m The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, PR 13-1B Statement of cash flows-indirect method Obj. 2, 3, 4, 5 s, is as follows: 60 Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Accounts receivable (net) Inventories . .. . Investments $47,940 188,190 289,850 ATE 207.230 298,520 295,800102,000 358,020 (99,110)(84,320) .. . 438,600 Accumulated depreciation-equipment Total assets $1211.760 901.680 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) 205,700 30,600 25,500 202,000 354,000 393,960 194,140 26,860 20,400 102,000 204,000 354.280 Paid-in capital: Excess of issue price over par-common stock ....$51211.760 $901,680 Additional data obtained from 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 Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities