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 $488.00 $163.00 4 Accounts receivable (net) 283.00 203.00 5 Inventories 171.00 110.00 6 Land 396.00 455.00 7 Equipment 225.00 171.00 8 Accumulated depreciation-equipment (56.00) (26.00) 9 Total assets $1,507.00 $1,076.00 10 Liabilities and Stockholders Equity 11 Accounts payable (merchandise creditors) $173.00 $164.00 12 Dividends payable 26.00 13 Common stock, $1 par 98.00 47.00 14 Paid-in capital: Excess of issue price over parcommon stock 254.00 122.00 15 Retained earnings 956.00 743.00 16 Total liabilities and stockholders equity $1,507.00 $1,076.00 The following additional information is taken from the records: A. Land was sold for $122. 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 $313 credit to Retained Earnings for net income. F. There was a $100 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? 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 outflow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outflow for the section. Olson-Jones Industries, Inc. Statement of Cash Flows (Label) 1 Cash flows from operating activities: 2 3 Adjustments to reconcile net income to net cash flow from operating activities: 4 5 6 Changes in current operating assets and liabilities: 7 8 9 10 11 Cash flows from investing activities: 12 13 14 15 Cash flows from financing activities: 16 17 18 19 20 Cash at the beginning of the year 21 Cash at the end of the year B. Was Olson-Joness 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 Purchase of equipment Depreciation expense Dividends paid Sale of common stock Gain on the sale of land