Statement of Cash Flow Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 20YB, is as follows: Dec. 31, Dec. 31, 2049 20Y8 Assets $212,100 $226,960 82,220 Cash Accounts receivable (net) Inventores Investments 76,180 225,540 232,110 0 87,380 0 Land 119,050 256,080 199,410 (53,770) (59,950) Equipment Accumulated depreciation equipment Total assets $856,470 $746,840 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $155,020 $147,130 Accrued expenses payable (operating expenses) 15,420 19,420 Dividends payable 8,560 6,720 Common stock, 510 par 46,250 36,600 Pald.in capital in excess of par--common stock 173,860 101,570 Retained earnings 457,360 435,400 Total abilities and stockholders' equity $856,470 $746,840 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows: 2. Equipment and land were acquired for cash 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 $102,230 cash. d. The common stock was issued for cash. e. There was a $57,060 credit to Retained Earnings for net income. f. There was a $35,100 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, 2049 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: 0 Net cash flow from operating activities Cash flows from (used for investing activities: 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 abilities: I n po 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 activites: Net cash flow from financing activities Cash balance, January 1, 2049 Cash balance, December 31, 2019 Next >