The comparative balance sheet of Olson Jones Industries Inc. for December 31, 2012 and 2041, is as follows: Dec 31, 2012 Dec 31, 2011 Assets 3 Cash $485.00 4 Accounts receivable (net) $163.00 198.00 285.00 Inventories 170.00 6 Land 395.00 112.00 454.00 180.00 Equipment 220.00 3 Alcumulated depreciation-equipment (58.00 $1,497.00 Total assets $1.075.00 E Liabilities and Stockholders Equily Azcounts payable merchandise creditors 13. Dividends payable $174.00 $155.00 28.00 151 Common stock, $I par 105.00 48.00 14 Paid in capital. Excess of issue price over par common stock 245.00 123.00 945.00 749.00 15 Retained earnings Total liabilities and stockholders equity $1,497.00 $1,075.00 The following additional information is taken from the records A. Land was sold for $123 B. Equipment was acquired for cash. cu Thon worn on Hiennale nt m ore Hurrian The following additional information is taken from the records: A. Land was sold for $123 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 $204 credit to Retained Earnings for net income F. There was a S08 dobit to Retained Earnings for cash dividends declared. A. Prepare a statement of cash flows, using the indirect method of presenting cash flows from goerating acties Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. In the operating activities section, use the minus sign to indicate cash outflows, decreases in cash and a net cash out flow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outflow for the section B. Was Olson Jones's net cash flow from operations more or less than net income? What is the source of this difference? e A. Prepare a statement of cash rows wing nende med o I comple the highet er y to indicate a NET chowe g for cashows from the Refer to the band Ancurt Descriptions to provided breadwording of the w cash out towder chach e d is the and trad hol e Olson Jones Sam , Cash Flow Lab Choose O nda Statement of Cash Flows (Label) STROS 1 Cash flows from operating activities: 13 Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 11 Cash flows from investing activities 15 Cash flows from financing activities: 20 Cash at the beginning of the year 21 Cash at the end of the year 8. Was Olson-Jones's net cash flow from operations more or less than net income? What is the source of this difference? Net cash flow from operations was than net income. The source(s) of the difference are: Check all that apply. Changes in current operating assets and liabilities Dividends paid Sale of common stock Purchase of equipment Depreciation expense Gain on the sale of land