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

1		Dec. 31, 20Y2	Dec. 31, 20Y1
2	Assets
3	Cash	$489.00	$163.00
4	Accounts receivable (net)	283.00	205.00
5	Inventories	180.00	111.00
6	Land	396.00	449.00
7	Equipment	228.00	179.00
8	Accumulated depreciation-equipment	(56.00)	(31.00)
9	Total assets	$1,520.00	$1,076.00
10	Liabilities and Stockholders Equity
11	Accounts payable (merchandise creditors)	$171.00	$162.00
12	Dividends payable	30.00
13	Common stock, $1 par	105.00	48.00
14	Paid-in capital: Excess of issue price over parcommon stock	248.00	127.00
15	Retained earnings	966.00	739.00
16	Total liabilities and stockholders equity	$1,520.00	$1,076.00

The following additional information is taken from the records:

A.	Land was sold for $130.
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 $324 credit to Retained Earnings for net income.
F.	There was a $97 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. 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-Joness net cash flow from operations more or less than net income? What is the source of this difference?