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		$183		$14
Accounts receivable (net)		55		49
Inventories		117		99
Land		250		330
Equipment		205		175
Accumulated depreciationequipment		(68)		(42)
	Total assets	$742		$625
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$51		$37
Dividends payable		5		-
Common stock, $1 par		125		80
Paid-in capital: Excess of issue price over parcommon stock		85		70
Retained earnings		476		438
	Total liabilities and stockholders' equity	$742		$625

The following additional information is taken from the records:

1. Land was sold for $120.
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 $62 credit to Retained Earnings for net income.
6. 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 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:
	$fill in the blank 8d68ca01f027010_2
Adjustments to reconcile net income to net cash flow from operating activities:
	fill in the blank 8d68ca01f027010_4
	fill in the blank 8d68ca01f027010_6
Changes in current operating assets and liabilities:
	fill in the blank 8d68ca01f027010_8
	fill in the blank 8d68ca01f027010_10
	fill in the blank 8d68ca01f027010_12
Net cash flow from operating activities		$fill in the blank 8d68ca01f027010_13
Cash flows from (used for) investing activities:
	$fill in the blank 8d68ca01f027010_15
	fill in the blank 8d68ca01f027010_17
Net cash flow from investing activities		fill in the blank 8d68ca01f027010_18
Cash flows from (used for) financing activities:
	$fill in the blank 8d68ca01f027010_20
	fill in the blank 8d68ca01f027010_22
Net cash flow from financing activities		fill in the blank 8d68ca01f027010_23
		$fill in the blank 8d68ca01f027010_25
Cash at the beginning of the year		fill in the blank 8d68ca01f027010_26
Cash at the end of the year		$fill in the blank 8d68ca01f027010_27

b. Was Olson-Jones Industries Inc.'s net cash flow from operations more or less than net income?