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		$128		$41
Accounts receivable (net)		72		51
Inventories		45		28
Land		104		114
Equipment		58		44
Accumulated depreciation-equipment		(16)		(8)
	Total Assets	$391		$270
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$49		$41
Dividends payable		8		-
Common stock, $1 par		26		13
Excess of paid-in capital over par		66		32
Retained earnings		242		184
	Total liabilities and stockholders' equity	$391		$270

The following additional information is taken from the records:

1. Land was sold for $25.
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 $84 credit to Retained Earnings for net income.
6. There was a $26 debit to Retained Earnings for cash dividends declared.

Question Content Area

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.

Hiravama Industries Inc