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 2078, is as follows: Dec. 31, 2019 Dec. 31, 2018 Assets Cash Accounts receivable (net) $47,940 $70,720 207,230 Inventories 298,520 188,190 289,850 102,000 investments 0 295,800 0 Land Equipment Accumulated depreciation-equipment Total assets 438,600 358,020 (99,110) $1,211,760 (84,320) $901,680 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $205,700 $194,140 Accrued expenses payable (operating expenses) 30,600 26,860 Dividends payable 25,500 20.400 Common stock, si par 202,000 102,000 Paid.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 5901,680 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows: Check My Work 3 more Check My Works remaining All work saved Save 30 888 DI FS S % & 3 4 5 6 7 8 Accumulated depreciation equipment (99,110) (84,320) Total assets $1,211,760 $901,680 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $205,700 $194,140 Accrued expenses payable (operating expenses) 30,600 26,860 Dividends payable 25,500 20,400 Common stock, si par 202,000 102,000 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 obtained from an examination of the accounts in the ledger for 2019 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. 1. 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, 2019 Check My Work 3 more Check My Work uses remaining Save and Exit Submit Assignment for Gradi All work saved Book Show Me How Printem 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: Cash received from sale of common stock 2001354 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: Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Check My Work 3 more Check My Work uses remaining Save and Ex Submit AS All work saved 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: Net cash flow from financing activities Cash balance, January 1, 2049 Cash balance, December 31, 2019 Check My Work 3 more Check My Work uses remaining Save an All work saved