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Statement of Cash Flows

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

		Dec. 31, 20Y9		Dec. 31, 20Y8
Assets
Cash		$231,080		$214,960
Accounts receivable (net)		83,710		77,200
Inventories		236,310		228,590
Investments		0		88,560
Land		121,210		0
Equipment		260,730		202,090
Accumulated depreciationequipment		(61,040)		(54,500)
Total assets		$872,000		$756,900
Liabilities and Stockholders' Equity
Accounts payable		$157,830		$149,110
Accrued expenses payable		15,700		19,680
Dividends payable		8,720		6,810
Common stock, $10 par		47,090		37,090
Excess of paid-in capital over par		177,020		102,940
Retained earnings		465,640		441,270
Total liabilities and stockholders' equity		$872,000		$756,900

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $79,700 cash.
4. The common stock was issued for cash.
5. There was a $59,940 credit to Retained Earnings for net income.
6. There was a $35,570 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.