Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 2041, is as follows: Dec. 31, 2012 Dec. 31, 2011 Assets Cash $189 $60 Accounts receivable (net) 108 76 Inventories 68 42 Land 155 171 Equipment 87 66 Accumulated depreciation equipment (23) (12) Total Assets $584 $403 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable $74 $60 12 Common stock, $1 par 39 19 Paid-in capital: Excess of issue price over par- 95 47 common stock 364 277 Retained earnings Total liabilities and stockholders' equity $584 $403 The following additional information is taken from the records: 1. Land was sold for $40. 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 $126 credit to Retained Earnings for net income. 6. There was a $39 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 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 o Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: $ Net cash flow from investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities $ Cash at the beginning of the year Cash at the end of the year b. Was Olson-Jones Industries Inc.'s net cash flow from operations more or less than net income