Statement of Cash Flows-Indirect 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 Accounts receivable (net) $149 $50 85 62 Inventories 53 34 Land Equipment 121 139 68 54 Accumulated depreciation-equipment (18) (9) Total Assets $458 $330 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $58 $50 Dividends payable 9 Common stock, $10 par 30 16 Paid-in capital: Excess of issue price over par-common stock 68 39 Retained earnings 293 225 Total liabilities and stockholders' equity $458 $330