The comparative balance sheet of Merrick Equipment Co$.$ for December $31,20$Y$9$ and $20$Y$8,$ is as follows:

Line Item Description December $31,20$Y$9$ December $31,20$Y$8$

Assets

Cash $$261,730$ $$241,780$

Accounts receivable $($net$)94,81086,840$

Inventories $267,660257,110$

Investments $099,610$

Land $137,2800$

Equipment $295,310227,310$

Accumulated depreciation$$equipment $(69,140)(61,300)$

Total assets $$987,650$ $$851,350$

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$ $$178,760$ $$167,720$

Accrued expenses payable $($operating expenses$)17,78022,140$

Dividends payable $9,8807,660$

Common stock, $$10$ par $53,33041,720$

Paid$-$in capital in excess of par$$common stock $200,490115,780$

Retained earnings $527,410496,330$

Total liabilities and stockholders' equity $$987,650$ $$851,350$

Additional data obtained from an examination of the accounts in the ledger for $20$Y$9$ are as follows:

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The investments were sold for $$116,540$ cash.

The common stock was issued for cash.

There was a $$71,090$ credit to Retained Earnings for net income.

There was a $$40,010$ 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