a$.$ Land was sold for $$120.$

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 $$62$ credit to Retained Earnings for net income.

f$.$ There was a $$24$ debit to Retained Earnings for cash dividends declared.

a$.$ Prepare a statement of cash flows, using the indirect method of presenting Cash flows from $($used for$)$ operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Olson$-$Jones Industries, Inc.

Statement of Cash Flows

For the Year Ended December $31,20Y2$

Line Item Description

Amount

Amount

Cash flows from $($used for$)$ operating activities:

$$

$

Adjustments to reconcile net income to net cash flow from $($used for$)$ operating activities:

$$

$$

Changes in current operating assets and liabilities:

$$