The comparative balance sheet of Olson$-$Jones Industries Inc. for December $31,20Y2$ and $20Y1,$ is as follows:

December $31,$ December $31,$

$20Y2,20Y1$

The following additional information is taken from the records:

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 $$62$ credit to Retained Earnings for net income.

f$.$ There was a $$24$ debit to Retained Earnings for cash dividends declared.

Olson$-$Jones Industries, Inc.

Statement of Cash Flows

For the Year Ended December $31,20$ Y$2$

Line Item Description

Amount

Amount

Cash flows from $($used for$)$ operating activities:

Net income $qx$

Adjustments to reconcile net income to net cash flow from $($used for$)$ operating activities:

$x$

$x$

Changes in current operating assets and liabilities:

$x$

$x$

$2x$

$x$

Cash flows from $($used for$)$ investing activities:

: $x$

$x$

$x$

Cash flows from $($used for$)$ financing activities:

b$.$ Was Olson$-$Jones's net cash flows from operating activities more or less than net income?

$x$

The source$($s$)$ of the difference are:

a$.$ Gain on the sale of land

b$.$ Purchase of equipment

c$.$ Sale of common stock

d$.$ Changes in current operating assets and liabilities

e$.$ Depreciation expense

c$.$ Dividends paid