eBook Show Me How Print Item 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, 20Y8 Assets Cash $70,720 $47,940 Accounts receivable (net) 207,230 Inventories 188,190 289,850 298,520 Investments 0 102,000 Land 295,800 0 438,600 Equipment Accumulated depreciation-equipment Total assets 358,020 (84,320) (99,110) $1,211,760 $901,680 $205,700 $194,140 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stock, $1 par 30,600 26,860 25,500 20,400 102,000 202,000 354,000 Paid-in capital in excess of par-common stock 204,000 Pald-in capital in excess of par-common stock 354,000 204,000 Retained earnings 393,960 354,280 Total liabilities and stockholders' equity $1,211,760 $901,680 Additional data obtai om 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 $91,800 cash. d. The common stock was issued for cash. e. There was a $141,680 credit to Retained Earnings for net income. f. There was a $102,000 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, 2049 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: Check My Work Save and Exit Submit Assignment for Grading Bm 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: U Net cash flow from financing activities Cash balance, January 1, 2049 Cash balance, December 31, 2049 Check My Work