The following additional information is taken from the records:
Land was sold for $100.
Equipment was acquired for cash.
There were no disposals of equipment during the year.
The common stock was issued for cash.
There was a $260 credit to Retained Earnings for net income.
There was an $80 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 and for any adjustments, if required.
b. Was Wedge Industries Inc. net cash flow from operations more or less than net income?

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Dec. 31, 2014 Dec. 31, 2013 Assets 392 224 140 320 180 Cash $128 160 Land 360 140 (24 $852 Accumulated depreciation-equipment.. Total $1,208 Liabilitles and Stockholders' Equity 140 24 80 200 Accounts payable (merchandise creditors).... $128 Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock.... Retained earnings 40 100 584 $852 Total $1,208