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

		Dec. 31, 20Y2		Dec. 31, 20Y1
Assets
Cash		$97		$30
Accounts receivable (net)		55		38
Inventories		34		21
Land		78		85
Equipment		44		33
Accumulated depreciation-equipment		(12)		(6)
	Total Assets	$296		$201
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$37		$30
Dividends payable		6		-
Common stock, $1 par		20		9
Paid-in capital: Excess of issue price over parcommon stock		51		24
Retained earnings		182		138
	Total liabilities and stockholders' equity	$296		$201

The following additional information is taken from the records:

1. Land was sold for $18.
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 $64 credit to Retained Earnings for net income.
6. There was a $20 debit to Retained Earnings for cash dividends declared.

a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Olson-Jones Industries Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from operating activities:
Net income	$
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation
Gain on sale of land
Changes in current operating assets and liabilities:
Increase in accounts receivable
Increase in inventories
Increase in accounts payable
Net cash flow from operating activities		$
Cash flows from (used for) investing activities:
Gain on sale of land	$
Cash used for purchase of equipment
Net cash flow from investing activities
Cash flows from (used for) financing activities:
Cash from sale of common stock	$
Cash used for dividends
Net cash flow from financing activities
Increase in cash		$
Cash at the beginning of the year
Cash at the end of the year		$

b. Was Olson-Jones Industries Inc.s net cash flow from operations more or less than net income?