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. Hirayama Industries Inc. Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from (used for) operating activities: Net income 71 Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation 6 Loss on sale of land X 63 Changes in current operating assets and liabilities: Increase in accounts receivable -17 Increase in inventories -15 Increase in accounts payable 7 115 x Net cash flow from operating activities Cash flows from (used for) investing activities: Cash received from sale of land $ 25 Cash paid for purchase of equipment 49 74 Net cash flow from investing activities Cash flows from (used for) financing activities: Cash received from issuing common stock 22 Cash dividends 7 29 Net cash flows from financing activities Net loss x $ Cash balance, January 1, 20Y2 Cash balance, December 31, 2012 $