Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 2012 and 2041, is as follows: Dec. 31, Dec. 31, 2012 2011 Assets Cash $176 Accounts receivable (net) Inventories Land Equipment Accumulated depreciation equipment Total Assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Pald-in capital: Excess of issue price over par- common stock Retained earnings 345 264 Total liabilities and stockholders' equity $542 $385 The following additional information is taken from the records: 1. Land was sold for $48. 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 $117 credit to retained Earnings for net income. 6. There was a $36 debit to retained Earnings for cash dividends dedared. 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 Olson-Jones Industries Inc. Statement of Cash Flows a. Prepare a statement of cash flows, using the Indirect method of presenting cash flows from operating activities. Use the mission 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, 2012 Adjustments to reconcile net income to cash flow from operating activities Changes in current operating and fie cash flow from cering av Cash flows from used for bevestigate 11 00 O DO DOI OO Net cash flow from investing activities Cash flows from used for financing acties Met cash flow from finanong activities Cat the beginning of the year Cash at the end of the year