Asignacion Capt. 16 Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: Dec. 31, 2019 Dec. 31, 2018 Assets Cash Accounts receivable (net) Inventories $240,530 87,140 245,980 $226,580 81,380 240,940 93,350 Investments Land Equipment 126,160 271,390 (63,540) $907,660 Accumulated depreciation-equipment 213,020 (57,440) $797,830 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable $164,290 16,340 9,080 49,010 184,250 484,690 Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $157,170 20,740 7,180 39,090 108,500 465,150 $797,830 Total liabilities and stockholders' equity $907,660 Additional data obtained from an examination of the accounts in the ledger for 2049 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 $84,020 cash. d. The common stock was issued for cash. e. There was a $57,040 credit to Retained Earnings for net income. f. There was a $37,500 debit to Retained Earnings for cash dividends declared. Required: D I UI... Es lo mis... La historia... Sign In Sign In Cengag... Learning Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sig 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, 2049 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 used for 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