The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 2072 and 2041, is as follows: Dec 31, 2012 Dec. 31, 2011 Assets S485.00 $165.00 Accounts receivable (net) 285.00 198.00 112.00 Land 7 Equipment 170.00 395.00 220.00 (58.00) 51.497.00 454.00 180.00 (32.00) Accumulated depreciation equipment $1.075.00 Total assets Liabilities and Stockholders' Equity 1 Accounts payable (merchandise creditors) Dividends payable Common stock, 51 par 5155.00 $174.00 28.00 105.00 245.00 14 Paid in capital: Excess of issue price over par common stock 48.00 125.00 945.00 749.00 1 Totalbits and stockholders equity 51.497.00 51.075.00 structions lotat assets 315397.00 30.00 Liabilities and Stockholders' Equity 11 Accounts payable (merchandise creditors) $174.00 $155.00 12 Dividends payable 28.00 105.00 48.00 13 Common stock, 51 par 14 Paid-in capital: Excess of issue price over par-common stock 245.00 123.00 749.00 945.00 15 Retained earings Total liabilities and stockholders' equity $1,497.00 $1,075.00 The following additional information is taken from the records: 1. Land was sold for $123 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 $294 credit to Retained Earnings for net income. 6. There was an $98 debit to Retained Earnings for cash dividends declared. Required: A Prepare a statement of cash flows, using the indirect method of presenting cash bows from operating activities 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. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments B. Was the net cash flow from operations for Olson Jones industries Inc. more or less than net income? What is the source of this difference? Statement of Cash Flows (Label) 1 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: 11 Cash flows from (used for) investing activities: 15 Cash flows from (used for) financing activities: 16 (Amount Description) 20 Cash at the beginning of the year 21 Cash at the end of the year B. Was the net cash flow from operations for Olson-Jones Industries Inc. more or less than net income? What is the source of this difference? Net cash flow from operations was than net income The sources) of the difference are: Check all that apply Changes in current operating assets and liabilities Depreciation expense Purchase of equipment Gain on the sale of land Dividends paid Sale of common stock