eBook Show Me How Calculator 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 $229,330 Accounts receivable (net) $248,240 89,930 253,870 82,370 Inventories 243,860 Investments 0 94,480 Land 130,210 0 Equipment 215,600 280,090 (65,570) (58,140) Accumulated depreciation-equipment Total assets $936,770 $807,500 $159,080 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable $169,560 16,860 21,000 9,370 Common stock, $10 par 50,590 7,270 39,570 109,820 Paid-in capital in excess of par-common stock 190,160 Retained earnings 500,230 Total liabilities and stockholders' equity 470,760 $807,500 $936,770 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. There were no disposal of enuinment during the vear Check My Work eBook Show Me How Calculator Total liabilities and stockholders' equity $936,770 $807,500 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 $110,540 cash. d. The common stock was issued for cash. e. There was a $67,420 credit to Retained Earnings for net income. There was a $37,950 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 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: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: Check My Work Previous Email Instructor Save and Exit Submit Assignment for eBook Show Me How Calculator Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Il bl. 101 Net cash flow from operating activities Cash flows from (used for) investing activities I Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash balance, January 1, 2019 Cash balance, December 31, 2049 Check My Work Email Instructor Save and Exit Submit Ass