Dec. 31, 2019 Dec. 31. 20YS Assets Cash $268,300 Accounts receivable (net) Inventories $249,000 89.430 97.190 274,370 Investments 264,790 102.590 0 140,730 Land Equipment Accumulated depreciation-equipment Total assets 302.720 (70,870) $1,012.440 234,100 (63,130) 5876,770 $183,250 16,220 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stock, $10 par Paid in capital in excess of ar-common stock Retained earnings Total liabilities and stockholders' equity 10.120 54,670 205.530 540,650 $172.720 22,800 7,890 42,950 119.240 511,160 $875,770 $1,012.440 Check My Work 2 more Ce My Worker Precious All work wed Send Et Sutomategranatecratire 11 tv 4 3 4 5 6 7 8 E R T U o D LL (5 H J K L $1,012,440 $876,770 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 $120,020 cash. d. The common stock was issued for cash. e. There was a $70,700 credit to Retained Earnings for net income. f. There was a $41,210 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 activities. Use the minus sign to indicate cas 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: COOR Show Me How Cash flows from (used for) 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: o Net cash flow used for investing activities Cash flows from (used for) financing activities: | | Net cash flow from financing activities DO Check My Work 2 mare Check My Wortes remaining All work saved Save and Et su DY otv D S 7 A MacBook Al # 24 3 $ 4 & 7 7 8 Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash balance, January 1, 2049 Cash balance, December 31, 2049 Check My Work 2 more Check My Work uses remaining All work saved Sa OCT 11 otv Os MacBook Air TD FA DI PA DD # $ & 3 % 5 4 0) 7 8 00 9 20 T Y U D F G H J K