eBookShow Me How Question Content Area 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 $288,740 $271,070 Accounts receivable (net) 104,600 97,360 Inventories 295,280 288,250 Investments 0 111,670 Land 151,450 0 Equipment 325,780 254,840 Accumulated depreciationequipment (76,270) (68,720) Total assets $1,089,580 $954,470 Liabilities and Stockholders' Equity Accounts payable $197,210 $188,030 Accrued expenses payable 19,610 24,820 Dividends payable 10,900 8,590 Common stock, $10 par 58,840 46,770 Excess of paid-in capital over par 221,180 129,810 Retained earnings 581,840 556,450 Total liabilities and stockholders' equity $1,089,580 $954,470 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land were acquired for cash. There were no disposals of equipment during the year. The investments were sold for $100,500 cash. The common stock was issued for cash. There was a $70,250 credit to Retained Earnings for net income. There was a $44,860 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 Cash flows from (used for) operating activities: blank Net income $Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: blank Depreciation Depreciation Loss on sale of investments Loss on sale of investments Changes in current operating assets and liabilities: blank Increase in accounts receivable Increase in accounts receivable Increase in inventories Increase in inventories Increase in accounts payable Increase in accounts payable Decrease in accrued expenses payable Decrease in accrued expenses payable Net cash flows from operating activities blank $fill in the blank 15 Cash flows from (used for) investing activities: blank Cash received from sale of investments $Cash received from sale of investments Cash paid for purchase of land Cash paid for purchase of land Cash paid for purchase of equipment Cash paid for purchase of equipment Net cash flows used for investing activities blank fill in the blank 22 Cash flows from (used for) financing activities: blank Cash received from issuing common stock $Cash received from issuing common stock Cash dividends Cash dividends Net cash flows from financing activities blank fill in the blank 27 Net increase in cash blank $Net increase in cash Cash balance, January 1, 20Y9 blank fill in the blank 30 Cash balance, December 31, 20Y9 blank $fill in the blank 31