Statement of Cash Flows-Indirect Method The comparatlve 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 recelvable (net) Inventories Land Equipment Accumulated depreclation-equipment $139 78 49 112 63 (17) $424 $43 54 123 47 $288 Total Assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Pald-In capltal: Excess of Issue price over par-- common stock Retalned earnings $53 $43 28 14 75 34 260 197 Total llabllitles and stockholders' equlty $424 $288 The following additional Information Is taken from the records 1. Land was sold for $28 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 $91 credit to Retalned Earnings for net Income. 6. There was a $28 debit to Retalned Earnings for cash divldends declared