The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $178 $58 Accounts receivable (net) 102 72 Inventories 64 40 Land 145 162 Equipment 82 63 Accumulated depreciation-equipment (22) (11) Total Assets $549 $384 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $69 $58 Dividends payable 11 Common stock, $1 par 36 18 Excess of paid-in capital over par 88 45 Retained earnings 345 263 Total liabilities and stockholders' equity $549 $384 The following additional information is taken from the records: 1. Land was sold for $43. 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 $118 credit to Retained Earnings for net income. 6. There was a $36 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting Cash flows from (used for) operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Hirayama Industries Inc. Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: A 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 flows from financing activities Cash balance, January 1, 20Y2 Cash balance, December 31, 20Y2 b. Was Hirayama Industries Inc.'s net cash flows from operations more or less than net income