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		$193		$64
Accounts receivable (net)		110		80
Inventories		69		44
Land		157		181
Equipment		88		70
Accumulated depreciation-equipment		(24)		(12)
	Total Assets	$593		$427
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$75		$64
Dividends payable		12		-
Common stock, $1 par		39		20
Paid-in capital: Excess of issue price over parcommon stock		86		50
Retained earnings		381		293
	Total liabilities and stockholders' equity	$593		$427

The following additional information is taken from the records:

1. Land was sold for $60.
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 $127 credit to Retained Earnings for net income.
6. There was a $39 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.