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The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: he following additional information is taken from the records: 1. Land was sold for $129. 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 $339 credit to Retained Earnings for net income. 6. There was an $101 debit to Fetained Earnings for cash dividends declared. Required: A. Prepare a statement of cash flows, using the indiroct method of presenting cash fows trom operating activities. Feler to the Labels and Amount Descriptions list provided for the exact wording of the answor choices for text entries. Bo sure to complete the heading of the statoment. 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 Olsonvones industries inc. more or less than net income? What is the source of this difference? Labels and Amount Descriptions Labels and Amount Descriptions Amortization of intangible assets Cash used for dividends Cash used for purchase of equipment Cash from sale of common stock Cash from sale of land December 31,20Y2 Decrease in accounts payable Decrease in accounts receivable Decrease in cash Decrease in inventories Depreciation For the Year Ended December 31, 20Y2 Gain on sale of land Increase in accounts payable Increase in accounts receivable Increase in cash Increase in inventories Loss on sale of land Net cash flow from operating activities Net cash flow used for operating activities Net cash flow from operating activities Net cash flow used for operating activities Net cash flow from investing activities Net cash flow used for investing activities Net cash flow from financing activities Net cash flow used for financing activities Net income Net loss Oueutias nak aktemaba Labels and Amount Descriptions Statement of Cash Flows 3 Adjustments to reconcile net income to net cash flow from operating activities: \begin{tabular}{l|l|} \hline 5 & \\ \hline 6 & Changes in current operating assets and liabilities: \\ \hline \end{tabular} 7 8 9 10 11 Cash flows from (used for) investing activities: 12 13 14 15 Cash flows from (used for) financing activities: 16 17 18 19 20 Cash at the beginning of the year 21 Cash at the end of the year

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