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 $150 $50 Accounts receivable (net) 85 63 Inventories 54 34 Land 122 140 Equipment 69 55 Accumulated depreciation equipment (18) (9) Total Assets $462 $333 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $58 $50 Dividends payable 9 Common stock, $1 par 30 16 Paid in capital Excess of issue price over parcommon stock 68 39 Retained earnings 297 228 Total liabilities and stockholders' equity $462 $333 The following additional information is taken from the records Land was sold for $45 Equipment was acquired for cash There were no disposals of equipment during the year The common stock was issued for cash There was a $99 credit to Retained Earnings for net income There was a $30 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 $ 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 $ 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

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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

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		$150	$50
Accounts receivable (net)		85	63
Inventories		54	34
Land		122	140
Equipment		69	55
Accumulated depreciation-equipment		(18)	(9)
	Total Assets	$462	$333
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$58	$50
Dividends payable		9	-
Common stock, $1 par		30	16
Paid-in capital: Excess of issue price over parcommon stock		68	39
Retained earnings		297	228
	Total liabilities and stockholders' equity	$462	$333

The following additional information is taken from the records:

Land was sold for $45.
Equipment was acquired for cash.
There were no disposals of equipment during the year.
The common stock was issued for cash.
There was a $99 credit to Retained Earnings for net income.
There was a $30 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.