PLEASE MAKE SURE THE FULL ANSWER CHART SHOWS EXPAND IT ON YOUR END BECAUSE IT GETS CUT OFF

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 20Y8 Assets Cash Accounts receivable (net) Inventories Investments $224,640 81,380 229,710 $208,480 74,880 221,690 85,890 0 Land 0 Equipment Accumulated depreciation equipment 117,830 253,460 (59,340) $847,680 196,000 (52,850) $734,090 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $153,430 $144,620 Accrued expenses payable (operating expenses) 15,260 19,090 Dividends payable 8,480 6,610 Common stock, $10 par 45,770 35,970 Pald-in capital in excess of par-common stock 172,080 99,840 Retained earnings 452,660 427,960 Total liabilities and stockholders' equity $847,680 $734,090 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. Retained earnings 452,660 427,960 Total liabilities and stockholders' equity $847,680 $734,090 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 $100,490 cash. d. The common stock was issued for cash. e. There was a $59,200 credit to Retained Earnings for net income. 1. There was a $34,500 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 (used for) operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Gain on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in accrued expenses payable 11 II Net cash flow from operating activities Cash flows from (used for investing activities: Cash received from sale of investments Depreciation Gain on sale of investments Changes in current operating assets and abilities: Increase in accounts receivable Increase in Inventories Increase in accounts payable Decrease in accrued expenses payable 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 flow used for investing activities Cash flows from (used for) financing activities: Cash received from sale of common stock Cash paid for dividends Net cash flow from financing activities Net Increase in cash 1 lll 10 0 Duis a Cash balance, January 1, 2049 Cash balance, December 31, 2049