The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, Dec. 31, 20Υ2 20Y1 Assets Cash $155 $52 Accounts receivable (net) 89 65 Inventories 56 36 Land 127 145 Equipment 71 57 Accumulated depreciation-equipment (19) (10) Total Assets $479 $345 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $60 $52 Dividends payable 10 Common stock, $1 par 32 16 Paid-in capital: Excess of issue price over par- 69 40 common stock Retained earnings 308 237 Total liabilities and stockholders' equity $479 $345 The following additional information is taken from the records: 1. Land was sold for $45. 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 $103 credit to Retained Earnings for net income. 6. There was a $32 debit to Retained Earnings for cash dividends dedared. 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, or any negative adjustments. Olson-Jones Industries Inc. Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from operating activities: $ Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow from investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash at the beginning of the year Cash at the end of the year b. Was Olson-Jones Industries Inc.'s net cash flow from operations more or less than net income?

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A Framework for decision making: a. can help reduce the unexpected consequences of our actions. b. is not needed if the activity is legal. c. helps identify who gains the most from a decision.

During the current year, Dale Corporation sold a segment of its business at a gain of $315,000.Until it was sold, the segment had a current period operating loss of $112,500. The company had$1,275,000 from continuing operations for the current year.Prepare the lower part of the income statement, beginning with the $1,275,000 income fromcontinuing operations. Follow tax allocation procedures, assuming that all changes in incomeare subject to a 20% income tax rate. Disregard earnings per share disclosures. (Round all calculations to nearest dollar amount.)

Are you concerned about high deficits? Why are why not?

“Performance reports based on controllability are impossible. Nobody really controls anything in an organization!” Do you agree or disagree? Explain your answer.

It says they answers are wrong from your example.