The comparative balance sheet of Hirayama Industries Inc. for December 31, 2012 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $145 $46 Accounts receivable (net) 82 58 Inventories 52 32 Land 118 130 Equipment 66 50 Accumulated depreciation-equipment (18) (9) Total Assets $445 $307 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $56 $46 Dividends payable 9 Common stock, $1 par 29 14 Excess of paid-in capital over par 73 36 Retained earnings 278 211 Total liabilities and stockholders' equity $445 $307 The following additional information is taken from the records: 1. Land was sold for $30. 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 $96 credit to Retained Earnings for net income. 6. There was a $29 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: 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: 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