eBook Calculator Print Item Statement of Cash Flows-Direct Method applied to PR 13-18 The comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20YB, is: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $70,720 207,230 298,520 0 295,800 438,600 (99,110) $1,211,760 $47,940 188,190 289,850 102,000 0 358,020 (84,320) $901,680 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stow, $1 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $205,700 30,600 25,500 202,000 354,000 393,960 $1,211,760 $194,140 26,860 20,400 102,000 204,000 354,280 $901,680 Total liabilities and stockholders' equity The income statement for the year ended December 31, 20Y9, is as follows 89