eBook Show Me How Print Item Statement of cash flows-indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Assets December 31, 20Y9 December 31, 2018 Cash Accounts receivable (net) $232,470 84,220 $217,500 78,120 Inventories Investments Land 237,730 231,280 0 89,600 121,940 0 Equipment Accumulated depreciation-equipment Total assets 262,300 204,480 (61,410) (55,140) $877,250 $765,840 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $158,780 $150,870 Accrued expenses payable (operating expenses) 15,790 19,910 Dividends payable 8,770 6,890 Common stock, $10 par 47,370 37,530 Paid-in capital in excess of par-common stock 178,080 104,150 Retained earnings 468,460 446,490 Total liabilities and stockholders' equity $877,250 $765,840 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows. Previous eBook Show Me How Print Item Additional data obtained from an examination of the accounts in the ledger for 20Y9 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 $104,830 cash. d. The common stock was issued for cash. e. There was a $57,960 credit to Retained Earnings for net income. f. There was a $35,990 debit to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) 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, 20Y9 Amount Amount Line Item Description Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Cash flows from (used for) investing activities: Previous eBook Show Me How Print Item Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: < Cash flows from (used for) investing activities: Cash flows from (used for) financing activities: Cash balance, January 1, 20Y9 Cash balance, December 31, 20Y9 Previous