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Additional dato obtolned from an examination of the accounts in the kedger for 20m are as fellows: a. Equipment and k nd were acquired for

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Additional dato obtolned from an examination of the accounts in the kedger for 20m are as fellows: a. Equipment and k nd were acquired for cash, b. There were no di posals of equipment during the wear. c. The irvestrnents were sold for $130,380 cash. d. The cornmen stock was issued for cosh. c. There was a $68,120 credit to Retained Earrings for net income. f. There was a \$44,770 deblt to Retained Earnings for castr dinkidends declared. Required: Prepare a staternent of cash flows, using the indirect method of presencing canti flows from (used for) pperating activitles. Uan the minus sign to indicate cash outhows, cach parments, decreases in cash, or any negative adjustments. Merrick Equipment Ca. Statement of Cash Flows For the Year Faded December 31, 20Vg Line Item Description Amount Amount Cash flows from (used for) operating activities: Adjustrients to feconcile net income to net cash flows trom (used for) operating activities: 2335 Changes in current operating assets and liabilities: fnceese nacceunterrecivstis = tomoonds payale Common stock, $10 par Paid in copital in excess of par-coinmian stock rekained earnings Total liabilities and stockholders' equity Additional data obtainod from an examination of the accounts in the ledoer for 20 rg are as follows: a. Equipment and land were acpulted for cash. b. There were no disposals of equipment during the year. c. The imvestments were sold for $130,380 cash. d. The common stock was ksued for cash. e. There was a $68,120 credit to Retained Earnings for net incorrie. t. There was a $44,770 deblt to Retained Earnings for cash dividends declared. Required: 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 outflows, cash payments, decreases in cash; or any negative adjustments. Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 20v9 Line Item Description Amount Amount Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Gian on sole of investments 23.390 Changes in current operating assets and liabilities: Increase in accounts recelvable Increase in inventorlec Increase in acce ints Ravable Decrease in acc ued expenses pavabis Net cash Hows from operatingeactivitues Cash flows from (used for) investing activithes: Cash reopived from sale of imvestments. Cash pad for purchase ofland Cash paid for purchuse of equipment Net cash flows used for investing activitles Cash flows from (used for) financing activities: cosh received from sale of common stock Cash paid for dividends Not cash flows from financinn activitus Net increase in cash Cash balance, January 1, 20rg Cash balance, December 31,20r9

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