was a $62 credn to fretained Earnings for net income. f. There was a $24 debit to Retained Earnings for cash dividends declared. a. Prepore a statement of Cash fiows, using the indirect method of presenting Castr flows from (used for) operating activities. Use the minus sign to indicate cash out flows, cash parments, decteases in cash, or any negative odjustments. Statemient of Cash Flows For the Year Ended December 31, 20Y2 Une Item Description Amount Amount Canh flews from (used for) soerating activities: Not incorre V Adjustments to reconciele net income to net cash fow from (used far) eperating activities: perertestion Gin on vie of land +v Changes in current operating assets and sabuties: tocrease in inventores Cosh flows from (used foe) irventing activities: Cash fows from (vied fon financing activities. cahougfor fivideneft = Cah balence. January 1.2012 Cash balance, December 31,20rz