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please help im stuck Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as

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Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: Dec 31, 2019 Dec 31, 2018 Assets Cash $298,680 $281,360 Accounts receivable (net) Inventories 108,200 305,440 0 101,050 299,190 Investments 115,910 0 Land 156,660 Equipment Accumulated depreciation equipment 337,000 (78,900) $1,127,080 264,520 (71,330) > Total assets $990,700 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $204,000 $195,170 Accrued expenses payable (operating expenses) 20,290 25,760 Dividends payable 11,270 8,920 Common stock, $10 par 60,860 48,540 Poid-in capital in excess of par-common stock 228,800 134,740 Retained earnings 601,860 577,570 Total liabilities and stockholders' equity $1,127,000 $990,700 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. 134,740 Paid-in capital in excess of par-common stock 228,800 601,860 577,570 Retained earnings $1,127,080 $990,700 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in the ledger for 2049 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 $135,610 cash. d. The common stock was issued for cash. e. There was a $70,850 credit to Retained Earnings for net income. f. There was a $46,560 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 Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from (used for) operating activities: Net income 70,850 Adjustments to reconcile net Income to net cash flow from operating activities: Depreciation 7,570 -367,850 X Gain on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash thows, cash payments decreases in cash, or any negative adja Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from (used for) operating activities: Net Income Adjustments to reconcile net income to net cash flow from operating activities Depreciation 7.59 Gain on sale of investments -67.850 x Changes in current operating assets and abilities: Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in accred expenses pay blev Net cash flow from operating activities Cash flows from (used for investing activities Cash received from sale of investments Cash paid for purchase of land Cash paid for purchase of equipment: Net cash now used for investing activities Cash flows from used for) financing activities Cash received from sale of common stock Cash paid for dividends Net cash now from financing activities Net Increase in cash Cash balance, January 1, 2019 Cash balance, December 31, 2019 DON o

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