Statement of cash flows$-$indirect method Olson$-$Jones Industries, Inc.

Statement of Cash Flows

For the Year Ended December $31,20$ Y $2$

b$.$ Was Olson$-$Jones's net cash flows from operating activities more or less than net income?

The comparative balance sheet of Olson$-$Jones Industries Inc. for December $31,20$ Y $2$ and $20$Y$1,$ is as follows:

December $31,$ December $31,$

$20$ Y $2$ Y $1$

The following additional information is taken from the records:

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.

Olson$-$Jones Industries, Inc.

Statement of Cash Flows

For the Year Ended December $31,20$ Y $2$