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Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2049 and 20Y8, is as follows: Dec. 31, 2019 Dec. 31, 2048 Assets Cash $285,260 $267,810 Accounts receivable (net) 103,340 96,180 Inventories 291,720 284,770 Investments 0 110,330 Land 149,630 0 Equipment 321,860 251,780 Accumulated depreciation-equipment (75,350) (67,890) Total assets $1,076,460 $942,980 Liabilities and Stockholders' Equity $194,840 $185,770 Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) 19,380 24,520 Dividends payable 10,760 8,490 Common stock, $10 par 58,130 46,210 Paid-in capital in excess of par-common stock 218,520 128,250 Retained earnings 574,830 549,740 Total liabilities and stockholders' equity $1,076,460 $942,980 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 $129,090 cash. d. The common stock was issued for cash. e. There was a $69,410 credit to Retained Earnings for net income. f. There was a $44,320 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: 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 A Cash balance, January 1, 2019 Cash balance, December 31, 2019 #