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statement of cash flows-indirect method

Dec. 31. Dec. 31 2011 Acous recevable Account The following additional information is taken from the records: 1. Land was sold for $35. 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $95 credit to Retained Earnings for net income. 6. There was a $29 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. On e Industries Inc. of Cash Flows Category Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2048, is as follows: Dec 31, Dec. 31. 2019 2018 Assets Cash $301.540 $22.440 Accounts receivable (net) Inventories Investments 109.240 308,350 101.440 300,340 116,360 Land 158,170 340,230 265.530 Equipment Accumulated depreciation-equipment Total assets (29,650) (71.600) $1.137. 6 5994,510 607,620 579,800 Liabilities and Stockholders' Equity Accounts payable $205,960 $195.920 Accrued expenses payable 20,480 25,860 Dividends payable 11,380 8,950 Common stock, $10 par 61.450 48.730 Paid-in capital: Excess of issue price over par- 230,990 135,250 common stock Retained earnings Total liabilities and stockholders' equity $1,137,880 994 510 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows: I. Equipment and land were acquired for cash. . There were no disposals of equipment during the year. ..The investments were sold for $104,720 cash. 1. The common stock was issued for cash. !. There was a $74,560 credit to Retained Earnings for net income. f. There was a $46,740 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 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, 2019 Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash at the beginning of the year Cash at the end of the year