Statement of cash fows-indirect method The comparative beionce sheet of Oison-Jones industries thc. for December 31,20Y and 2011, is as follows: a. Land was sold for $120. b. Equipment was acquired for cash. c. There were no disposals of equipment during the year, d. The common stock was issued for cash, e. There was a 562 credit to Retained Eamings for net income. f. There was a $24 debit to Retained Eamings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting Cash flows from (used for) operating activitios, Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjutitments. Line Item Description Cash flows from (used for) operating activities: Amount Amount Adjustments to reconclie net income to net cash fow from (used for) operating activities: Depreciation v Changes in current operating assets and labilities: Increase in accounts riccevabe increste in inventones Cash flows from (used for) inverting activities: Cash foons from (used for) financing activities: Cash bolance, Januery 1, 20r2 Cash balance, December 34, 202