and in capital IT Retained earnings 636,400 598,230 Total liabilities and stockholders' equity $1,191,770 $1,026,110 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $140,460 cash. d. The common stock was issued for cash. e. There was a $86,400 credit to Retained Earnings for net income. f. There was a $48,230 debit to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activ es. 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, 2019 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flow from operating activities 100 00 0 Changes in current operating assets and liabilities: Previous Nex 8 https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignme eBook Show Me How Print Item eBook Show Me How Print lem Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20Y8, is as follows: Changes in current operating assets and kabilities: Dec. 31, 2079 Dec. 31, 20Ys Assets Cash $315,820 $291,420 Accounts receivable (net) 114,410 104,660 Net cash flow from operating activities Inventories 322,960 309,890 70 000 0000 0 Cash flows from (used for) investing activities: Investments 120,050 Land 165,660 Equipment 356,340 273,970 Accumulated depreciation-equipment (83,420) (73,880) Net cash flow used for investing activity Total assets Cash flows from (used for) financing activities: $1,191,770 $1,026,110 Liabilities and Stockholders' Equity Net cash flow from financing activities Accounts payable (merchandise creditors) $215,710 $202,140 101000 Accrued expenses payable (operating expenses) 21,450 26,680 Cash balance, January 1, 2019 Dividends payable 11,920 9,230 Cash balance, December 31, 2019 Common stock, $10 par $4,360 50,280 Paid-in capital in excess of par-common stock 241,930 139,550 Retained earnings 636,400 598,230 Check My Work Check My Work All work saved